Tax The Poor Coin Collectors

I have seen dealers offering the 'pay with cash and no tax' thing aswell.

 

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well, we here have no record and have never seen such a thing. Furthermore, you've never seen that either and must be in error.

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Ruben

 

A Hard Fought-For Exemption

Before dealers spent a lot of money on lobbying expenses in each state, there was no exemption limit at all. Just like you pay a couple of thousand dollars sales tax on a car, You had to pay 8 or 9% on bags or silver coins, or a dozen Gold Eagles. which came to hundreds of dollars. Everyone ordered expensive coins out of state, which meant that the state got NOTHING. If you pay sales taxes on smaller coin purchases, that is part of your cost basis when you figure your profit, so you are not taxed twice when you sell it at a profit.

 

All I know is that the majority of the coins I buy are between $200-$500 only twice have I bought coins over $1,000 , I do know I won't be buying coins from California . It just seems to me a way to stick it to the small guy and let the rich off the hook again .
rzage

 

When I first joined CT, I brought up this very subject and was asked why I cared, since I did not live in California, and various other reasons why it was none of my business.

I was cheering on the little guy and was shot down.

Good luck.

 

Stack's charges me tax...

Ruben

 

So in NY you pay taxes on coins , but is there a over and under where you wouldn't pay taxes like California ?
rzage

 

:thumb:

Phoenix

 

What's Califofrnias' slogan ? oh yah it's " Land of Fruits and Nuts "
rzage Blast away

 

Ruben:
The last time that I looked NY wasn't located in California.

 

I don't know. Stacks is the only dealer to ever charge me tax.

Ruben