Gold and silver prices are down

goodzilla said:
Via Google:
"The Silver Eagle Monster Box Coin is a convenient way to purchase and store your silver American eagle coins. Each box comes sealed directly from the United States Mint. The monster box contains 25 sealed tubes (each containing 20 coins) for a total of 500 troy ounces. Coins in sealed Monster boxes often fetch a higher resale value than "loose" coins, since a sealed box has the potential of containing MS-70 quality coins, and since the coins have never been handled. The monster box dimensions are 15 X 8.5 X 4.5 inches."
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thanks for covering my lazy butt lol
 
Chet0729 said:
thanks for covering my lazy butt lol
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Sure, lol, I'm on break... oh and here's a good pic

Silver%20Eagle%20Mint%20Case%20Silver%20Eagle%20Monster%20Box.png
 
Knob Creek said:
Looking to drop the hammer on a monster box of Silver Eagles. Any suggestions from who?
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I would call up Boston Bullion. They will negotiate a little bit on price, especially if you're willing to wait a few days for delivery. And you don't have to worry about the sales tax at that amount.

Also, for others reading this, I bought some junk silver in there a little while ago, but the amount was under $1000, so I had to pay the tax. He was willing to do a sort of group-buy, so if a bunch of people wanted to makes some purchases as the same time(doesn't matter if a mix of gold/silver/plat, etc.), the order can be pooled to get above the $1k mark. Seems like a logistical headache though.
 
Romokid said:
Has anyone found any ebay deals with the drop that gold (currently $1152) and silver (currently $15.34) have taken this morning?
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No. In my experience the deals reflecting those big drops usually show up a week or two after on eBay. Your best bet to take advantage of those prices now is to hit a dealer locally.
 
Canndo said:
No. In my experience the deals reflecting those big drops usually show up a week or two after on eBay. Your best bet to take advantage of those prices now is to hit a dealer locally.
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That's my problem, I don't really have a local dealer, and I think most of the good deals that I got on ebay where when the spot price was higher. I'll just keep checking some of the online vendors and their ebay sections.
 
enbloc said:
Charged sales tax on 90% junk coins? Dimes, quarters, halves and dollars are Currency. I've never been charged sales tax for currency.
Bullion I can see, not U.S. coins.
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M.G.L. c. 64H, § 6(ll)

Section 6. The following sales and the gross receipts therefrom shall be exempt from the tax imposed by this chapter:--

(ll) Sales of one thousand dollars or more of (i) rare coins of numismatic value; (ii) gold or silver bullion or coins; or (iii) gold or silver tender of any nation traded and sold according to its value as precious metal. The word "bullion'' shall not include fabricated precious metal which has been processed or manufactured for industrial, professional or artistic uses.
 
Try JM Bullion their prices are up to date and offer free shipping and no sales tax. They have a great deal on Buffalo Rounds for .89 over spot.
 
For, say $10,000 worth of PMs (let's say American Eagles), is there more of a markup on gold vs. silver or are they the same percentage-wise? I picked that number because it gets you into the multiple ounce range for both gold and silver.

I'm looking to get into the PM game shortly. I probably won't put it all into one type of coin; I'm just trying to understand the pricing schemes. I'd prefer silver because in my mind it's more liquid and you can unload it in smaller amounts if you need cash. Gold is nice because it's more "cash dense" if you will, just don't lose it.
 
ToddDubya said:
For, say $10,000 worth of PMs (let's say American Eagles), is there more of a markup on gold vs. silver or are they the same percentage-wise? I picked that number because it gets you into the multiple ounce range for both gold and silver.

I'm looking to get into the PM game shortly. I probably won't put it all into one type of coin; I'm just trying to understand the pricing schemes. I'd prefer silver because in my mind it's more liquid and you can unload it in smaller amounts if you need cash. Gold is nice because it's more "cash dense" if you will, just don't lose it.
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I think it's two things - coins cost more to make than rounds or bars, and smaller quantities cost more to make than large ones.

