I returned to Costco for Silver Bars and THIS happened!

[@KyleWidmyer]

Silver bullion should not have a tax. It is Federal law, it is considered curreny and therefore an exchange of money and not a purchase.

[@cephasmartin8593]

States can charge tax. Most don't, but there are some who do.

[@KyleWidmyer]

@cephasmartin8593 sorry but no they cant. Do they? I guess but legally silver and gold are money. Not a taxable assist. That like taxing someone for breaking a $100.

[@whosdickhertz2149]

States can … and a few DO tax BULLION. I know Nevada taxes, can’t remember the others. My beloved “adopted home state” of Texas does not tax us.

[@computerlearingchannel4257]

Potential lawsuit?

[@inhumanfilth681]

@@KyleWidmyer its even worse when you realize its only a tax on the lower class. Most of us can only buy an oz or three a week or a ten oz bar here and there if we are lucky and that still gets taxed meanwhile the elites can trade willy nilly tax free

[@dingotopruc9642]

I bought silver bars and rounds from Costco in Canada. Paid on their website with my credit card, free two day delivery. They offer gold one oz bars and coins, all from the Canadian mint. No purchase tax.

[@TechieTard]

You had me at no purchase tax!

[@Thanos88888]

@@TechieTard in Canada, all bullion is tax free because it's considered cash.

[@martymiller9802]

Does SAM’s Club have these?

[@Bibidybobidy]

Hey, thanks for heads up. I was wondering if Canadian Costco's had them. Great!

[@gallardo360]

my grandfather owns a pawn shop. he has over 300lbs of scrap gold and more in silver scrap in 5gl buckets

[@danmichans]

Texas does not tax the sale of silver bullion, as well as other precious metals like gold and platinum, beginning October 1, 2013. This includes bullion coins, bars, and rounds, as well as rare numismatic coins.

[@tutnetam]

Thanks bro! This info I was looking for 🙏🙏🙏❤️🇷🇺❤️ love from Dallas!

[@frankventrella8558]

NY recently started taxing all metals, coins, old currency. But bullion over an ounce is tax exempt. But you have to ask the dealer eg apmex, ebay for a reimbursement. I am going to start next week.

[@vincea2996]

@@frankventrella8558 ny lmao, that state has become the joke of America right next to California

[@sunso1991]

Maryland charge 6% on metal it ps me the f off so much

[@tktimber418]

@@sunso1991 go to Pennsylvania or West Virginia or Virginia. Maryland is close to all those states.

[@01dumbfrog]

In the US 1985-1986 tax code the buy, sell, or trade of US gold and silver bullion is a tax free event. In 2010 I made $40,000.00 dollars in silver trading and instead of taking a check for the profit I made a purchase of 20 US gold buffaloes and had them shipped to me. Then in 2014 I was audited by the IRS for my 2010 taxes I showed them the receipts for the wire transfers to and from the brokerage account and then I showed them the receipt for the gold purchase and recited the 1985-1986 tax code on the books and asked them if they had changed the law? After some time they said Mr. B--- we are so sorry we wasted your time you will never hear from us again… I really wanted that in writing but I was too happy to have read the tax code in my own time years before.

[@foodini666]

Wisconsin just waived all tax on silver/gold no lower limit as of march this year. Its nice.

[@rudypoo4370]

Illinois has no tax on bullion, Wisconsin has to "compete" for those crossing the boarder to buy in Illinois.

[@0004612]

Now Minnesota needs to fix this issue. They tax anything considered legal tender. No tax on bullion bars or rounds.

[@dronetestdaegan]

@@rudypoo4370 border*. NOT boarder. a boarder is one who boards people.

[@rudypoo4370]

@@dronetestdaegan right. 😉 Miners, not minors

[@funnyfarm5555]

@@dronetestdaegan Last time I checked KZbin was not a spelling class. Sometimes autocorrect on some cell phones changes the spelling when a person presses send and they never get to see what changed.

[@erikgrimes3621]

our costco was sellimg pamp gold bars for 2369.00 saturday and spot was 2302.00. if you had an executive membership and the costco visa the 4% cash back would have brought the price down to 2275.00. not a bad deal at all.edit to correct math

[@josephpadula2283]

How is 2975 a good deal ?

