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Fell into a deal@LCS


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So far I haven't been quick enough to make a profit. I am happy to continue to buy as long as his premiums aren't to much over spot. I figure that they will go up over the long term and the grandson (3 on the 4th of July) might find use for them. And if the zombie/ werewolf Apocalypse comes I can melt them down and make bullets, for the Israely hand cannon, and the .50 cal Beowulf :clown2:

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I'm a firm believer in holding silver. I do however sell most of what I have when I think the price is peaking. Then I use that same money to repurchase when I think it's at a low. Overall I've made money doing this most of my life. Gotta watch those premiums and taxes they can more than eat any profits.

 

Swapping is supposedly a tax-free way to cash in but I've never tried it.

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Approximately what percentage goes towards taxes and fees?

Hard question to answer. Sales tax here is 7%. Many dealers are selling silver at 21.50 to 22.50 ounce in decent quantities and as much as 24 to 26 dollars for single ounce. On the buy side they usually pay approx spot. So it's hard to realize a profit if paying on the buy and then getting spot on the sale. Some people I know deal only in US coins as many dealers won't charge sales tax or at least not on the fsce value.

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Nice finds. I really like those buffalos.

Yes, they are in the heat sealed pouches, I will be breaking them out and putting them in the art bar sleeves. but they both the Indian head and buffalo are very finely rendered . they match the rounds with the same designs from a while ago.

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FullSizeRender 27

 

FullSizeRender 28

Art round bar producers getting milage out of old dies and slow sellers! LCS got a number of assorted Error rounds in his last order. since I all ready had one of the normal rounds I thought that I would pick up one of the errors.

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Yep it might help the grandson who is 3 today buy a used car someday if it continues to rise at a steady rate broke the $20.00 mark when the markets opened last night. :bhyper::bgreen::clown2:

I have a similar plan for my great-grandsons. I'm putting an ounce a month away for each of them. Not much but over 20 or so years it should build nicely. I'm planning to add extra for special days like birthdays, Christmas, etc. I haven't really found a single source for my stuff so I've started using 1 oz bars. I'd like to switch that to adding one ounce of silver coins each month. Must find a good source for these.

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