Gold has kept its price better than silver I think because it's the physical currency of the rich (and banks), while silver is the currency of the middle class. And the rich get all the stimulus money.
 
xtry51 said:
I just bought some more 1oz silver rounds from APMEX. It's worth the extra couple dollars to me for the ease of just clicking and order in rather than driving somewhere. Free shipping and they show up within a week.
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Yup. In the mailbox today.
feff3eee55528c6284bda79e3d53e0f7.jpg
 
Romokid said:
Has anyone found any ebay deals with the drop that gold (currently $1152) and silver (currently $15.34) have taken this morning?
Click to expand...

Canndo said:
No. In my experience the deals reflecting those big drops usually show up a week or two after on eBay. Your best bet to take advantage of those prices now is to hit a dealer locally.
Click to expand...

Romokid said:
That's my problem, I don't really have a local dealer, and I think most of the good deals that I got on ebay where when the spot price was higher. I'll just keep checking some of the online vendors and their ebay sections.
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JMbullion and Silvertowne are based on spot + dealer fee. If you can find some bullion on sale you can get $.79 over spot. Coins (minted) have higher premiums normally $2-3/oz
 
Coins (minted) have higher premiums normally $2-3/oz
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The important factor is not the premium, b ut th ebuy/sell spread. Very easy to tell - just call up Apmex or Gainsville and ask what they are paying.

Also, before getting non-currency rounds, call up someone other than the market maker for that particular brand of round and ask what their buyback price is.

It will be easy to calculate and compare spreads.
 
Romokid said:
How long did that take? I have been thinking of buying by check to get the lower price, but I haven't been able to purchase with any regularity (meaning I have no money the the PM budget as of late).
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I'm not sure how to answer this.

I got an email this morning saying:

Hello,
We wanted to inform you that your customer account at JMBullion.com has been approved for eCheck payments. To place an order via eCheck, simply log into your account, add products to your cart as usual, and select the new eCheck payment method.
On the checkout page, you will input your checking (not saving) account routing and account number, and we will use those details to generate an electronic check for settlement of funds. Funds will transfer from your checking account to ours, and from there, your order will ship out after a 5 business day clearing period.
We are happy to announce that eCheck payments will qualify for the full cash pricing discount, allowing our customers to lock in the lowest pricing anywhere while using a simple, safe, and convenient digital payment method.
Please do let us know if you have any questions on your new eCheck payment method, and thank you as always for choosing JM Bullion.
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So I made an order today. I had been eying the page again lately, and I had the cash in my budget. I didn't ask to be approved, but it was a nice surprise, I was going to buy today anyway.
 
Can someone give me the metals 101 tax situation for a MA resident? For example, do I have to pay sales tax in MA? Can I drive to NH and pay my use tax when I file my state taxes the next year? Do I have to pay capital gains on any increase in value? I understand the buy/sell spread but the implications of 6.25% sales and cap gains has me confused. I also assume that transactions over $10K trigger special paperwork like in banks.

My only silver is junk silver that I've picked up over the years and from left over coin collecting. Thank you in advance.
 
Ok. I think I have only ordered from them once. I bought from MCM, APMEX and BullionExchanges. I like the lower price and have been contemplating sending the check, so it looks like the next time I get some extra $$ I'll be sending a check. Thanks for the info.
 
rep308 said:
Can someone give me the metals 101 tax situation for a MA resident? For example, do I have to pay sales tax in MA? Can I drive to NH and pay my use tax when I file my state taxes the next year? Do I have to pay capital gains on any increase in value? I understand the buy/sell spread but the implications of 6.25% sales and cap gains has me confused. I also assume that transactions over $10K trigger special paperwork like in banks.

My only silver is junk silver that I've picked up over the years and from left over coin collecting. Thank you in advance.
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i wouldn't pay a "use tax" on something that i'm not actively using. [wink] boston bullion is the only place where i have bought in person, and they will collect sales tax for purchases under $1000. anything over that is tax free. used to be pretty much cash and carry, no i.d., no paperwork. not sure if that's still the case as i haven't been in a few years.
i do believe rob boudrie posted somewhere in this thread about what you can expect for taxes when you sell.
 

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