It’s the principle of paying taxes vs not paying taxes, nothing about hate involved, unless they(Costco) are only trying to sell singles to get the taxes, supply & demand, simple enough.
I noticed Costco has a little lag time maybe 24 hours. It's a good time to buy either online or at the warehouse when prices are rising. When prices are falling you might want to hold off a day. I had an employee even offer to call me when they got some in. Lately they have had gold Pamp bars and 10 oz silver pretty much every time I go in. Got a Koi fish gold bar $26 over spot the other day then $105 back between membership and credit card.
I live in Canada…bought a few oz from Costco, delivered to my door no problem., as I can’t purchase at warehouse directly here in the province I reside in. When looking at prices in USA at Costco , there is a significant discount to what we are paying even with the currency exchange…about 30$ a bar. So I thought I’d call a Costco in a bordering state and go see if I could purchase a few bars. The Costco I called stated they were sold out…and that they sell out very quickly, almost immediately…told me to check back periodically, but they don’t know when they get product in stock. Long winded reply…citizens are starting to stack bouillon…Costco sales is a tell that society is getting concerned and buying bouillon as a hedge. Just an honest real world account of my experience and observations
I said it a long time ago to the people I know. One day the price of the premiums will be the same price as the spot silver or gold. When the millionaires and billionaires start shutting down coin shop, bullion dealer stores to buy out everything they have, and you start seeing "Homes for Gold" is when the mania will be in full swing.
@@D33Lux I’ve been long PM …especially silver. I believe it’s one of the most under appreciated assets. Keep holding your physical and trade the miners and stocks as you feel fit. My physical metals is my hedge and insurance to a collapsing fiat and hedge to inflation. Governments print money like there’s no tomorrow…unfortunately not for the better good of it’s citizens
California 3 purchases .. no taxes above 2000 usd purchases. Online door delivery no issues.. all purchases were well below spot after 2 to 3 days. Very pleased. I used executive memembership and cc rewards too.. crazy good deal.
Imagine going to the bank with a $10 bill asking for a roll of quarters and they tax part of that $10. No reason they should be charging you tax at all
This is EXACTLY how I put it. Except I use the denomination of four quarters for a dollar. But they charge you tax, and give you 90 cents instead. A dollar is a dollar. Makes zero sense.
@@blackpearl9504 because people are dumb enough to not challenge it. When people are distracted it's a lot easier to do crime. So when everybody was distracted on Christmas Eve 1913 they were able to formulate and start the Federal Reserve and within a year put something into the Constitution that demands I pay taxes every time I get a paycheck. It's criminal what they do but nobody did anything about it and right now they have such a stronghold on everything that it's basically a giant waste of time and money to even fight these people over the illegal crap they do. At some point people will likely revolt, or, they will be enslaved but either way folks are going to starve and that sucks ass
@@LatimusChadimus I hope we are all dead before a digital dollar becomes a real thing but when it does they will have to make it really hard to live life without using it...If humans last long enough without killing each other clad coins will be collectible one day lol...someone going to be trying to explain to their grandkids we had to physically hand money to another person to buy stuff and sometimes they had to physically give us back change and the kids will laugh at the idea...
in New York all silver is taxed unless you purchase 1000 dollars' worth at a time. I guess that the small retail purchaser is expected to bear the tax burden again. Why am I not surprised.
I was shocked to actually see them in my store this Saturday. Bought 5, no tax (AZ). Great bars, $289.99 before using my Costco card that will get me 4% back.
Thanks SpegTacular. I purchased 2 from a local Costco to avoid taxes and was able to coach them through it because of your video 😂 They had to go read about FL taxes on some chart. No one knew about $500 in FL. Don’t give in to trolls! I’ve also got purchasing gold and silver for Costco online down to a science. 12 items in all that’s been offered online in the US.
Our State passed a Law Exempting taxes on All Bullion, foreign or domestic, Numismatic coins , foreign & domestic, currency, foreign & domestic, on October 1, 2021.
Online Costco has silver and gold coins all the time. But they usually sell out pretty quickly so you have to be fast. I've bought both some Maple Leaf and Silver Eagle rolls lately when they had 'em. And Costco did the calcs right and I paid no sales tax as it's not taxable in my state. Also get the exec and credit card cash back so it's cheaper but not as cheap as the bars. Still haven't seen any physical silver at any of the Costcos I frequent.
One other thing I'd like to say and know is, in Canada 🇨🇦 we are not allowed to but directly from the mint. Only licensed coin dealers can and that's where premiums kick in. Can my American cousins buy directly from the U.S mint or can you only buy mint products from licensed dealers?
I spoke with my contact at the corporate office. I was told they use the gold to entice customers into the new store. So all newly opened stores no matter how big or where they’re at, those are the store that stock gold intermittently. Good content.
Some Dealers still messing up. I'm from Florida too and cancelled a recent order during processing at Bold Precious Metals because even though I had over $500 in gold and silver they tried to tax me on the gold.