[@magicman9321]

i was thinking the same lol

[@cutlerylover]

you might have a typo with that final number haha

[@erikgrimes3621]

@@josephpadula2283 i messed up the math 2275.00 after discount

[@erikgrimes3621]

@@magicman9321 corrected the typo

[@ralphwiggum3134]

My best silver deal was when I was a teenager in the 80s. I was at a flea market and bought a small box of US and foreign coins and it included two 1oz bars of silver. I bought the box for $5. A few years ago, I bought the same metal verifier in this vid and both bars of silver are legit. I now have nostalgia for them and they would be among the last I would sell. I don't know what the other coins are worth today, but the 2 silver bars alone are now worth about $60. I'd say that's probably the best $5 I spent in my teenage years. I have nothing else to show for any of the other money I spent back then.

[@freesk8]

Washington State also has no sales tax on gold and silver. "Gross income from sales of precious metal bullion (gold bars, processed nuggets, etc.) and monetized bullion (coins, etc.) is generally exempt from tax. An exemption applies even if the bullion is sold for more than face value." WA State Dept of Revenue.

[@edb3877]

Agreed. I've bought gold and silver for over a decade now and none of those buys, both local and online, were ever taxed. Anything made from gold or silver can be taxed, such as silverware, a silver coffee or tea service, or jewelry.

[@CWO3-uscg]

I’m a silver stacker myself, and like you I live in Florida. I was aware of the no sales tax law. I was however not aware that Costco sold bullion. I will be checking my local store. Or stores. I have 4 within 20 minutes of me. Thanks again and I subscribed to the channel because of it.

[@mrsspegtacular6484]

Welcome to the channel! Hope you find some!

[@dd3651]

I started to buy silver when I was 18. At $22 to $25 an oz. So far I've been really happy with my investment. I do wish I had continued to purchase. Money has just been tight. Hoping to buy some gold this year. Always enjoy the videos.

[@UKDark_Mark]

$289 with 5% cash back? That is definitely a bargain…… I love the thought of cash back on bullion 👍

[@dentontxflatearthguy2903]

Right? with him catching the tax issue, it means he saved $174.00 on the 5 bars. Not bad at all.

[@terosma]

I believe it is 4% cash back in total, 2% from Executive Member and 2% from Costco Citi credit card, unless using some other visa with better cash back

[@abraham3981]

Too bad I cannot do that in California without the Taxes negating the cashback

[@bigbaddms]

@@abraham3981there’s no tax in CA if you spend more than $2000

[@onetruepatriot6718]

APMEX Bullion card, gives you cash back for buying bullion.

[@iamwesterncanadian570]

Buillon is tax free in Canada regardless of how much you buy. I buy 25 Maple Leafs coins in a tube on costco's web site.

[@iamwesterncanadian570]

@dingotopruc9642 There is mentally ill people that do go to costco for soup.

[@TexasScout]

I understand the value of silver and gold, and that it stays steady when other things don’t specially fiat currency however, I can’t comprehend exactly how you would use it in a grid down or end of the world situation, you might comment on that help me out there. I numismatic silver and gold because people recognize that it’s actually money. They may not recognize the value at first, but at least they recognize that it’s money.

[@twill9278]

@TexasScout Precious metals are a "store of value" If the chit hits the fan, you would exchange it with someone who offers you things you need or want. Relative value would likely be informal

[@TexasScout]

@@twill9278 Understood, however, the "average joe" doesn't recognize a gold bar as "money". Yes, he knows it's worth something, but what? Coinage is different.

[@hardattackdj]

As a Costco employee, there is another way to void the tax on the item. It’s not complicated, but doing the transaction on its own is easier to see everything going on. Also, the 5 limit is per visit. It’s to allow other members the opportunity to purchase them

[@foamfan7593]

Teach us

[@DrAlmurshidy]

Not true. I was told over the phone (and at the store), you place your order and you submit a request for tax department and they issue you a refund, just to end up having that request declined.

[@hardattackdj]

@@DrAlmurshidy What state are you in? We don't have a tax department for members, it's not a thing at any store anywhere. Buying silver or gold online automatically recognizes your state and takes care of removing tax where it is necessary. I bought a gold bar like this, I live in CT and I was not charged tax. Buying in the store needs to be done as a separate transaction and the tax voided at the register. If your state has a tax exemption for gold and silver, this is how it works. My warehouse has been doing this all year long.

