There are a number of these strategies which are possibly limitless employed by less than scrupulous outfits that buy and sell coins and precious metals. When coming into a shop or other location such as a room in a hotel, the customer should be treated with respect as he/she should show the same courtesy. However unscrupulous buyers that have proliferated with the huge spike in the metals prices over the years will try to undermine the confidence of the seller. The cash gambit has been around a long while, and though all currency is legal tender, there should be a receipt provided. Increasingly this has been difficult to get for whatever reason from dealers at shows and pawn shops, cash for gold buyers etc.. The fact that no SS tracking is required when buying or selling precious metals (and this has been a huge ploy by those advertising tax advantages of the pms) is employed as one rationale for buying the pms as opposed as the fully tracked securities markets, real estate, etc.. Yet the current tax rate for pms is currently 28%. So the buyers know this and will offer cash or a cashable check as an incentive. The honest dealers who report all income and run all their deductions can be perplexed by the need to have all records necessary for their taxes and bookeeping. And the customers who are looking to sell certified gold may settle for a lot less because they are convinced that their coins are worth only bullion, or that cash payments avoids tax requirements, or if they get a check, the IRS or other tax authority will "know" and will audit them, very unlikely. When selling, one big advertiser who ran a loss leader last week, a full page ad in the New York Times last week offering 1/10 oz. eagles "at dealer cost", try to get the customer to buy PR69 half and quarter eagles for inflated prices as having greater investment potential. This is of course bunk. I am sure there are many more tricks. As usual, the fully educated buyer/seller makes out a lot better than the careless ones. Ever since John Reed took his 17 pound shiny rock down to the local jeweler for cash, unaware customers have been getting less than market value for their precious metals in the U.S..