Thanks for this video. I bought some silver coins online at Costco and remembering the 2000.00 no tax limit saved me 153.00 in tax when I bought one extra tube.
for anyone wondering, I cross referenced the serial numbers with another video. the bar he didn't scan here, for lulz, was scanned as pure before, and the one he skipped before is scanned here. Keep spamming at your leisure, but it checks out.
I just ordered a tube of 20 Silver Eagles today (May 13, 2024) from Costco online for $679.99 shipped to a no-tax State. The online order correctly calculated no tax and no shipping. The rate got me the 2% costco rebate back and was between $80 -$100 difference off of my normal 2 silver sites I order from.
@macbrazzle754 I own lots of metal, since 2007, but crypto is much better for growth and preservation. Definitely bitcoin. 80% crypto, 20% metals. Now is the time to buy. The next 6 months are going to make people a lot of money
You have to spend over $500 before it's tax exempt? That's ridiculous. In Canada, all precious metal bullion is tax exempt, regardless of whether you're buying by the grain or the ton!
I bought a gold buffalo today from costco it was under spot with executive account and cc cash back I also got a roll of maples for 787 after rewards, well under other online stores especially their credit card pricing
I just checked on costco website and for my area (?) they have ASE roll for $679. I might pull the trigger. Delivery only. Just figured I would pass on info in case anyone has same deal.
I’ve been weary to buy silver in the last five months. I’m in the green on all My silver right now just over a kilo. But I can’t get myself to pay current prices.
I am in CA and the tax exempt threshold is $2000. It makes no sense to me why some people have to pay tax and others don't. Wait a minute.....it makes perfect sense. They cater to the more well off.
Imagine going to the bank with a $10 bill asking for a roll of quarters and getting taxed for the transaction. Nobody should be getting taxed on bullion
@@jeffnelson4489 and the Right essentially repeal corporate taxes for businesses and the wealthy. Maybe we need laws that is fair to everyone. Bet you think you really scored with Trump tax cuts and his trade tariffs?? Because lying Fox “news” told you..? They sure took a haircut for lying to viewers on behalf of the Right..
A sales tax is imposed on retail sales in California, but bullion product sales exceeding $1500 are exempt from the state sales tax. This includes bullion coins, bars, and rare coins, and covers both individuals and businesses. Bullion sales under $1500 are subject to state and local taxes, which vary from municipality to municipality.
For once I catch a tax break in Michigan......." These taxes must be collected on (1) copper products; (2) palladium products; (3) any bullion products made of gold, silver, or platinum if their purity is less than 900 parts per 1,000; "
I bought over $500 from apmex the other day and they tried to charge me tax on the 2 ASEs that got! I had to submit a claim, but they did finally refund it to me.
Dallas/Ft Worth TX area- I was just told by a membership customer service lady, that not all the stores carry gold and silver, or maybe just one or the other. So I am marking many off my list to call every other day, but I will get a hold of a store manager to verify this and let you all know.
Ugh. Just aggravates the hell out of me that Nevada (the Silver State - as our motto goes) has sales tax on silver/gold….no exceptions. Kind of ruins the desire to buy as it’s around 81/2 %.
I live in NV and have never paid tax on gold or silver bullion. Not at my lcs or when ordering on line. Tax is charged on numismatic coins and copper bullion in NV.
@@deniseclaeys8295 Sometimes some do and sometimes they don’t. Costcos eagles, maples and bars always have tax. Ebay always does. Pinehurst (online) does, Kzoo online doesn’t. I went to a coin store on Eastern today and they said they didn’t. It seems like the bigger online like Apmex do, and smaller privates don’t. I challenged Costco on their policy but they responded with NV law that said they had to..and when you want to buy a few tubes of Eagles at Costco that tax is brutal. Anyway, thanks. It just seems like it is a big hit or miss mess. And if you pay the 8.whatever tax here, then what you bought has to go up by that much just to back to even.
On the phone with one of the Texas stores, a manager spent over 15 minutes talking to me. Very nice guy. It is true, only certain stores get either gold or silver, this store only gets gold bars, he has been there for 3 years. He did say -all is determined by corporate, he will get an email saying in one hour or so, your store will be receiving this gold bar delivery, normally in a quantity of 16. And of course, the limit is 5 per purchase. But not all stores get precious metals and something from corporate is driving the type and quantity to each store. I am wondering if I can contact corporate somehow and ask if I could have a certain amount sent to the store closest to me? And I have never seen 5 or 10oz silver bars online. have you?
Speg old friend. I have missed you a bunch with the Tubes notices. Good to see you bud. I love the no tax on bullion that is in place here. Kind of like Nervana eh, LOL.
Yep, to get us idiots to comment more so he can get more traffic. Everyone wants as many subscribers and traffic. I'm guilty of being one of those idiots. We all need a life. Buy silver, exercise civil disobedience, refuse to pay taxes, take all currency out of banks, and don't fuel the beast.