[@jawaskiconner8695]

I was charged tax for 10oz silver online order in Cali. Turned around bought a 1oz gold bar and 10oz silver onlice Cali and no tax was charged tried the online thingy for the tax refund for the first 1 i bought denied!!

[@hardattackdj]

@@jawaskiconner8695 yup, each state has different tax rules. I think California has a $2000 threshold, so any order of $2k or more is not taxed

[@dingotopruc9642]

In Canada there's is no tax on gold, silver and platinum bullion. More so on coins that are marked as having a face value, like the gold Maple leaf that has a face value of fifty dollars. The 10 ounce round I bought from Costco shows a value of fifty Dollars also. There is sales tax on palladium and rhodium, don't ask me why.

[@subspace666]

think its because they use the definition of precious metals from the dictionary that only include silver gold and platinum.

[@TheDaisytails]

I'm going to have to look closely at my costco. I've never seen bars or a sign for bars at my costco's jewelry counter. I also don't know if my state has a no-tax on bullion over a certain limit. Thanks for checking it out and showing it so I can know to look. I'd love to have one of those!!!

[@ChrisWasherPhotos]

At my Costco the "manager" said gold and silver is too popular, so they don't carry them. The associate and manager did not see any irony in this.

[@edb3877]

I would have asked that manager, "How come? Makes Costco too much money?". lol

[@rickreese5794]

Another shmart mgr ?🥵🤔🥵🤪

[@TexCen]

Costco is actually REALLY good at listening to customer feedback. See if you can't find who the GM for your store(s) are and contact them. I would be more surprised than not if they don't start stocking it - asst. mgr's POV be damned.

[@josephhodges9819]

If they are not making enough of a profit on each one, then the advanced security and the process of ordering them might not be worth it. On each bar they are probably making only $1-$2 because people are not going to pay $10 over spot when it is easy enough to get them off JD Bullion and other only shops.

[@edpodb]

LOL. You'd think they like the extra sales!

[@flemishpopulist1477]

Ha! I was born and raised in the Dunedin/Clearwater area. Sorry, had to comment seeing your receipt and knowing exactly where that Costco is located.

[@BostonEMT]

crossing 19 is not for the faint of heart

[@mrsspegtacular6484]

That’s awesome!

[@flemishpopulist1477]

@@BostonEMT Oh man...100%!! Thankfully they are slowly but surely making overpasses, at least in Pinellas Co.

[@JediBane24]

Sitting at Bellair and 19 watching this now. Might go grab a $1.50 dog from there haha

[@MegaJcamp]

Was real nice in the 70’s, still is, but very congested and built up.

[@SugarSandProspecting]

RCM puts out imho the best looking bullion as reasonable prices AND keep up with demand. I think these bars are the most beautiful ones out there. Kudos to you sir! Great scores!!

[@1dilligaf]

I just ordered from Costco again I noticed on Friday. The prices were going up really quick on silver so I got on Costco‘s website ordered some 10 ounce bars. They sent me a confirmation email and then all of a sudden they cancelled my order. I tried to re-order they wouldn’t let me, few hours later the price went up $30 and then conveniently I was allowed to re-order

[@joeknipp6698]

Speg, as I mentioned in your first Costco video.... Costco is violating the law by charging tax on the bullion (on purchases over $500). It makes no sense for Costco to rely on the knowledge of the checkout clerk to make it tax-free... this HAS to be done by the computer at checkout. How many people were outright cheated by Costco because they were incorrectly charged tax on their purchase ? This is a class action lawsuit just waiting to get started. Contact your state tax authority and let them know what's going on.... or get a lawyer to explore initiating a class action lawsuit. This "accidental" taxing of bullion must not be ignored.

[@Spegtacular]

So contact someone Joe. Be the kindle.

[@joeknipp6698]

@@Spegtacular If I lived in Florida... and I had been wrongly charged tax TWICE... you bet I would ! But this happened to you, not to me. Most lawyers will give you a free consultation to discuss the case... you've got nothing to lose, and a lot to gain (for other Florida residents who buy bullion from Costco).

[@TheDirtymikenation]

@@joeknipp6698 he obviously has more money then enough to not care about recouping the tax

[@Spegtacular]

I fixed the issue and no harm came to me. Someone who was wronged and no fix occurred needs to step forward.

[@greg7129]

@@TheDirtymikenation It's really not so much about the money but what is right and wrong.

