Gold and silver prices are down

AJK129 said:
Do these work the same as coins where you need to spend over 1k or MA taxes it?
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I imagine so.

A number of years ago I had purchased a couple of these on ebay. The dealer attempted to charge MA sales tax, saying each individual item was worth less than $1K. I pushed back but the dealer felt his interpretation was correct. For all I know this dealer was pocketing the sales tax. So I shopped elsewhere.

All other dealers I've dealt this dropped the sales tax for an order total over $1K.

Got someone in a neighboring state you could mail it to???
 
richc said:
I imagine so.

A number of years ago I had purchased a couple of these on ebay. The dealer attempted to charge MA sales tax, saying each individual item was worth less than $1K. I pushed back but the dealer felt his interpretation was correct. For all I know this dealer was pocketing the sales tax. So I shopped elsewhere.

All other dealers I've dealt this dropped the sales tax for an order total over $1K.

Got someone in a neighboring state you could mail it to???
Click to expand...
I can always go through the checkout and see if they apply it. Worst case I ship to my friend in NH
 
CJMAC said:
Stupid question. But if the shit hits the fan. Is an American eagle 1 oz coin going to be worth more than a dearth Vader 1oz silver coin. It will just be the value of the silver not the collector value right. If I can buy 500 coins for 14,000 vs 18,700 for American eagles. They are both 1 Troy oz. Thoughts
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I’ve never been a fan of private or collector pieces. I like govt coins such as US 90% or silver Maples as they are recognizable, more easily tested through simple measurements but less expensive than US Eagles.
 
Leaving show.

Chatted with one dealer. He showed up and other dealers bought the $2000 face value junk silver he had.

Lots of commemorative silver coins. World coins too. Very little in the way of US silver for sale.

Silver rounds selling for $31. Off brand silver bars $32.

A few dealers said they’ve never been busier. Hard to get product to sell.

That’s all folks.
 
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www.kitco.com

China extends its gold shopping spree to five months, buying 18 tonnes in March

(Kitco News) -China’s appetite for gold remains insatiable as the latest data from the People’s Bank of China bought 18 tonnes of gold last month.
www.kitco.com


247wallst.com

Countries Buying Up the World’s Gold – Page 6 – 24/7 Wall St.

Source: spooh / E+ via Getty Images 5. Poland > Chg. in gold reserves since 2017: +125.7 metric tons, reaching 228.7 metric tons in 2022 > Chg. in value of gold reserves since 2017: +$9.1 billion, reaching $13.3 billion in 2022 > Chg. in share of total reserves since 2017: +4.2 ppts, reaching...
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richc said:
At the show and it is reasonably busy. A bunch of old timers of the male of the species.

Very little in way of billion coins. Prices are high. $900 for 1 kilo bars of silver. $2875 for 100 ounce bars.



View attachment 740344
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I was there as well. Busy as I’ve seen. Rolls of ASE were ~$735, gold eagles were ~$2,150.

This was the best deal I could find, free peanut butter cups.

B3179C91-5136-4925-BE33-07E30957923C.jpeg
 
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AJK129 said:
Do these work the same as coins where you need to spend over 1k or MA taxes it?
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Yes. I’ve bought from Bullion Exchange numerous times. At first their eBay store charged sales tax to MA if you were buying under $1k but if you went direct to their website they didn’t. Then a few months later their website started charging it too.
 
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We keep hearing about a loss of confidence in banks. Loss of confidence in holding the US dollar. Certainly that fear is driving some folks towards PM purchases, although, based upon what I've seen in my lifetime, you ain't seen nothin' yet.

PM's are still available, albeit expensive. Lots of items are out of stock. But I've seen times when everything was out of stock. Things could not be purchased at all. During the last one of these an NES member who shall remain nameless sold some of his 100 ounce silver bars privately for $4000. Physical gold/silver were selling for far more than spot or futures prices.

Wouldn't surprise me if we end up back in that place. With Apmex selling Silver Eagles for $20 over spot... YIKES! PCGS rated, MS-63 Saint Gaudens for $500 over spot. There clearly is large demand.

Part of me also wonders if/when we'll see bartering going on for gold/silver items? When people will take PM's rather than the formerly mighty US dollar? I haven't see any of that yet. But if things continue it would not surprise me. If/when PM's are just not available at any price, will we see barter? Will we see exchanges made via PM's rather than currency? Because more of the population is seeing the erosion of the US dollar in the world markets, and attacks from the BRICS nations and more?

Thoughts appreciated.

Rich
 
One other thought. As mentioned before the coin show was populated with old guys. Lots of us old guys.

But as I scanned the dealer tables there were not many young folks. And quite a few portly old gents with canes.

I wonder if we're seeing the slow death of the numismatic industry? As these old fellas die off, what happens to the industry?

I don't think I talked with anyone under the age of 50 at a dealer table. And a few that were clearly 70 and above.

Is numismatics on the way out?
 
richc said:
One other thought. As mentioned before the coin show was populated with old guys. Lots of us old guys.

But as I scanned the dealer tables there were not many young folks. And quite a few portly old gents with canes.

I wonder if we're seeing the slow death of the numismatic industry? As these old fellas die off, what happens to the industry?

I don't think I talked with anyone under the age of 50 at a dealer table. And a few that were clearly 70 and above.

Is numismatics on the way out?
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I've worked in the coin business, in one capacity or another, for over 40 years and I can tell you that there are definitely fewer young collectors now. When I was a kid, it seemed like almost everyone collected coins to some extent. There were also far more local coin shows, where you could see all kinds of coins in person, rather than looking at pictures online. There was a coin show within a one-hour drive almost every week. Unfortunately, many "collectors" these days are the people getting badly scammed with coins that they're buying from TV shows.
 
JMHO:
Numismatics - decline likely at least partially attributable to not using PMs as money any longer
Barter with PMs - as soon as CBDCs come into popular use. AS long as we have cash I think majority will continue to use cash.
 
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richc said:
One other thought. As mentioned before the coin show was populated with old guys. Lots of us old guys.

But as I scanned the dealer tables there were not many young folks. And quite a few portly old gents with canes.

I wonder if we're seeing the slow death of the numismatic industry? As these old fellas die off, what happens to the industry?

I don't think I talked with anyone under the age of 50 at a dealer table. And a few that were clearly 70 and above.

Is numismatics on the way out?
Click to expand...
The kids today all have credit or debit cards. Few prob have little cash on hand let alone gold/silver.

Prob get their allowance via Venmo.

.gov is doing a good job weaning the next generation off cash, let alone having them think of pm’s.
 

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