@@DJSolistica now he just needs to figure out how to get it to NOT verify 😮 then what the heck content 😊 I laughed when he purposely set that one aside 😂😂😂 Define trolling 😊
I went n got 5 in CT where its tax free over $1000, went smooth but def gotta buy them first when you go in and go right to the managers desk with the slip.
I'm sure it's a nightmare to program all of the tax laws for each state and product into the POS software. Even online Bullion dealers, much less Cosco.
You can go to your local coin shop and get great prices. Plus it's better to support smaller businesses. Be careful with buying silver and gold in heavy weights because you might have a hard time selling it at the local coin shop because that's about the only place you will be able to sell your metals when you need to. You bring a several hundred Oz bars into your local coin shop and they'll know exactly what kind of a Costco Shopper you are and they'll beat you down on price
Virginia also had a tax on bullion purchases by people who were not rich (no tax for purchases > $1000) but did the right thing and removed that regressive tax.
Yeah I'd check your state laws for JM Bullion because they are charging taxes for Nebraska. Nebraska Revised Statute 77-2704.66 states "(1) Sales and use taxes shall not be imposed on the gross receipts from the sale, lease, or rental of and the storage, use, or other consumption in this state of currency or bullion."
I've been going to the Costco website for months now to check for bars and coins and nothing ever populates following a search. Same for visiting my local Costco-nothing is ever in the jewelry case. I'm guessing I'll need to ask the local Costco store manager if they ever order bars or coins. On their website what search terms are you using?
Here in Canada 🇨🇦 we don't have to pay tax on silver maples ot other RCM silver like bars. However, if you buy scrap Canadian or American silver then we have to pay tax.
Where did you get that Precious Metal Verifier device? I am just getting into stacking and if that device can reliably detect real precious metals from forgeries then it seems like it would be a good investment.
It's rather expensive and not completely foolproof (nothing is) but very good. It uses high frequency induction which induces eddy currents in the metal. Silver is probably the most conductive metal in existence. So a combination of size, weight (density) and conductivity pretty well establishes what it is. For silver coins and rounds, a simple "ping" test works pretty well. Silver makes a distinctive sound so you ping it and a cellphone "app" displays the frequencies heard.
As a Maine resident, stacking is now a challenge. Finding sales are always a good idea, but a necessity when you have 5.5% tax to cover. Really time to move I think.
I was reading a 5 bar max in California on the website meaning i always would have to pay tax. The governor in California is greedy in fact he also charges about 2.00 a gallon tax for gas.
Damn! You can literally walk into a Costco in Fl pick a bar off the shelf and purchase it at the checkout? I am a member on Long Island NY and they don’t have them here. I need to move. My state sucks.
New subscriber - love your Costco silver videos! Appreciate the info on state tax - seems Virginia requires $1000 or more to avoid sales tax. Will check if my local Costco has them in stock. And like others have said - ignore the trolls! 🙂
This is because you're buying a product made out of silver you're not buying or exchanging currency for currency this is why I tell people you need to buy silver eagles or Gold Eagles additionally if you go to sell that bar and it appreciates and value the person who buys it say a pawn shop or some other entity has to report the purchase and who you are to the IRS that means you've got capital gains to pay if you are using Gold Eagles or silver eagles is just an exchange of currency if that Gold Eagle went from 2,200 to $5,000 the buyer has no obligation to report anything to the irs because they are just exchanging currency for currency
😢 Anybody knows 🎉why Apmex via Walmart online charges tax on gold and silver even though the state that I live has no sales tax on gold and silver purchased by residence (in-person and shipping address in state and into the state- no tax)?
I just got a delivery from WMT on Saturday, May 11, 24. They charged tax from the WMT app. The invoice from APMEX didn’t have tax on it. The rep on the phone gave me a credit for $15 and took the tax off and put it back to the credit card for a $660.00 purchase in Colorado.
I tried to explain to the cashier there was no sales tax, then I had to explain it to the clerk at the pickup counter, she’d never heard of it either, she then went and ask the manager, problem solved.
makes you wonder how much costco has taken in on taxes they should not have collected on this silver as a lot of people might not catch the error. also i unfortunatelly cant do silver at costco, unless they also have gold. im in california and our tax exempt amount is over 2000
Combine Costco location differences, Sales Tax differences county to county, and no delivery options and it just gives me a headache. To my knowledge, none of the FIVE Costco stores near me has EVER had a gold bar available. When you go online, in California you pay sales tax on bullion purchases UNDER $2000, silver is limited to 2 items so you never reach the threshold. Sales tax varies according to which store you take possession of the bar. There is NO delivery option- the purchaser member must personally go to the store with photo ID, costco card, and credit card used for the purchase in order to pick up. That's the policy here, but as mentioned, there are no bars available. I thought of asking my brother in a different state to buy for me, but at his age that would just be cruel. They were selling tubes of silver eagles, but same story- no availability and sales tax added.
