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Gold and silver prices are down

Discussion in 'Survival Forum' started by Rider, May 9, 2012.

  1. 07Mustang

    07Mustang NES Member

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    Next coin show is Sunday Springhill Suites Hotel, Devens, MA 9:00am- 2:00pm. Many of the local dealers that where at Bay State will be there.
     
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  2. enbloc

    enbloc NES Life Member NES Member

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    Thanks Mustang.
    ~Matt
     
  3. samandglove1

    samandglove1

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    I have more than enough silver sovereign coins in the nest now, but I'm starting to go a little crazy buying some higher premium bars (Engelhard, Scottsdale, Johnson Matthey). I've weened myself off of drunken Gunbroker purchases, so now I have to keep myself away from the late night surfing on SD Bullion, JM Bullion, Apmex, Provident, etc...
     
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  4. richc

    richc NES Member

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    Mike Stanton, enbloc and Win like this.
  5. richc

    richc NES Member

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    Got a 10% eBay Bucks email coupon today (if you use the app to purchase, otherwise 8%).

    With the eBay bucks savings you can buy an uncirculated, PCGS MS-64 rated St Gaudens $20 gold piece random date for $60 above spot. If you poke around you'll also find some MS-63 and M-62 rated coins for less.

    Let eBay underwrite your gold coin investment!

    US Gold $20 Saint-Gaudens Double Eagle - PCGS MS64 - Random Date | eBay
     
  6. Varmint

    Varmint NES Member

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    hey rich, try this one, see if you qualify for the 15%. Ebay kicked me off the Bucks deals list, probably cause they were losing so much money on me, lol.

    eBay Bucks
     
  7. richc

    richc NES Member

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    Thanks, dude. I'm not entitled to this offer, though...

    :)

     
  8. Varmint

    Varmint NES Member

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    Yeah, that ones probably for people who never burn them by buying PMs, lol. I did once get a 15% bucks deal, and there were a couple 15% coupons that worked on PMs - that was sweet.
     
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  9. richc

    richc NES Member

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    What if you create a new eBay account???

    I've wondered if I did that if I could get twice the eBay buck rewards...

    :)

     
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  10. Varmint

    Varmint NES Member

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    I just tried that today, but won't know if it works til the next Bucks deal. I know people do that to try to qualify.
     
  11. EC1

    EC1 NES Member

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    I tried buying some silver American Eagles today, and discovered that when I went to check out they were charging sales tax on top of their prices (about $3.20 per coin over spot pricing). Last time I bought some last year there was no tax, can they even charge you tax buying American currency?
     
  12. richc

    richc NES Member

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    I've chased this one down with eBay and they rightfully lay it on the feet of the seller and MA law.

    According to the law sales below $1000 require sales tax here in MA.

    With some vendors I've found that if the order total is greater than $1000 there's no sales tax. So if an item costs $600, and I order qty 2 or greater, MA sales tax is not charged.

    In another example I found if individual items from the same seller, in the same transaction, cost less than $1000, even though the order total exceeds $1000, they add sales tax (and lost my order). In the example I'm thinking of I tried to by 2 items that were around $600 each, the vendor did attempt to add sales tax. I think the seller was JMBullion but I can't be sure.

    But I do believe any order total under $1000 for PM's is likely to be taxed. Thanks, Massachusetts.

    eBay indicated they had not input or control over when/where/how/why vendors collected sales tax.

    Best

    Rich



     
  13. Varmint

    Varmint NES Member

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    EBay is right cause some sellers don’t charge tax on PMs. I know MCM does not, and they’re my favorite silver vendor cause they have a lot that quality for bucks.
     
  14. Varmint

    Varmint NES Member

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  15. Mike Stanton

    Mike Stanton

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    That is very tricky.

    I have accounts I never use - eBay still does not give them good offers.

    I have other accounts I use frequently - some get good offers; other never do.

    But yes, multiple accounts are a good idea.
     