[@kryptokerry3172]

We were talking about this in one of my investment groups, glad to hear you had good experience, the tax was good info to have!

[@glengarbera7367]

Thank you, thank you, thank you brother. I am going to buy some silver and gold bars from costco with cash. I never thought i could get cash back using my card. Genious

[@cottonclark897]

I love the Pledge of Allegiance at the end. Thank you, Sir!

[@Crimson_Hawk_01]

Saying California is messed up is like saying water is wet.

[@lewis9888]

I drove Trucks for nearly 30 years so I was in CA many times through the years and I can Not see why anyone would want to live in that Communist State.

[@jamesscherping2461]

Have you lived in CA?

[@markthompson7503]

@@jamesscherping2461 I do. 52 years, It's a nightmare.

[@markthompson7503]

California where they tax your air, water and land.

[@OCKev]

Yep, I've lived in California my whole 55 years. Very messed up! If Costco limits you to 5 bars, which would be about $1500, then there's no way to hit the $2000 tax exemption amount, so you're gonna pay Gavin his taxes no matter what you do!

[@WTXMD-jq1qs]

SpegTacular just to follow up! I went to our local Costco yesterday ready to lower the boom on some silver bars! All they had in stock was a few small gold bars. The MG said they only display what they have in stock and they did not expect and silver anytime soon $

[@paulthailing8206]

He Speg, I love these bars as well! I have a few that I bought a few years ago. They are a really nice 10oz bar for anyone's stack!

[@davidsparks6146]

California has a 7.5% sales tax on bullion coins and bars. However, California has a statewide exemption on precious metal purchases above $1,500. This means that investors who buy more than an ounce of gold or silver from one dealer will not need to pay any tax.

[@timclark7353]

I’m in Arizona and Costco’s system here was setup properly for the tax exemption. I did have the checker only charge for one when I wanted three but got that corrected. I bought five but when I go back I’ll buy more. Great video!

[@tabbennett4254]

What Costco did you find your bars at? Im in Glendale but didn’t see them

[@NetKnowHow1]

The same happened in a Canadian city in COSCO. I told them it was wrong. They were charging tax. They kept charging tax for all the members and I told them that they would have to give those purchases their tax back. After all they are members.

[@jmo82592]

Those are so beautiful! I am so jealous!!!!! On a side note save the boxes. Good for putting gifts in for birthday/Christmas.

[@Spegtacular]

They’re holding dust as we speak.

[@planethedgehog2427]

10:49 Hey, you didn't weigh that bar, moving it to the final pile, bypassing the scale, just like some shoppers do at the self checkout!😆

[@whatthehell2592]

Noticed that myself.

[@2aprogressive626]

@@thisnamewastakentoo_ great, so show us what the machine does when it's fake!

[@RCCarrico21]

Skipped the 8th one that probably the fake lol. Just being that guy. Thanks for the great content!

[@jimthompson9992]

Nice stack of bars, Spegtacular! Wish there was a Costco near me....id be putting a few away for sure! As for gold, id stay away from bars and hope to find Eagles or Maples instead. Much prefer the coins... but that's just me. Take care, be safe and God bless!

[@Spegtacular]

I prefer the coins in gold too BUT I’m totally down to get bars if they’re close to spot. I have no issue with that.

[@edb3877]

Not just you, Jim. I LOVE gold and silver coins but bars are pretty much "meh" to me. I have 40 x 5-oz. SilverTowne Prospector bars that I bought several years ago and consider them as trading material the next time we get a nice silver squeeze. Will probably buy some gold with the proceeds.

[@stacymoore4785]

Why stay away from gold bars?

[@Fortaz107]

So poorer individuals who can't afford to invest $500 or more at a time get taxed while those who can afford to invest more don't have to pay any tax. Seems fair.

[@clinthowe7629]

yeah! I hear you, it’s maddening! I think the elites believe that poor folks don’t contribute anything to society, and perhaps they have a point, so wealth is rewarded!

[@dizzle.1983]

@@Fortaz107 I think I have my violin somewhere around here

[@ratigovinda5930]

Thank you, for that information. Bless you! For your help! May you prosper!

[@optionstraderman]

Thats good stuff. I see you are in New Port Richie, Fl. I'm on the other coast between Orlando and Daytona Beach in a little town called DeBary! Great purchase for you. I love those bars as well, picked up 10 of the a couple of years ago and left them in the plastic for a year. I guess the plastic has a couple of holes in them because a few bars started toning along the edge where the holes were discovered. I unbagged them and put them all in Capsules. Hopefully that will slow down any toning because they really are beautiful bars. Thanks for Sharing!