First off Thanks for posting this video! Personally I would have bought the 10 0z bar, thinking that if silver hits triple digits this summer, I would have made a good investment regardless of the sale tax. Thankfully where I live there is none, only on Constitutional silver and collectables. Cheers!
Well this comment aged well. Triple digits?! Silver won't even be hitting half that ($50), by next summer... You didn't actually anticipate triple digits did you?
@@BoDiddlydodah "THINKING that "IF" silver hits triple digits this summer..." This is what I posted, I stated NOTHING about it hitting triple digits by this Summer... you need to work on your reading comprehension. Yes, I believe it will hit Triple digits before too long, with the amount of digitized and printed FIAT why shouldn't it?
Interestingly, in the state of Nevada, I have NEVER paid sales taxes on anything (rounds, bars, sovereigns) so I don't think this is turned on completely or the definition is up for liberal interpretation.
I bet they would have had the 5 if they rang them up with the tax. Once you have them in front of you then you talk about the tax. Might be worth testing next time.
ignore idiotic comments. Come on man. It's Costco. Why are there so many haters? Anger I guess. I bet most of them are in front of me in line on the weekends.
You are my hero for not doing the last bar! Eff the haters
Not hating, just adding more content.
You are my hero for not doing the last bar!
It’s the principle of paying taxes vs not paying taxes, nothing about hate involved, unless they(Costco) are only trying to sell singles to get the taxes, supply & demand, simple enough.
OMG that’s ridiculous. Where do u come up with this garbage.
@AreU4Real1 what is ridiculous?
Paying tax on MONEY is just nuts, period! There shouldn't be tax even on a single bar.
It’s still a currency
@Armored_Ariete NO. Check again.
@@idunnoanymore2870 no it is not. what he is buying is bullion and bullion is not legal tender
@@idunnoanymore2870 No, it's not a currency, it's a commodity.
Absolutely! None where I live.
I noticed Costco has a little lag time maybe 24 hours. It's a good time to buy either online or at the warehouse when prices are rising. When prices are falling you might want to hold off a day. I had an employee even offer to call me when they got some in. Lately they have had gold Pamp bars and 10 oz silver pretty much every time I go in. Got a Koi fish gold bar $26 over spot the other day then $105 back between membership and credit card.
I live in Canada…bought a few oz from Costco, delivered to my door no problem., as I can’t purchase at warehouse directly here in the province I reside in. When looking at prices in USA at Costco , there is a significant discount to what we are paying even with the currency exchange…about 30$ a bar. So I thought I’d call a Costco in a bordering state and go see if I could purchase a few bars. The Costco I called stated they were sold out…and that they sell out very quickly, almost immediately…told me to check back periodically, but they don’t know when they get product in stock. Long winded reply…citizens are starting to stack bouillon…Costco sales is a tell that society is getting concerned and buying bouillon as a hedge. Just an honest real world account of my experience and observations
I said it a long time ago to the people I know. One day the price of the premiums will be the same price as the spot silver or gold. When the millionaires and billionaires start shutting down coin shop, bullion dealer stores to buy out everything they have, and you start seeing "Homes for Gold" is when the mania will be in full swing.
@@D33Lux I’ve been long PM …especially silver. I believe it’s one of the most under appreciated assets. Keep holding your physical and trade the miners and stocks as you feel fit. My physical metals is my hedge and insurance to a collapsing fiat and hedge to inflation. Governments print money like there’s no tomorrow…unfortunately not for the better good of it’s citizens
@@bearhead77 Inflation is taxation without representation. Fiat currency is 100% tax - on ignorance for allowing it.
California 3 purchases .. no taxes above 2000 usd purchases. Online door delivery no issues.. all purchases were well below spot after 2 to 3 days.
Very pleased. I used executive memembership and cc rewards too.. crazy good deal.
Imagine going to the bank with a $10 bill asking for a roll of quarters and they tax part of that $10. No reason they should be charging you tax at all
This is EXACTLY how I put it. Except I use the denomination of four quarters for a dollar.
But they charge you tax, and give you 90 cents instead.
A dollar is a dollar. Makes zero sense.
@@blackpearl9504 because people are dumb enough to not challenge it. When people are distracted it's a lot easier to do crime. So when everybody was distracted on Christmas Eve 1913 they were able to formulate and start the Federal Reserve and within a year put something into the Constitution that demands I pay taxes every time I get a paycheck. It's criminal what they do but nobody did anything about it and right now they have such a stronghold on everything that it's basically a giant waste of time and money to even fight these people over the illegal crap they do. At some point people will likely revolt, or, they will be enslaved but either way folks are going to starve and that sucks ass
that might be a reality one day :) lol
@@cutlerylover oh you shush that mouth right meow 😭😭
@@LatimusChadimus I hope we are all dead before a digital dollar becomes a real thing but when it does they will have to make it really hard to live life without using it...If humans last long enough without killing each other clad coins will be collectible one day lol...someone going to be trying to explain to their grandkids we had to physically hand money to another person to buy stuff and sometimes they had to physically give us back change and the kids will laugh at the idea...
in New York all silver is taxed unless you purchase 1000 dollars' worth at a time. I guess that the small retail purchaser is expected to bear the tax burden again. Why am I not surprised.
