So far, I only buy from dealers. Haven't sold anything in years. I go to the one closest to me, ie an hour away. In big cities, you might find 5 or 10. Look in the phone book. Google works, too.
If it is a gold or silver Eagle, they just take it. They don't care if you stole it, even. Unless it was a rarity, in which case they would know it is stolen. This is for just bullion. If you have numismatic coins, they will have to grade them, and such. May even send them out, if they are rare enuf. Buy, if you just sell for the metal alone, take them in and sell them. Doesn't matter much what country is stamped on it, altho K Rands are cheaper.
Dealers are only required to report transactions over $10K.
I pay cash, buy 1K at a time, because that avoids sales tax. Buying in person saves S&H charges.
There is mark-up on all this stuff. Dealers have to buy from middlemen. The mint will only sell to specified brokers, who in turn send it out to the dealers. Small mark-up over spot each step; dealer pays slightly less than spot, I believe, when you sell them.
Now, if you took it all and melted it (against da law, but..), and took it to the UST, they would give you spot, if they are buying. Lowest premiums are on rounds and bars put out by the producers. I haven't bought any yet.
(Also worked for a dealer once; coin comes in, check goes out. Check comes in, coin goes out.Only records were receipts for taxes,. insurance. I guess the feds could have come in and grabbed them, tho. Oh, well, like I say, when I buy, I go by
Johnny Cash |
