Cost averaging, whos on bourd?

[Rastatodd]

About time the price of silver falls so as to cost average down those bullion rounds, I've spent to much on. I know those that hold physical position in this metal see the fall in the market as a bad sign. But you haven't lost anything as long as you hold it. Financial loss occurs at time of sale. So the drop in my opinion is a chance to cost average down my holdings, as to make those expense rounds and bars fall in line cost wise to make a profit from them at time of sale. Just my take on this down turn.

[Thogey]

It's not a bad sign. It's an awsome opportunity...If you can locate physical for sale.

[Rastatodd]

I was at the coin shop to see how the day panned out there. Was surprised at all the silver in his display case. Was sitting around with the clerk talking over the silver situation when a young man in his twenty's walk in wanting to buy silver. Clerk asked him how much he was looking to buy, when he said $10,000. Well I took a double take thinking yeah right. Behold he threw down bundles of hundred dollar bills, I kid you not. Well I thought buying bullion in Minnesota will cost you sales tax of 8 cents for every dollar spent on silver. The young man should of place a order with online bullion dealer and saved the tax money. But he walked out of that shop loaded down, I hope the old Saturn he drove could take the weigh. Just maybe he was cost averaging in a very large scale!

[Thogey]

In AZ there is no sales tax on american currancy.

.90 junk is tax exempt.

[aristobolus]

I was at the coin shop to see how the day panned out there. Was surprised at all the silver in his display case. Was sitting around with the clerk talking over the silver situation when a young man in his twenty's walk in wanting to buy silver. Clerk asked him how much he was looking to buy, when he said $10,000. Well I took a double take thinking yeah right. Behold he threw down bundles of hundred dollar bills, I kid you not. Well I thought buying bullion in Minnesota will cost you sales tax of 8 cents for every dollar spent on silver. The young man should of place a order with online bullion dealer and saved the tax money. But he walked out of that shop loaded down, I hope the old Saturn he drove could take the weigh. Just maybe he was cost averaging in a very large scale!

Sounds like a young man wise beyond his years; at least he did not sink that 10K into a down payment on an ever depreciating new car at his age!

[Rastatodd]

Yeah I was wondering if there was a state in the US that doesn't' collect tax on the sale of PMs. I tip my hat to the state of Arizona. Seems like their not trying at every turn to get in to your wallet. Not like the politicians in Minnesota.

[Rastatodd]

I couldn't agree more, aristobolus. Maybe that is why he had all that cash I suppose. I wish I was bullion stacking at his age, I would have had a pile at my age of 48. Good for him.

[fansubs_ca]

Well I thought buying bullion in Minnesota will cost you sales tax of 8 cents for every dollar spent on silver. The young man should of place a order with online bullion dealer and saved the tax money.

What part of Minnesota? I know a good dealer just over the river in Grand Forks, ND.
Apparently in ND anything that's legal tender somewhere (90% junk, eagles, even CDN
80% junk) is exempt from sales tax. I believe my dealer said there was tax on bars
though.

[Rastatodd]

I'm in the Twin Cities, closer to Wisconsin. Do you know if that state, by chance has a sales tax? From time to time I buy silver from a coin shop in the metro but I have to keep in mind of the sales tax. That's the problem with living in Minnesota, you are taxed every which way. My daughter goes to school at the University of North Dakota. That is one good looking campus, and that hockey rink and football stadium is first class. Hope the school can continue with there school name. Go Fighting Sioux!

[Morsecode]

In CT, no tax on coins...bullion over $1000 is exempt.

Here's a State by State breakdown:

http://thecoinologist.com/sales-tax-sta ... breakdown/

[Rastatodd]

Thank you for the link, Morsecode. I've got it booked marked.

[Mike]

I just checked Ebay for my usual silver coins - Canadian Dollar, Peace Dollar, Canadian Half Dollar, U.S. Quarter, and Mexican Onza. In some cases there are a lot less coins up for sale, and in all cases the prices haven't reflected (yet) the big drop in the price of silver. Maybe this will change in a couple of days. We'll see.

[inflationhawk]

I've nearly had it with ebay. They no longer allow you to use ebay bucks for silver or gold bullion purchases (well, for items listed in that category anyway). Ebay charges outrageous fees to sell things too. Between ebay fees and paypal fees, it doesn't make sense to sell there anymore. Next time I want to sell anything, I'll come to Realcent....although most here are wise enough to not pay the prices you can get on ebay for non-bullion items. Now is not the time to sell anyway. Time to start re-stocking.

[Neckro]

I've nearly had it with ebay. They no longer allow you to use ebay bucks for silver or gold bullion purchases (well, for items listed in that category anyway). Ebay charges outrageous fees to sell things too. Between ebay fees and paypal fees, it doesn't make sense to sell there anymore. Next time I want to sell anything, I'll come to Realcent....although most here are wise enough to not pay the prices you can get on ebay for non-bullion items. Now is not the time to sell anyway. Time to start re-stocking.

I dont see the issue, can't use ebay bucks on bullion? Use ebay bucks to buy ebay giftcard, and use that card to buy the bullion.

[Mossy]

I dont see the issue, can't use ebay bucks on bullion? Use ebay bucks to buy ebay giftcard, and use that card to buy the bullion.

Slick.

I wonder why no bullion, though. If it's dollar amount, then they should be putting a ceiling on ebay bucks instead of targetting bullion. Might be like them refusing to carry firearms; political orientation or "socially resposibility" (har, har). I prefer Sam Colt's works on social reform (historical reference; he refered to his hand guns that way at least once).

[Cu Penny Hoarder]

I was at the coin shop to see how the day panned out there. Was surprised at all the silver in his display case. Was sitting around with the clerk talking over the silver situation when a young man in his twenty's walk in wanting to buy silver. Clerk asked him how much he was looking to buy, when he said $10,000. Well I took a double take thinking yeah right. Behold he threw down bundles of hundred dollar bills, I kid you not. Well I thought buying bullion in Minnesota will cost you sales tax of 8 cents for every dollar spent on silver. The young man should of place a order with online bullion dealer and saved the tax money. But he walked out of that shop loaded down, I hope the old Saturn he drove could take the weigh. Just maybe he was cost averaging in a very large scale!

According to federal law, the dealer will have to report that cash transaction. If the buyer had spent $9999, the dealer would not need to report it.

[Neckro]

I was at the coin shop to see how the day panned out there. Was surprised at all the silver in his display case. Was sitting around with the clerk talking over the silver situation when a young man in his twenty's walk in wanting to buy silver. Clerk asked him how much he was looking to buy, when he said $10,000. Well I took a double take thinking yeah right. Behold he threw down bundles of hundred dollar bills, I kid you not. Well I thought buying bullion in Minnesota will cost you sales tax of 8 cents for every dollar spent on silver. The young man should of place a order with online bullion dealer and saved the tax money. But he walked out of that shop loaded down, I hope the old Saturn he drove could take the weigh. Just maybe he was cost averaging in a very large scale!

According to federal law, the dealer will have to report that cash transaction. If the buyer had spent $9999, the dealer would not need to report it.

Is sales tax added into that equation?