I'm in the same NY bs tax issue. Ebay charges me tax on gold and silver over 1oz. Now I have to fight with them to get reimbursed
I was shocked to actually see them in my store this Saturday. Bought 5, no tax (AZ). Great bars, $289.99 before using my Costco card that will get me 4% back.
What location did u buy them at ?
Az here- what city?
Thanks SpegTacular. I purchased 2 from a local Costco to avoid taxes and was able to coach them through it because of your video 😂 They had to go read about FL taxes on some chart. No one knew about $500 in FL. Don’t give in to trolls!
I’ve also got purchasing gold and silver for Costco online down to a science. 12 items in all that’s been offered online in the US.
Nice! Glad he could help. Keep educating them!
Our State passed a Law Exempting taxes on All Bullion, foreign or domestic, Numismatic coins , foreign & domestic, currency, foreign & domestic, on October 1, 2021.
Online Costco has silver and gold coins all the time. But they usually sell out pretty quickly so you have to be fast. I've bought both some Maple Leaf and Silver Eagle rolls lately when they had 'em. And Costco did the calcs right and I paid no sales tax as it's not taxable in my state. Also get the exec and credit card cash back so it's cheaper but not as cheap as the bars. Still haven't seen any physical silver at any of the Costcos I frequent.
My like, turned your counter to 1k even! I appreciate life's little victories for both of us!
Thanks Eric!
Here in North Texas, they told me to do the same exact thing about the silver. So I call 19 stores, 8 every other day.
Why aren’t you ordering from miles franklin or sd bullion? Or money metals exchange?
One other thing I'd like to say and know is, in Canada 🇨🇦 we are not allowed to but directly from the mint. Only licensed coin dealers can and that's where premiums kick in. Can my American cousins buy directly from the U.S mint or can you only buy mint products from licensed dealers?
I spoke with my contact at the corporate office. I was told they use the gold to entice customers into the new store. So all newly opened stores no matter how big or where they’re at, those are the store that stock gold intermittently. Good content.
Some Dealers still messing up. I'm from Florida too and cancelled a recent order during processing at Bold Precious Metals because even though I had over $500 in gold and silver they tried to tax me on the gold.
For all the haters , the last bar wasn't checked because of you guys. Keep up the good work, spectacular.Assured you enjoy your videos.😅
😆
Thanks for this video. I bought some silver coins online at Costco and remembering the 2000.00 no tax limit saved me 153.00 in tax when I bought one extra tube.
for anyone wondering, I cross referenced the serial numbers with another video. the bar he didn't scan here, for lulz, was scanned as pure before, and the one he skipped before is scanned here. Keep spamming at your leisure, but it checks out.
I just ordered a tube of 20 Silver Eagles today (May 13, 2024) from Costco online for $679.99 shipped to a no-tax State. The online order correctly calculated no tax and no shipping. The rate got me the 2% costco rebate back and was between $80 -$100 difference off of my normal 2 silver sites I order from.
I saw those! Without the cash back it was $33 each. Not bad!
@@Spegtacular I appreciate your videos. This one yielded me baiscally 3 free Silver Eagles !! Thumbs up !!!
Don’t listen to trolls most people are completely ignorant to the value of gold and silver
There’s no much value
@macbrazzle754 I own lots of metal, since 2007, but crypto is much better for growth and preservation. Definitely bitcoin. 80% crypto, 20% metals. Now is the time to buy. The next 6 months are going to make people a lot of money
Crypto is better
You have to spend over $500 before it's tax exempt? That's ridiculous. In Canada, all precious metal bullion is tax exempt, regardless of whether you're buying by the grain or the ton!
$2000 here in Ca.
@@ibberman I heard they may drop that tax in California. Have you heard anything about that?
@@ArAg-jj3gz Reducing the tax in Cali?? HaHAHA!!!!
I heard they tax raise bullion tax in California- it was 1500
Now 2000
Soon 3000.
You lose California
@@Shawn47 people in Canada buy precious metals by the ton? Lol 🤣
I Buy in PA no TAX on COINS & Bullion!
I bought a gold buffalo today from costco it was under spot with executive account and cc cash back I also got a roll of maples for 787 after rewards, well under other online stores especially their credit card pricing
I saw! They have gold eagles and silver eagles today too. Plus gold bars!
Buying at 50 cents silver spot, is one hell of a deal. Plus the cashback on your card. Thats like buying at spot.
I just checked on costco website and for my area (?) they have ASE roll for $679. I might pull the trigger. Delivery only. Just figured I would pass on info in case anyone has same deal.