  16. NH_Realtor

    NH_Realtor NES Life Member NES Member

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    Can someone explain the ebay bucks thing to me? Everytime I get an ebay bucks offer (and I've taken advantage of it in the past with other products) I always see the following

    (*Qualifying items exclude all items in the following categories: Classifieds; Business & Industrial, but only for Heavy Equipment within that category; Real Estate; Gift Cards & Coupons, including eBay Gift Cards, Gift Cards, and Digital Gifts within that category; Bullion within the Coins & Paper category; and all categories in Motors, except Parts & Accessories.)

    I've always just assumed all coins would fall under this category, am I wrong?
     
  17. samandglove1

    samandglove1

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  18. Varmint

    Varmint NES Member

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    Some vendors put coins in the coin category rather than bullion, so they qualify for bucks.
     
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  19. richc

    richc NES Member

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    I've found the Pre 1933 gold coins are generally eligible for eBay bucks. And generally you'll want coins with a Buy it Now option to close the deal while eBay bucks are available.

    For extra credit I've bought PCGS and NGC rated coins for slightly below gold spot, or maybe $50 above spot, for a St Gaudens common date uncirculated coin. And I buy from a small number of very reputable eBay sellers (think Apmex, JMBullion, Bullion Exchange, Liberty and a few others).

    Here's my thinking. We know there are counterfeit gold coins out there. PCGS and NGC stand behind their coins. If there's a counterfeit in one of their valid containers they will make you whole. And buying from a well known, reputable seller makes it even more palatable.

    So for a few bucks over spot gold we're getting a coin that is 100 years old, give or take, uncirculated, backed by a reputable seller and in my case, generally PCGS, for about $50 over spot. That's a few percentage points for peace of mind.

    I only buy a bit at a time and collect over time. Sort of dollar cost averaging tracking the price of gold up and down.

    That's my story and I'm sticking to it...

    Here's a link that should show eBay's inventory of PCGS/NGC pre 1933 gold coins with a Buy it Now. Please let me know if it does not work for you.

    US Gold Coins (Pre-1933) | eBay

    Best

    Rich

     
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  20. richc

    richc NES Member

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  21. 55_grain

    55_grain NES Member

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  22. Varmint

    Varmint NES Member

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    Damn, thought my Ebay bucks was working again, cause it said "You'll earn $100 Ebay bucks!" Yeah, 1% of a gazillion dollars puts me at the $100 cap. :(
     
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  23. richc

    richc NES Member

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    I've been getting a lot of offers for gold and silver with small markups over spot price.

    Frequently I've noticed that the vendors do so when they expect a price drop...

    YMMV...
     
  24. Varmint

    Varmint NES Member

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    The charts are really bad for gold/silver/miners, but with Trump running around with his loose tweet cannon, anything is possible. I think gold/silver were headed for new lows before the tweet storm over trade. If we get some kind of trade deal they'll head lower.

    At this point I'd have to tap into money I don't want to spend to buy more, but will do so if gold goes to $1240-1250. :) Although usually when that happens the physical gold prices don't really drop, which puts a floor under the COMEX paper gold price.
     
  25. richc

    richc NES Member

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    Right now we have:

    - the China tariff issues going on
    - showdown with the Iranians with threats of the US sending 120,000 troops
    - North Korea demanding they cargo ship back that we seized and launching missiles

    Who's gonna test Trumps's mettle? At some point somebody's going to push back hard. And then what happens?

    It could get very interesting...



     
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  26. EC1

    EC1 NES Member

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    It seems when they advertise the American eagles under US coins (which they are) they don't charge tax but under bullion they do. Or is it just the dealers I'm looking at?
     
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  27. Varmint

    Varmint NES Member

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    It’s just dealer specific, and ones that do charge tax it’s only under $1000.
     
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  28. Win

    Win NES Member

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    Won these two coins from Central states Heritage Auction and just received them today. Am too busy to image them myself at the moment but here are the Heritage images.

    [​IMG]
    [​IMG]
    [​IMG]
    [​IMG]
     

    Attached Files:

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  29. EC1

    EC1 NES Member

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    I only bought 1 roll of silver American Eagles for a bit under 370 dollars, no tax was charged and it has already shipped.
     
  30. Varmint

    Varmint NES Member

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    If you qualify for 10% Ebay bucks I can post coins that qualify. Ebay kicked me off the list I think. Never qualify anymore.
     

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