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<p>[QUOTE="calcol, post: 25244587, member: 77639"]SB is offering a new service called Vault. They claim they’ll store your coins securely and return them to you on request. Several things about it make me say no.</p><p><br /></p><p>They claim the coins will be insured. Turns out the insurance is through their commercial insurer. As best I can tell, you don’t have a policy directly with the insurance company; it’s actually SB that’s insured. So, if SB should declare bankruptcy and the vault is empty, is the insurance company gonna pay ya? Nah!</p><p><br /></p><p>BTW, the Vault location is in Dallas, not in S. Calif.</p><p><br /></p><p>Then SB claims that purchased coins sent directly to the Vault won’t have sales tax. Huh? Nice trick. One way I can think this might work is if SB is effectively the purchaser and they claim the coins are being held for resale. Or maybe they can convince state tax authorities that it’s the ship-to location that matters and not the state of the purchaser. Would that work? Maybe there’s some other trick I don’t know about. But if it works, it could be a neat tax-avoidance scheme. Have your purchases shipped to the Vault and then have the Vault ship them to you.</p><p><br /></p><p>Want your coins back out of the Vault? They’re gonna charge you as much as 5% of market value to get your coins back.</p><p><br /></p><p>Want to know more? Use the link.</p><p><br /></p><p>Cal</p><p><br /></p><p><a href="https://vault.stacksbowers.com/" target="_blank" class="externalLink ProxyLink" data-proxy-href="https://vault.stacksbowers.com/" rel="nofollow">https://vault.stacksbowers.com/</a>[/QUOTE]</p><p><br /></p>
[QUOTE="calcol, post: 25244587, member: 77639"]SB is offering a new service called Vault. They claim they’ll store your coins securely and return them to you on request. Several things about it make me say no. They claim the coins will be insured. Turns out the insurance is through their commercial insurer. As best I can tell, you don’t have a policy directly with the insurance company; it’s actually SB that’s insured. So, if SB should declare bankruptcy and the vault is empty, is the insurance company gonna pay ya? Nah! BTW, the Vault location is in Dallas, not in S. Calif. Then SB claims that purchased coins sent directly to the Vault won’t have sales tax. Huh? Nice trick. One way I can think this might work is if SB is effectively the purchaser and they claim the coins are being held for resale. Or maybe they can convince state tax authorities that it’s the ship-to location that matters and not the state of the purchaser. Would that work? Maybe there’s some other trick I don’t know about. But if it works, it could be a neat tax-avoidance scheme. Have your purchases shipped to the Vault and then have the Vault ship them to you. Want your coins back out of the Vault? They’re gonna charge you as much as 5% of market value to get your coins back. Want to know more? Use the link. Cal [URL]https://vault.stacksbowers.com/[/URL][/QUOTE]
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Stack’s Bowers Vault … no thanks
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