I’ve been weary to buy silver in the last five months. I’m in the green on all My silver right now just over a kilo. But I can’t get myself to pay current prices.
Costco knows that loophole. Try checking the store once they sell it. They'll restock immediately.
I am in CA and the tax exempt threshold is $2000. It makes no sense to me why some people have to pay tax and others don't. Wait a minute.....it makes perfect sense. They cater to the more well off.
Where I live as well 😢
I write an email to my California State representative every week suggesting they repeal the sales tax on metals.
Imagine going to the bank with a $10 bill asking for a roll of quarters and getting taxed for the transaction. Nobody should be getting taxed on bullion
This is the way of the left. Even the movie industry expects to get brakes and they’re rich.
@@jeffnelson4489 and the Right essentially repeal corporate taxes for businesses and the wealthy. Maybe we need laws that is fair to everyone. Bet you think you really scored with Trump tax cuts and his trade tariffs?? Because lying Fox “news” told you..? They sure took a haircut for lying to viewers on behalf of the Right..
A sales tax is imposed on retail sales in California, but bullion product sales exceeding $1500 are exempt from the state sales tax. This includes bullion coins, bars, and rare coins, and covers both individuals and businesses. Bullion sales under $1500 are subject to state and local taxes, which vary from municipality to municipality.
For once I catch a tax break in Michigan......." These taxes must be collected on (1) copper products; (2) palladium products; (3) any bullion products made of gold, silver, or platinum if their purity is less than 900 parts per 1,000; "
I bought over $500 from apmex the other day and they tried to charge me tax on the 2 ASEs that got! I had to submit a claim, but they did finally refund it to me.
Dallas/Ft Worth TX area- I was just told by a membership customer service lady, that not all the stores carry gold and silver, or maybe just one or the other. So I am marking many off my list to call every other day, but I will get a hold of a store manager to verify this and let you all know.
Ugh. Just aggravates the hell out of me that Nevada (the Silver State - as our motto goes) has sales tax on silver/gold….no exceptions. Kind of ruins the desire to buy as it’s around 81/2 %.
I live in NV and have never paid tax on gold or silver bullion. Not at my lcs or when ordering on line. Tax is charged on numismatic coins and copper bullion in NV.
@@deniseclaeys8295 Sometimes some do and sometimes they don’t. Costcos eagles, maples and bars always have tax. Ebay always does. Pinehurst (online) does, Kzoo online doesn’t. I went to a coin store on Eastern today and they said they didn’t. It seems like the bigger online like Apmex do, and smaller privates don’t. I challenged Costco on their policy but they responded with NV law that said they had to..and when you want to buy a few tubes of Eagles at Costco that tax is brutal. Anyway, thanks. It just seems like it is a big hit or miss mess. And if you pay the 8.whatever tax here, then what you bought has to go up by that much just to back to even.
Drive to AZ and back
I wish my Costco in Sarasota would sell those silver 10 oz bars. They only sell one ounce gold rounds.
Where I live all Silver and Gold is Tax Exempt no matter how much or little you buy from 1 silver dime to 1000 silver dimes no tax at all.
Where do you live?
@@ibbermanPA, USA
Ya Right !
The manager took you aside 🤣🤣🤣🤣🤣😅😅🤣😭😭
There are no taxes in Nebraska on precious metals, thankfully.
On the phone with one of the Texas stores, a manager spent over 15 minutes talking to me. Very nice guy. It is true, only certain stores get either gold or silver, this store only gets gold bars, he has been there for 3 years. He did say -all is determined by corporate, he will get an email saying in one hour or so, your store will be receiving this gold bar delivery, normally in a quantity of 16. And of course, the limit is 5 per purchase. But not all stores get precious metals and something from corporate is driving the type and quantity to each store. I am wondering if I can contact corporate somehow and ask if I could have a certain amount sent to the store closest to me? And I have never seen 5 or 10oz silver bars online. have you?
Speg old friend. I have missed you a bunch with the Tubes notices. Good to see you bud. I love the no tax on bullion that is in place here. Kind of like Nervana eh, LOL.
I live in California and I bought 50 Canada 1.5 oz silver rounds from Apmex @ spot price $28.20 "spring sale" over $2,000 purchase NO TAX in CA.
Lol I love to see you troll the trolls! 😅😂 they couldn't wait to start typing.
😆
You did it again. You missed 1 bar to test. Multitasking is hard.
😂HE DID😂
He's doing it on purpose ;)
Yep, to get us idiots to comment more so he can get more traffic. Everyone wants as many subscribers and traffic. I'm guilty of being one of those idiots. We all need a life. Buy silver, exercise civil disobedience, refuse to pay taxes, take all currency out of banks, and don't fuel the beast.
@@DJSolistica now he just needs to figure out how to get it to NOT verify 😮 then what the heck content 😊
I laughed when he purposely set that one aside 😂😂😂
Define trolling 😊
😆
I went n got 5 in CT where its tax free over $1000, went smooth but def gotta buy them first when you go in and go right to the managers desk with the slip.
