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I was looking online at generic and government silver. Premiums on ASEs are ~$3. Generic rounds and bars are ~$1.50 premium. Wondering how much over that (or under?) the LCS in your neck of the woods is asking.

My LCS is charging a $5 premium plus 9% sales tax on ASE's....brutal

pennypicker wrote:My LCS is charging a $5 premium plus 9% sales tax on ASE's....brutal

Can't you avoid the tax if you spend more than $1500?

I don't got an LCS.

The tax depends on the state you live in. Some states tax all sales, some states do not tax certain sales. I have only heard of one state that doesn't tax above a certain point, California maybe? In Minnesota where I live, the land of 10,000 taxes, I don't believe anything is exempt. We pay taxes on bullion, coins and just about everything except clothing and certain food. If someone else from Minnesota is aware of any exemptions for PMs or coins please let me know.

tt

The shop I been buying at last few times, is a gun shop, basically they just carry generic, although several hundred ozs, and they were charging spot +2 +%7 SALES TAX.

I believe that as of July 1st the tax will be going away thanks to this years legislative session. (Yup just checked, HB1046 signed by Governor)

chris6084 wrote:

pennypicker wrote:My LCS is charging a $5 premium plus 9% sales tax on ASE's....brutal

Can't you avoid the tax if you spend more than $1500?

Yes, in California $1500 is the threshold point for no tax on bullion purchases. It used to be $1000 but of course California raised it to $1500 in their effort to squeeze the middle class every way possible

No tax on bullion in Washington State. About the only break we get from this socialist Paradise.

Oregon has no sales tax at all; drive up north (just dont stay).

TXSTARFIRE wrote:The tax depends on the state you live in. Some states tax all sales, some states do not tax certain sales. I have only heard of one state that doesn't tax above a certain point, California maybe? In Minnesota where I live, the land of 10,000 taxes, I don't believe anything is exempt. We pay taxes on bullion, coins and just about everything except clothing and certain food. If someone else from Minnesota is aware of any exemptions for PMs or coins please let me know.

tt

Yes, California is over $1500. Texas also does it over $1000

You'd think someone (like a coin magazine or PCGS/NGC) would have a website where they keep this sales tax info updated. It is important to know when you are traveling to other states and trying to plan trips to coin shops. I don't want to have to call or email a coin shop every time I travel. (Sorry to go astray from the topic at hand)

ASEs +3, Generics +1, Maples +2.5. No taxes

LCS = internet anymore (RC or otherwise)

rainsonme wrote:Oregon has no sales tax at all; drive up north (just dont stay).

I lived in Albany in 2007, Medford in 2011, and Springfield in 2013.

Perhaps that famous line from "The Terminator" is most appropriate---"I'll be back"

pennypicker wrote:

rainsonme wrote:Oregon has no sales tax at all; drive up north (just dont stay).

I lived in Albany in 2007, Medford in 2011, and Springfield in 2013.

Perhaps that famous line from "The Terminator" is most appropriate---"I'll be back"

but...

somehow...

those pesky bill collectors keep finding you.

pitw wrote:I don't got an LCS.

Me neither.

Local pawn shop is paying $12-$13/oz. And selling it in Dallas.

beauanderos wrote:but...

somehow...

those pesky bill collectors keep finding you.

Isn't that the truth...on the other hand I've amassed a most impressive list of landlord references dating back to Spokane, WA in 1981. Somebody please make it stop.

No taxes on bullion in Illinois they know that if they start taxing the big coins shows will go else where.

$2 on Generic and $4 on Engel or JM and $5 on Gov

silverstacker wrote:$2 on Generic and $4 on Engel or JM and $5 on Gov

I'm surprised they're selling Engelhard less than gov't

beauanderos wrote:

silverstacker wrote:$2 on Generic and $4 on Engel or JM and $5 on Gov

I'm surprised they're selling Engelhard less than gov't

Yeah I know but they say its demand.

I know pawn shops are not LCS's. Today I got off work early so went by a few pawn shops just to look around. The prices they want for coins are way beyond market value. I guess they're waiting for a sucker. They wanted $116 for 50 war nickles, for example. And they were asking astronomical prices for Home Shopper Network coin sets that weren't even precious metal. Lack of knowledge I suppose but everyone has Google these days, right?

Also it seems for me that the the asking price at coin shows for ASEs/Canadian/Australian 1 oz coins never dips below $18, regardless of silver spot price. I have no problem paying a $2-3 premium for them, and assume it's because they're US Treasury issue un-circulated etc.?

Also I started stacking when silver had dropped from the high to around $35, and I considered $30 a bargain at the time. So paying $18 for some beautiful coins is a real treat for me these days.

Zincanator wrote:Also I started stacking when silver had dropped from the high to around $35, and I considered $30 a bargain at the time. So paying $18 for some beautiful coins is a real treat for me these days.

Agreed. I have no problems as well paying $18 for ASE's especially when I was paying $44 each in 2011. I'm still mad at myself for buying into all the $100 silver hype that was going around back in 2011

pennypicker wrote:

Zincanator wrote:Also I started stacking when silver had dropped from the high to around $35, and I considered $30 a bargain at the time. So paying $18 for some beautiful coins is a real treat for me these days.

Agreed. I have no problems as well paying $18 for ASE's especially when I was paying $44 each in 2011. I'm still mad at myself for buying into all the $100 silver hype that was going around back in 2011

It wasn't hype. Who knows where the price would have been by now if true market price discovery had been allowed, rather than the constant spot crushing manipulation that ensued?

Anyway, the spike was short-lived. You couldn't have dropped that much money into the peak. Could you?

beauanderos wrote:

pennypicker wrote:

Zincanator wrote:Also I started stacking when silver had dropped from the high to around $35, and I considered $30 a bargain at the time. So paying $18 for some beautiful coins is a real treat for me these days.

Agreed. I have no problems as well paying $18 for ASE's especially when I was paying $44 each in 2011. I'm still mad at myself for buying into all the $100 silver hype that was going around back in 2011

It wasn't hype. Who knows where the price would have been by now if true market price discovery had been allowed, rather than the constant spot crushing manipulation that ensued?

Anyway, the spike was short-lived. You couldn't have dropped that much money into the peak. Could you?

No, not that much. But I'm Irish with an Irish temper who can harbor a grudge (or loss) for years be it large or small---a personality flaw I've yet to rid myself of.