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When does something cease to be bullion?
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<p>[QUOTE="Clawcoins, post: 2935367, member: 77814"]Michigan has no tax on any coins or paper notes or any age.</p><p><br /></p><p>Everything is bullion if a 99+% piece. Until one person puts value on it for it's aesthetic or numismatic qualities; then it's no longer "just bullion".</p><p><br /></p><p>Buying something strictly at "spot" price prohibits the value of labor and manufacturing that goes into it to produce it. Thus "new" items are rarely sold at spot.</p><p><br /></p><p>Imagine if I produced coins. If I bought silver at $16/oz to make 1oz coins. Then spent $$ in manufacturing it to coins/metals with electricity costs, equipment costs (acquisition, depreciation, etc), bldg rent, property taxes, labor and then was only able to sell it at $16/oz per coin.</p><p><br /></p><p>I'd be out of business real fast.[/QUOTE]</p><p><br /></p>
[QUOTE="Clawcoins, post: 2935367, member: 77814"]Michigan has no tax on any coins or paper notes or any age. Everything is bullion if a 99+% piece. Until one person puts value on it for it's aesthetic or numismatic qualities; then it's no longer "just bullion". Buying something strictly at "spot" price prohibits the value of labor and manufacturing that goes into it to produce it. Thus "new" items are rarely sold at spot. Imagine if I produced coins. If I bought silver at $16/oz to make 1oz coins. Then spent $$ in manufacturing it to coins/metals with electricity costs, equipment costs (acquisition, depreciation, etc), bldg rent, property taxes, labor and then was only able to sell it at $16/oz per coin. I'd be out of business real fast.[/QUOTE]
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