Yes! They sell quick!
I'm sure it's a nightmare to program all of the tax laws for each state and product into the POS software. Even online Bullion dealers, much less Cosco.
we do not seem to have these bars at our Costco in Greensboro North Carolina.
It’s hit or miss here. We’ve only found them at the one.
I was at Gulf to Bay Costco today. No bars. I really had my hopes up but it wasn't meant to be today.
Keep checking back 😊
You can go to your local coin shop and get great prices. Plus it's better to support smaller businesses. Be careful with buying silver and gold in heavy weights because you might have a hard time selling it at the local coin shop because that's about the only place you will be able to sell your metals when you need to. You bring a several hundred Oz bars into your local coin shop and they'll know exactly what kind of a Costco Shopper you are and they'll beat you down on price
@@amr8457 or if you have the heavier weight metals you can reach out to online dealers to sell to 🤔
I went through the Costco/tax fiasco in Nevada. It was more expensive than ordering through the usual on-line vendors even with the higher premium.
Virginia also had a tax on bullion purchases by people who were not rich (no tax for purchases > $1000) but did the right thing and removed that regressive tax.
Yeah I'd check your state laws for JM Bullion because they are charging taxes for Nebraska. Nebraska Revised Statute 77-2704.66 states "(1) Sales and use taxes shall not be imposed on the gross receipts from the sale, lease, or rental of and the storage, use, or other consumption in this state of currency or bullion."
My state does not charge sales tax on anything Montana’s great that way
I've been going to the Costco website for months now to check for bars and coins and nothing ever populates following a search. Same for visiting my local Costco-nothing is ever in the jewelry case. I'm guessing I'll need to ask the local Costco store manager if they ever order bars or coins. On their website what search terms are you using?
Here in Canada 🇨🇦 we don't have to pay tax on silver maples ot other RCM silver like bars. However, if you buy scrap Canadian or American silver then we have to pay tax.
Thanks for the info! How are you getting 5% cash back, versus 4% (2% Executive + 2% Citi card)?
Never heard of 5% either.
2% from Costco, 3% from his credit card.
@@mrsspegtacular6484 Thanks! Which credit card gives you 3% at Costco? I need to sign up for that one myself!
thank you Speg.
Thanks for watching, Jeni 😊
Thank you for saying that. I used to say that in school growing up
look at America 🇺🇸 today. I enjoy
watching your program.
Where did you get that Precious Metal Verifier device? I am just getting into stacking and if that device can reliably detect real precious metals from forgeries then it seems like it would be a good investment.
It's rather expensive and not completely foolproof (nothing is) but very good. It uses high frequency induction which induces eddy currents in the metal. Silver is probably the most conductive metal in existence. So a combination of size, weight (density) and conductivity pretty well establishes what it is. For silver coins and rounds, a simple "ping" test works pretty well. Silver makes a distinctive sound so you ping it and a cellphone "app" displays the frequencies heard.
14:34 lol that's too funny. Skipped the last one
Nice! lol
😆
When he skipped that last bar, I laughed... Perfect troll move! Love it 😂
As a Maine resident, stacking is now a challenge. Finding sales are always a good idea, but a necessity when you have 5.5% tax to cover. Really time to move I think.
I was reading a 5 bar max in California on the website meaning i always would have to pay tax. The governor in California is greedy in fact he also charges about 2.00 a gallon tax for gas.
Damn! You can literally walk into a Costco in Fl pick a bar off the shelf and purchase it at the checkout? I am a member on Long Island NY and they don’t have them here. I need to move. My state sucks.
New subscriber - love your Costco silver videos! Appreciate the info on state tax - seems Virginia requires $1000 or more to avoid sales tax. Will check if my local Costco has them in stock. And like others have said - ignore the trolls! 🙂
Welcome to the channel 😊 the trolls can have fun, they don’t realize they’re helping bring attention to the video 😆
In Canada you don’t pay tax on pure gold/silver aka money.
This is because you're buying a product made out of silver you're not buying or exchanging currency for currency this is why I tell people you need to buy silver eagles or Gold Eagles additionally if you go to sell that bar and it appreciates and value the person who buys it say a pawn shop or some other entity has to report the purchase and who you are to the IRS that means you've got capital gains to pay if you are using Gold Eagles or silver eagles is just an exchange of currency if that Gold Eagle went from 2,200 to $5,000 the buyer has no obligation to report anything to the irs because they are just exchanging currency for currency
😢 Anybody knows 🎉why Apmex via Walmart online charges tax on gold and silver even though the state that I live has no sales tax on gold and silver purchased by residence (in-person and shipping address in state and into the state- no tax)?
I just got a delivery from WMT on Saturday, May 11, 24. They charged tax from the WMT app. The invoice from APMEX didn’t have tax on it. The rep on the phone gave me a credit for $15 and took the tax off and put it back to the credit card for a $660.00 purchase in Colorado.
