1. Same story, different day...........year ie more of the same fiat floods the world
    Dismiss Notice
  2. There are no markets
    Dismiss Notice
  3. Week of 6/24/2017 Closing prices & Chg Over Last Wk---- Gold $1256.40 Silver $16.64 Oil $43.01 USD $96.94
  4. "Spreading the ideas of freedom loving people on matters regarding high finance, politics, constructionist Constitution, and mental masturbation of all types"
    Dismiss Notice

My Plans to purchase $50 gold coins

Discussion in 'Purchasing Precious Metals' started by michael59, Jul 21, 2017.



  1. michael59

    michael59 heads up-butts down Site Supporter ++ Platinum Bling

    Joined:
    Apr 1, 2014
    Messages:
    6,481
    Likes Received:
    2,942
    Trophy Points:
    113
    Gender:
    Male
    Occupation:
    20 years logging
    Location:
    on the low side of corporate Oregon
    It would seem I received a call Wednesday of this week that someone I have a judgement against has capitulated and is going to pay. BOLI of Oregon called and asked me if I would accept an offer of $5,000. I thought it over and said $5,005.55 would suffice. The actual amount owed with penalties and fines is $12,something. Why am I lowballing it? Bird in the hand is worth two in the bush and all I ever wanted was my wages. Then there is the fact that if I wait for to attach his estate then I am in a feeding frenzy with other creditors. Plus as he has tendered an offer it means if he does not pay on the judgment I can slam his ass on contempt because he by himself has started a new time running. But anyway to the relevant question at hand.

    I intend to purchase $50 gold coins and a $10 coin so I can be a site supporter. Shit I know I have chewed up enough band with here so I need to pay at least $10 down on it.
    Second question: I intend to purchase at some unknown local coin dealer and not through the mail. Do I expect to pay 8% over spot or is it 3%?
    third question: Do I debit or cash? I hate cards but this check will have to go somewhere as I am not a client of the modern ways. yeah even me hits a bump once and a while.
    4th question: Do I just tell him/ his lawyer to hand me gold? yeah this one is just a thought, bad one at that.

    So there it is, I just need a little input. Oh and when I ship that $10 piece do I send it to the address I received from you blue tonged bear?

    edited to say: I have to get my butt moving so I will not be here to answer any questions till about 3pm eastern Pacific time....that's the west coast for those scratching their heads.
     
  2. Joe King

    Joe King Gold Member Gold Chaser

    Joined:
    Mar 31, 2010
    Messages:
    4,483
    Likes Received:
    4,241
    Trophy Points:
    113
    Location:
    Instant Gratification Land
    Why not just ask 'em to pay in cash? Tell 'em you have no way to cash a check and will not settle for one.
    ...or tell 'em $6k if settling by check, $5k if by cash. To save a thousand dollars, most people would willingly make a bank run to get the cash for ya.
     
    michael59 and GOLDBRIX like this.
  3. GOLDBRIX

    GOLDBRIX God,Donald Trump,most in GIM2 I Trust. OTHERS-meh Site Supporter Platinum Bling

    Joined:
    Apr 4, 2010
    Messages:
    5,488
    Likes Received:
    5,206
    Trophy Points:
    113
    Gender:
    Male

    AGREE w/ "bad one at that". Because you will have at least THREE people who do not need to know know that you have physical gold, The Client, The Lawyer, and his secretary.
    Lawyers can be shady and most of their clientele are shady.
     
    Uglytruth and michael59 like this.
  4. lumpOgold

    lumpOgold Gold Member Gold Chaser Site Supporter

    Joined:
    Apr 12, 2010
    Messages:
    810
    Likes Received:
    585
    Trophy Points:
    93
    Location:
    Silicon Valley
    My LCS is pretty decent, https://www.pacificpreciousmetals.com/, and only has about a 4% premium on most 1oz gold and a 16% premium on SAE's. I usually go with them for buying and selling EXCEPT when I have an 8% eBay bucks special.
     
    michael59 likes this.
  5. michael59

    michael59 heads up-butts down Site Supporter ++ Platinum Bling

    Joined:
    Apr 1, 2014
    Messages:
    6,481
    Likes Received:
    2,942
    Trophy Points:
    113
    Gender:
    Male
    Occupation:
    20 years logging
    Location:
    on the low side of corporate Oregon
    amount has been settled through a phone call already so 6K is a bit out of the realm of possibility. Though if his lawyer dumps on me I will have his ass in court on contempt, him and his lawyer because they reset the tolling statute by having some reputable bureaucrat contact me saying they want to deal. If I don't receive the paper in tomorrows mail then Monday I am calling said state worker and find out what is going on. All they have to do is stall and I am going for contempt and full amount because the guy that owes me cannot take jail time so he will have to pay and he will pay all of it.

    And, PPM sure has some shiny stuff there lump but I am looking for US minted stuff with a $amount on it, and it don't have to be shiny.
     
  6. goldielox1

    goldielox1 Silver Miner Seeker

    Joined:
    Jun 20, 2013
    Messages:
    772
    Likes Received:
    550
    Trophy Points:
    93
    I don't get why you *need* cash payment. Are you worried it will bounce? Just deposit it and a week later you can withdraw the cash.
     
  7. Uglytruth

    Uglytruth Gold Member Gold Chaser

    Joined:
    Apr 6, 2011
    Messages:
    3,980
    Likes Received:
    4,819
    Trophy Points:
    113
    And argue about the spot price & premium paid? Should have settled for 5 1/4 oz or whatever if that is what you really wanted but agree with Goldbrix above as their is now a record of it.......... I can already hear the stories being told at the club.....
     
    michael59 and GOLDBRIX like this.
  8. michael59

    michael59 heads up-butts down Site Supporter ++ Platinum Bling

    Joined:
    Apr 1, 2014
    Messages:
    6,481
    Likes Received:
    2,942
    Trophy Points:
    113
    Gender:
    Male
    Occupation:
    20 years logging
    Location:
    on the low side of corporate Oregon
    This guy is zeroing out his debt. He has settled with the IRS at 35% and he has lots of people that he owes. My saving bit is that I filed on him and got the judgment against 498 hours of work not paid for, which was five years ago so his lawyer is doing all this for him.

    I am not apposed to cash or check as it is coming through a lawyer there goldielox1. My thing is? Seeing that you don't know...umm....I'll put it this way. I am not a client of the STATE. This means I do not carry their ID, ODL, SSN, none of that stuff and I do not have a Bank Account. Oh it is a long story that has been going on for years, but that is the way it is.

    And, Uglytruth: I just called one of the coin dealers in Salem and he said the price of a US minted $50 is 1,301 @ 1255.40 spot so I pay $45 per coin. But he is out but will order....so I am waiting on the mail.
     
    Uglytruth likes this.

Share This Page