Latest Score - gold

[yellowsnow]

a common (1911) AU sovereign at spot + 5% tax

[motocat]

Cast Valcambi 50gram bars at +$30 oz or +1.8%. Very good premiums. And at yesterdays spot prices given I sell gold ETF's bought recently at under $1700 when I'm buying phyiscal.

A lot of good deals this Christmas season --- many other bars in this range to, however I'm finding 50 grams, which is like 1.6 oz -- to have the lowest premiums, better than 1 oz, and in a unit not to big, not to small....

Argor-Haraeus KineBars I've also found on sale recently -- and with their holographic imagery at the back -- I would say they are the prettiest plactic wrapped ("in assay") bars to be found....(got some at spot).

[maxwellsilverhammer]

Gold Buffalo Proof for $1850. free shipping.
This is a copy/paste of email I got and took advantage of...

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[motocat]

Thanks maxwell.

[dukadan]

So buying online one has to pay 7.25% or more in California sales tax plus premiums plus shipping maybe.
If an ounce for spot is 1800. And it goes for 1850$. Then 1850 x .0725 is about 134$ sales tax. Plus the 50$ over spot. 134+50 = 184$ over spot to buy online one ounce. In my state it is about 87$ tax plus the 50$ premium is 137$ over spot per ounce.
I suppose it’s fair the local LCS is selling oz pandas maples krugerrands philharmonics for 150$ over spot. The AGEs are 200 over spot. Buying from LCS saves paper trail the hassle of waiting for a package in the mail run around mail a check or keep refreshing the tracking number to follow it while ordering online. Perhaps 150$ over spot is cheap in many places?

[LongDonSilver]

dukadan, if I had to pay tax, and lived in CA, I'd be trying to get free airfare to Vegas from a casino or two and then make a stop at a LCS in Nevada. Here in NY we just need to buy over $1K in PM to not have to pay state tax. So I try to never buy small amounts. Or perhaps find a loophole buying without tax at a coin show if dealers are willing.

[motocat]

So buying online one has to pay 7.25% or more in California sales tax plus premiums plus shipping maybe.
If an ounce for spot is 1800. And it goes for 1850$. Then 1850 x .0725 is about 134$ sales tax. Plus the 50$ over spot. 134+50 = 184$ over spot to buy online one ounce. In my state it is about 87$ tax plus the 50$ premium is 137$ over spot per ounce.
I suppose it’s fair the local LCS is selling oz pandas maples krugerrands philharmonics for 150$ over spot. The AGEs are 200 over spot. Buying from LCS saves paper trail the hassle of waiting for a package in the mail run around mail a check or keep refreshing the tracking number to follow it while ordering online. Perhaps 150$ over spot is cheap in many places?

1. You only pay sales tax in CA on gold bullion if the amount is under $1,500. This is well known, and competent dealer would tell you this. I have never heard buying online makes a difference, and have done so online for years with no such tax. Did you come across any news that 2023 brings changes??

2. As for what you can typically find common gold bullion for, I usually find for +3% or less, more like +$50 than +$150. Check out my posts in this thread. Of course, not true for the AGE anymore, as the U.S. mint is staffed with incompetent & corrupt employees who do not give a hoot about the welfare of the common American.

3. Agree that going local is always best. Just hope they informed you of the $1500 rule. My own local will usually match what I find online.

[motocat]

Folks, since Christmas you could be getting physical gold in gram denominations for very low premiums, in the form of some very nice bars (Argor-Heraeus) with a holographic at the back. I like the 50 gram size, that is about 1.6 oz -- for a premium about +$20/oz over spot, that's less than 2%!! Just ordered another today.

Really, I don't see why some here will pay well over a hundred for some Eagles, something the mint can fabricate for a few cents (yes - -that's why coins exist).

Gold is money, treat it as such, do not pay to much for the exchange from dollars.

Now, perhaps some here are not buying due to spot price having increase over $300 dollars since the lows. Well, that's why you want to buy digital gold at the lows to lock in that spot price!

[motocat]

I am surprised there is not more interest in some nice gold bars going for $20 per 1 oz over spot as noted in my last post -- this has been around all of this year. I have seen so many complaints over the years on how high the premiums are on gold, however you can trade currency for gold at lower premiums then you can find with paper currency, lower than cyber currency, lower than finance fees for credit card use -- so the inefficiency that was often used as an excuse for avoiding holding and dealing in gold money is a false excuse.

The real reason is, many Westerners have simply become lazy computer junkies who are programmed remotely as needed, they do not like to get out of the house and deal with real physical things, thus the explosion of internet porn and digital/virtual everything.

[maxwellsilverhammer]

I am surprised there is not more interest in some nice gold bars going for $20 per 1 oz over spot as noted in my last post -- this has been around all of this year. I have seen so many complaints over the years on how high the premiums are on gold, however you can trade currency for gold at lower premiums then you can find with paper currency, lower than cyber currency, lower than finance fees for credit card use -- so the inefficiency that was often used as an excuse for avoiding holding and dealing in gold money is a false excuse.

The real reason is, many Westerners have simply become lazy computer junkies who are programmed remotely as needed, they do not like to get out of the house and deal with real physical things, thus the explosion of internet porn and digital/virtual everything.

these days, unless i get an overwhelming deal on gold, i am saving my cherry for silver purchases at or near spot