What CC did you use for your 5% cash back??
Alamo heights coin shop has 2024 eagles. San Antonio
I wish my Costco stocked these bars. It's pretty awesome that you can get them, though!
I was told Thursday and Fridays they get more silver here in Idaho
So around pay day is when they stock it?
Sounds like they are charging sales tax to unknowing customers.
I live in Kentucky. And JM Bullion has to collect taxes on ALL purchases from them.
Im in KY too. August 1st kentucky will be tax exempt on bullion finally.
@@silverfox3061 OH THAT IS GREAT NEWS, THANK YOU
@@silverfox3061 thank you Silverfox
I tried to explain to the cashier there was no sales tax, then I had to explain it to the clerk at the pickup counter, she’d never heard of it either, she then went and ask the manager, problem solved.
Atleast more and more people are being educated!
At my Costco in Az he told me that when they get them they sell out immediately
Same at my Costco. It's not worth fighting over the limited supply.
They call family and friends first...😅
I am mostly by a local coin shows in California as I get the tax break for over $2000 purchases every time.
makes you wonder how much costco has taken in on taxes they should not have collected on this silver as a lot of people might not catch the error. also i unfortunatelly cant do silver at costco, unless they also have gold. im in california and our tax exempt amount is over 2000
Yep, we can't meet the minimum for tax free, with the 5 pieces limit.
I just bought my first one Saturday! No tax in Colorado yea!
Nice!
Last bar with serial numbers ending in 7937 wasn't tested.
😂😂😂
14:33
@@fauxque5057 Right. With the last one he just picked it up and put it right on the stack. I never went on to the tester.
No Kidding, Wow Think that drives Views? Wow Super Observation Capabilities!
That was the fake one :)
Arkansas doesn't charge taxes on gold or silver.
My local Costco had no silver or gold in the jewelry department sadly
Keep checking back 😊
California you have to buy over 2K to be exempt from tax.
I've called my Costco's here in the PNW and they do not have these bars. How do you find them?
Combine Costco location differences, Sales Tax differences county to county, and no delivery options and it just gives me a headache. To my knowledge, none of the FIVE Costco stores near me has EVER had a gold bar available. When you go online, in California you pay sales tax on bullion purchases UNDER $2000, silver is limited to 2 items so you never reach the threshold. Sales tax varies according to which store you take possession of the bar. There is NO delivery option- the purchaser member must personally go to the store with photo ID, costco card, and credit card used for the purchase in order to pick up. That's the policy here, but as mentioned, there are no bars available. I thought of asking my brother in a different state to buy for me, but at his age that would just be cruel. They were selling tubes of silver eagles, but same story- no availability and sales tax added.
First off Thanks for posting this video!
Personally I would have bought the 10 0z bar, thinking that if silver hits triple digits this summer, I would have made a good investment regardless of the sale tax.
Thankfully where I live there is none, only on Constitutional silver and collectables. Cheers!
Thanks for watching!
Well this comment aged well. Triple digits?! Silver won't even be hitting half that ($50), by next summer... You didn't actually anticipate triple digits did you?
@@BoDiddlydodah "THINKING that "IF" silver hits triple digits this summer..."
This is what I posted, I stated NOTHING about it hitting triple digits by this Summer... you need to work on your reading comprehension.
Yes, I believe it will hit Triple digits before too long, with the amount of digitized and printed FIAT why shouldn't it?
They charged sales tax on Ebay and Wisconsin repealed tax, how do you get that money back?
SD Bullion does not charge tax when shipping to Ohio.
Can we buy for a friend, if we visit another state’s Costco?
Am I correct in assuming that if the bars were not legit then your headline would scream Costco sold me fake bars?
Dang it you guys I promise you Costco will not sell fake items
I’ve tried three stores in the Chicagoland area with negative results
Call and ask if they get them in. Some do and some don’t.
Interestingly, in the state of Nevada, I have NEVER paid sales taxes on anything (rounds, bars, sovereigns) so I don't think this is turned on completely or the definition is up for liberal interpretation.
I bet they would have had the 5 if they rang them up with the tax. Once you have them in front of you then you talk about the tax. Might be worth testing next time.
does California Costco not carry them? I've been to 3 they all say same thing they have never heard of silver being sold other than jewlery.
Give them a call and see if they get them in. Some don’t.
Haven't seen any silver at my Austin TX Costco. But any amount of bullion would be tax free here.
I don't recall being charged sales tax from JM Bullion, APMEX, or GoldSilver but this was years ago
ignore idiotic comments. Come on man. It's Costco. Why are there so many haters? Anger I guess. I bet most of them are in front of me in line on the weekends.
They’re bored lol
I wonder who bought all the bars🤔🤐
There is no tax in Arizona on silver and gold
you did forget the last
Same Bar in Cypress CA costco is $439.99.