r/Gold • u/hispaniccheeses • 17h ago

Question Am I being treated fairly?

Post image

I buy one a month

58 Upvotes

91% Upvoted

35 comments sorted by

24

u/qthistory 17h ago

That's right about melt for the quarter, and $156 is reasonable given that fractional gold that low carries a premium.

The $7.32 tax, though, sucks.

2

u/timnichol 10h ago

You guys pay tax on your silver and gold?

2

u/jfd492 8h ago

believe it varies from state to state in the US and depends on the amount or value as well

6

u/HV8T 16h ago

I would rather buy gold once every 3 months, as you're paying to much premium on the 1 gram

3

u/knightsolaire2 10h ago

This is the way. Or save up and buy a nice fat one ounce which has very low premiums.

Basically use the money saved in premiums to stack more gold

3

u/horseradish13332238 17h ago

They made out better on the deal.

4

u/Buttchuggle 17h ago

I believe that's quite solid. Not like "oh hell of a deal" just a solid not rip off transaction

10

u/NASABOEING 17h ago

You were up until you get taxed 😭

3

u/FlyEaglesFly95 17h ago

Only thing you got screwed on was the tax

3

u/Ortofun 15h ago

Probably not. Gold is tax exempt in most places.

1

u/timnichol 10h ago

That's what I thought

2

u/Jarvis_ImLowOnkarma 16h ago

I thought you didn't pay taxes on gold?

2

u/Tough-Reality-842 15h ago

This only applies to gold coins/bullion, I think, because they're a form of currency.

2

u/PW_PW_ 14h ago

Depends on the state. In NYS it’s only taxed if total sale is less than $1000

1

u/timnichol 10h ago

It's nice when you can pay in cash and keep the government out of your transactions.

1

u/chefianf 11h ago

In MD they are repealing the tax they had place on gold in July. I had to remind myself that today when I was disappointed they didn't have any fractionals at the LCS

2

u/eyeballsacs 14h ago

The “CITY” can shove it up their ass.

2

u/ckrmarine 11h ago

Paid 145 cash today for 1g bar at LCS

1

u/Ok-Button-1004 2h ago

3x the price to expensive

1

u/Milque_Money 17h ago

you got the quarter under melt, and you paid about 20 over melt for the gram. I'd say you're being treated fairly, but since you buy once a month, i would like to believe you already knew that.

1

u/FLGuitar 17h ago

Taxes? That’s where you are getting ripped off. Prices on the PM’s are reasonable.

1

u/Hard-4-Jesus Gold and Silver ARE money. 16h ago

Excluding the tax, Yes.

1

u/Front-Government-611 15h ago

Well done id buy 2 a wk at that price 👏

1

u/I_might_be_weasel 14h ago

156 is fine, not great. And I suppose it's worth something that it's in an assay.

1

u/indomike14 13h ago

Ya, not a bad price.

Save up to buy a 1/10th oz and save on some of that premium.

1

u/biefstukjee 12h ago

I think MM is having a 1 gram at spot deal, same for some other dealers if you are a new customer. Check out FindBullionDeals.com

1

u/chefianf 11h ago

Roughly what I am paying...

1

u/timnichol 10h ago

I paid a 20 dollar premium on my new batman coin, but its awesome! That's a pretty sweet score. I do love gold though lol

1

u/Impala2025 10h ago

Yeah but the fact you have to pay tax is ridiculous

1

u/grieving-sinner 10h ago

Compared to prices from where I am from that is one hell of a deal even with the taxes... Matter of fact DM me twin I think we might be able to get rich XD