I stopped by a local coin shop that I haven't been to in about a year. This is the closest shop in my neighborhood but I stopped going there because the owners prices became to high. Anyway, I stopped in to check out his junk walking liberty half dollars(looking to spend between $100-$200) and he told me they no longer sell junk silver in quantities that equal less than $1000. His reason for this made sense and was probably caused by his high prices on individual coins but it was kind of disappointing as that is a coin shop I will no longer go to because they don't offer anything I need. His reason was that he doesn't have to pay taxes on sales over $1000. I ended up by buying 2 2012 Silver Eagles just because I set out to buy coins and couldn't go home empty handed.
the tax thing has came up before and i am very grateful i do not live in a state where my coin/silver/gold purchases are taxed.
I understand you don't wish to go there but if it's local, I would still check it out from time to time. The guy sounds like he is being honest with you. No telling what he may have come in the door that you might like.
The issue isn't so much that he is paying the tax, the issue is that he would have to collect the tax from the buyer. This raises the price for the buyer. Also, what he might be dealing with and simply did not mention, is that there are various reporting requirements when folks buy and sell bullion and these requirements can change based upon how much is bought or sold. He may be located in a district where the manpower to fill out the forms is too much for smaller sales and so he attempts to only have larger sales.
I understood his reasoning and it's his business to run however he likes. Before I stopped going there last year I had been noticing that when I would stop by there would always been 1 of a couple guys in there walking out with or leaving large checks. Now I know why I suppose, this shops business must be geared toward large purchases and sales.
