Silver Bar at Costco! Manager takes me aside and gives me insider information!
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- เผยแพร่เมื่อ 30 พ.ค. 2024
- www.jmbullion.com/tax/
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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.
but silver isnt money its a metal
It’s still a currency
@@idunnoanymore2870 well only US treasury minted coins but the value listed on them is way less than the value of the metal used
I Buy in PA no TAX on COINS & Bullion!
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?
Imagine going to the bank with a $10 bill asking for a roll of quarters and they tax part of that $10. No reason they should be charging you tax at all
This is EXACTLY how I put it. Except I use the denomination of four quarters for a dollar.
But they charge you tax, and give you 90 cents instead.
A dollar is a dollar. Makes zero sense.
@@blackpearl9504 because people are dumb enough to not challenge it. When people are distracted it's a lot easier to do crime. So when everybody was distracted on Christmas Eve 1913 they were able to formulate and start the Federal Reserve and within a year put something into the Constitution that demands I pay taxes every time I get a paycheck. It's criminal what they do but nobody did anything about it and right now they have such a stronghold on everything that it's basically a giant waste of time and money to even fight these people over the illegal crap they do. At some point people will likely revolt, or, they will be enslaved but either way folks are going to starve and that sucks ass
that might be a reality one day :) lol
@@cutlerylover oh you shush that mouth right meow 😭😭
@@drip369 I hope we are all dead before a digital dollar becomes a real thing but when it does they will have to make it really hard to live life without using it...If humans last long enough without killing each other clad coins will be collectible one day lol...someone going to be trying to explain to their grandkids we had to physically hand money to another person to buy stuff and sometimes they had to physically give us back change and the kids will laugh at the idea...
I live in Canada…bought a few oz from Costco, delivered to my door no problem., as I can’t purchase at warehouse directly here in the province I reside in. When looking at prices in USA at Costco , there is a significant discount to what we are paying even with the currency exchange…about 30$ 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
My like, turned your counter to 1k even! I appreciate life's little victories for both of us!
Thanks Eric!
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 😊
Lol I love to see you troll the trolls! 😅😂 they couldn't wait to start typing.
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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!
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.😅
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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.
Costco knows that loophole. Try checking the store once they sell it. They'll restock immediately.
Buying at 50 cents silver spot, is one hell of a deal. Plus the cashback on your card. Thats like buying at spot.
I was chanting to the tv, don’t check them all, don’t check them all, and you didn’t, great job , I did laugh some😂😂😂
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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
In Canada it has to be 99.5 percent pure or better. So no eagles, sovereigns, roosters, centanarios, etc etc. all you Americans would do well to remember that fact. If the need should ever arise you need to bug out to Canada, your gold eagles will be worth less to sell than maples or buffalos because shops will need to charge 13% hst on them.
thank you Speg.
Thanks for watching, Jeni 😊
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 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 !!!
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.
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?
Nice!
!(: And that stack too, WOW ;)!
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.
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 😊
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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 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.
Ya Right !
The manager took you aside 🤣🤣🤣🤣🤣😅😅🤣😭😭
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.
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
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 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.
14:34 lol that's too funny. Skipped the last one
Nice! lol
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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!
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.
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.
Thanks for the informative episode
Thanks for watching!
I wish my Costco stocked these bars. It's pretty awesome that you can get them, though!
Thank you for sharing.
Thank you for watching!
There are no taxes in Nebraska on precious metals, thankfully.
I wish my Costco in Sarasota would sell those silver 10 oz bars. They only sell one ounce gold rounds.
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; "
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.
you did forget the last
Dang it you guys I promise you Costco will not sell fake items
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 :)
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 😆
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!
Well raw foods are tax exempt whereas prepared ones are subject to tax. They need an algorithm in there just to sort the whole tax thing out for them. Can’t imagine it’s hard. 😮
I am mostly by a local coin shows in California as I get the tax break for over $2000 purchases every time.
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.
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..
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.
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!
Don’t listen to trolls most people are completely ignorant to the value of gold and silver
There’s no much value
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'm new to your channel and love it. Thanks
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!
I know I mentioned the bar in last vid. I don't think any are fake really just if you're checking them wanted you to see where you missed it. They're nice bars. Keep stacking!
They are nice looking bars. 👌
Alamo heights coin shop has 2024 eagles. San Antonio
My state does not charge sales tax on anything Montana’s great that way
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.
Bro if Costco ever gets ahold of Libertads …..
I’ve been saying this
What do you mean
@@201950201950 all mine. None for you. All for meeeeeeeee
Libtards? 😂😂😂
@@201950201950 talking about Costco selling Mexican silver Libertad’s
😢 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.
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 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
Nice looking bars those 👍
I just bought my first one Saturday! No tax in Colorado yea!
Nice!
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
Same Bar in Cypress CA costco is $439.99.
🤜💥🤛Speg, that phoenix is really nice, I bet it was crazy expensive. 👍
Yeah they’re not cheap but it’s a shelf piece that I can look at once in a while.
I was told Thursday and Fridays they get more silver here in Idaho
So around pay day is when they stock it?
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?
Arkansas doesn't charge taxes on gold or silver.
I only watched the video because I heard that this guy forgot to test the last bar.
14:29
See?
He didn't test it.
WOOO 🥳
How's this for wacky. Instead of getting jerked around by Costco go to a local coin dealer and support your local community businessman.
Agreed. Costco is a headache. Dealing with a bunch of minimum wage teens not knowing what they are doing
The Costco cult. People go to Costco religiously and only buy there because it makes them feel special going to a store other's can't get into if they're not members and don't carry exclusive membership card.
@@vincentcaruso3360strictly opinion
@@vincentcaruso3360every employee at our Costco is middle aged or older…
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.
i got it . that is funny. good for you.
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Informative
God love ya! You skipped the last one!
Interesting!!
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.
Got my 5 bars, first to get them at my store. I know the department manager
Hopefully this video helped you through the process!
@@Spegtacular actually I’ve been stacking for years, I was just not aware Costco sold metal. I saw the previous video 2 days before they showed up at my store.
Awesome, so it helped you to learn then. That's what I'm here for!
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.
Nah, not really. In a program with many thousands of lines of code, Individual state tax law handling could be accomplished with relative ease. At least to a programmer. Their brains are wired to deal with this type of logic.
MIssed that last one again....
Oops
My local Costco had no silver or gold in the jewelry department sadly
Keep checking back 😊
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.
in costco canada, the PM's are only sold online
They sell in store too.
In Canada you don’t pay tax on pure gold/silver aka money.
Haven't seen any silver at my Austin TX Costco. But any amount of bullion would be tax free here.
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.
Went to my local Costco (Warrenton Oregon) and no silver bars. However they did have 1 oz Gold bars. As of Thursday May 9th.
What was the price of the gold bars?
@@Spegtacular on that day it was $2369.
Great price
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!
In Massachusetts, over $1000 is tax free.
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.
There is no tax in Arizona on silver and gold
I don't recall being charged sales tax from JM Bullion, APMEX, or GoldSilver but this was years ago
Where do you cash in your silver and gold bullion?
In Commiefornia it’s $2000!!!!!