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My Plans to purchase $50 gold coins

michael59

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#1
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.
 

Joe King

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#2
4th question: Do I just tell him/ his lawyer to hand me gold? yeah this one is just a thought, bad one at that.
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.
 

GOLDBRIX

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#3
4th question: Do I just tell him/ his lawyer to hand me gold? yeah this one is just a thought, bad one at that

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.
 

michael59

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#5
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.
 

goldielox1

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#6
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.
 

Uglytruth

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#7
4th question: Do I just tell him/ his lawyer to hand me gold? yeah this one is just a thought, bad one at that.
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

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#8
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.