Investing in Precious Metals

[FortTom]

Since I'm not buying a lot of firearms lately or accessories, it frees up a lot of extra capital.

Stone - No, didn't get charged sales tax.... like you mention if they did, insane to think you're getting taxed on converting your money.

KY charges tax. You're not actually "converting" your money, like you when you go to another country. You are purchasing a product from a non-government - for profit entity, for a certain amount of silver, gold, etc.. just the same as if you "converted" 3M into a Bugatti. Some states do, and some don't. But I do get mine shipped free so it's almost a draw.

FT

[Former11B]

Since I'm not buying a lot of firearms lately or accessories, it frees up a lot of extra capital.

Stone - No, didn't get charged sales tax.... like you mention if they did, insane to think you're getting taxed on converting your money.

If you’re buying Eagles or junk silver, it’s US Currency so you shouldn’t be charged tax since you’re basically exchanging money for money

[Stone]

Your logic is sound but state gov. see it differently...

[Former11B]

Your logic is sound but state gov. see it differently...

I guess some states do. Mine doesn’t. Never paid tax on currency

[FortTom]

If you’re buying Eagles or junk silver, it’s US Currency so you shouldn’t be charged tax since you’re basically exchanging money for money

I think I understand what you're saying. For example, you're going to buy a 10 pound bag of 90% silver. Dollars, Half dollars, all in dimes.
O.K. you buy a bag of "junk" silver. Lets assume, for the sake of argument, you purchase one 100 Pound bag. O.K., you now own a bag of coins, that you could melt down for 90% of coins, minus what you paid for that bag of coins. Nobody is tracings dollars and silver at a 1 to 1 ration, or more simplified, no one is selling you money for even money. Someone is going to make a profit.

O.K., now you're going to charge an ounce, whether a Lady Liberty for the face value of 1 dollar, knowing it's worth a bunch more.
11B, do you see where I'm going with this? You aren't spending a dollar for a dollar's worth of silver, gold, etc... You're buying a Liberty Dollar, which has a value of one dollar, like a walking liberty. You're buying (today approx. 15.00) at a premium for the face value of a dollar.

Get the Tax thing now? Seller is charging a dollar per ounce, is in business as a gold/silver, coin for a profit. Same thing with the bag of US minted coins.,,an old silver dime spends like a new one, at the cash register. But you wouldn't spend that old dime for nothing.

Bro, I get what you're saying, but taxies, as much as I hate them being shove up my butt, is almost impossible, but (wink...wink...wink.) trading PM's is a great way to invest, but you'll have to talk to you're attorney about that. Not a dumbass like me...

Anyone agree or disagree?

FT

[Stone]

Do as they do, not what they say: https://gsiexchange.com/jp-morgan-co...silver-market/

[UWone77]

The wife is already like... I like this silver... why don't we buy some gold?

Silver babes... let's just stick to Silver...

[BoilerUp]

The wife is already like... I like this silver... why don't we buy some gold?

Silver babes... let's just stick to Silver...

Then again, if you are going to put $$ into PM assets, anyway, you might as well get it in a wearable form that keeps the wife happy while we all wait for Armageddon.

[UWone77]

Then again, if you are going to put $$ into PM assets, anyway, you might as well get it in a wearable form that keeps the wife happy while we all wait for Armageddon.

She doesn't wear jewelry, and other than a couple of nice watches on my end, I don't either. A stack of silver coins looks good though.

[fledge]

She doesn't wear jewelry, and other than a couple of nice watches on my end, I don't either. A stack of silver coins looks good though.

These better start showing up in your gun pics as props. Gotta see what all the fuss is about!

[Stone]

Here is a rare little beauty I just picked up.
There is a whole subset of a rare bar collectors out there. https://allengelhard.com/
Some of the rarest Engalhards ( 4 and 7oz. bars) have sold for over 6K! Do the math... And yes thats 4oz. of silver...

[Stone]

Mike Maloney did a great job putting together a video series, The hidden secrets of money. 10 episodes in all, here is number one...

[mustangfreek]

These better start showing up in your gun pics as props. Gotta see what all the fuss is about!

Lol

[UWone77]

Here is a rare little beauty I just picked up.
There is a whole subset of a rare bar collectors out there. https://allengelhard.com/
Some of the rarest Engalhards ( 4 and 7oz. bars) have sold for over 6K! Do the math... And yes thats 4oz. of silver...

You know it never occurred to me that silver bars were possibly collectible. Especially since I'm thinking... you can just melt it down at any time and brand whatever you want on them. I could see how some older ones would be cool though.

[Former11B]

You know it never occurred to me that silver bars were possibly collectible. Especially since I'm thinking... you can just melt it down at any time and brand whatever you want on them. I could see how some older ones would be cool though.

I like to buy easily recognizable silver/gold. Less likely someone would think it’s a potential fake and not accept it. Unless they have an earth metal magnet...I’d rather not file any off to test with nitric acid


This my only non coin. Got it for my son and he thinks it’s pirate treasure