[@mrsspegtacular6484]

Thanks for watching, neighbor 😊

[@superfluous5480]

Finally! A video with the ‘new’ serial numbers. I just bought one and was thinking it was fake as the serial number does not look anything like my other ones. Cheers!

[@bigrobnz]

fantastic price and looks like you are getting good service from Costco as well.....lovely bars....

[@CuriousEarthMan]

I saw that! You skipped one! lol (#8) at 10:47+. We ARE paying attention :) Thanks for the video!

[@hatingontruth9118]

I'm really happy you know the laws here. I didn't know this and it's something that I need to know. Thanks for sharing.

[@mrsspegtacular6484]

Glad he was able to help!

[@Craig_C-8078]

In VA. Purchase has to be $1,000 or greater and one bullion cannot exceed $1,000. Applies to Gold, Silver, Platinum to be tax exempt.

[@daanmolier3737]

Amazing deal Speq! Up here in The Netherlands no matter how many Oz or amount, the Tax will be 21% on bars a bloody shame I think. Bullion coins are free of tax up here but the premium is way more higher than in the US. A Silver Eagle at this moment goes for 35EUR and Maple leaf and Brittania for around 33EUR :(

[@jeffw1267]

But at least you have all those great social programs.

[@golforfishing]

Here in Toronto Canada the price for a Maple Leaf today is $41.70 CAD which is $28.32 EURO.

[@fraliexb]

You can probably order it online to pickup at location.

[@slvrbkprodev6061]

This is a brilliant video and fantastic advice. Thank you.

[@mrsspegtacular6484]

Thanks for watching!

[@erikthered5539]

Beautiful silver bars, can’t believe you found them at Costco! I guess I’ll be heading to my local Costco and see if they have any. Thanks 🙏🏻🇺🇸

[@donaldmartin836]

The RMC 10 oz Silver Bars are the only Bars that I stack. They are of very high quality and are very well known. Great video and very informative. Thanks for sharing.

[@mrsspegtacular6484]

Thanks for watching, Donald!

[@martinfurlong1071]

@@donaldmartin836 "high quality" or not, silver is silver no matter how HIGH the quality. When high and low, quality silver is melted in the same furnace, it's still the going rate for what comes out! 🤭

[@djc7039]

I stacked silver years ago and found it much easier (better price) to sell a 20 coin roll of 1 oz medallions vs 2 10 oz bars

[@mikebrewer5758]

A certain channel said some intriguing information. I do not know if it is true, but COSCO is said to have purchased huge quantities of 2024 silver eagles. As of right now, you have been showing foreign bullion purchased, If silver eagles show up at COSCO. I am curious to know if this rumor is true, and if COSCO's entry into the bullion market will affect the market (if any). Just food for thought. At any rate. Very nice purchase to add to your personal stack!

[@Spegtacular]

Eagles have been in Costco as of a few months ago. Reported several places. I believe they were a good deal at the time.

[@angelcastaneda6598]

@@Spegtacular The other channel said that costco purchased or basically cleaned up The US Mint for the next 2 months. So basically dealers or big retailers like apmex will have a hard time getting ASE's. But yeah not sure if his source is reliable. I effing live in CA so you are right I have to spend 2k to avoid taxes but if the limit is 5, then I will be charged tax. CA is a POS honestly.

[@Dave_9547]

Just notified that Costco does have 2024 ASE's in 20 coin tubes.

[@DaveEPie]

I bought 2 tubes of eagles from Costco around the first of the year. Decent price. I also did hear that they wanted such a huge amount that they cleaned out the mint

[@dorhinj23]

Hopefully op knows the difference between Costco and the China Overseas Shipping COmpany

[@donniblahh]

Thank you for sharing. I did not realize Costco had precious metals and I just took an interest 2 days ago and shared the information I was advised. BTW, I reside in NC And it doesn't matter the amount that you're purchasing. You have to pay tax on the precious metals... According to Google.

[@leanbike4]

Yes, In California its up to $2k min purchase to avoid paying tax.

[@hj6037]

I bought my and I paid taxes because of 5 limit

[@buckeye9252]

It's 1500

[@KingKatura]

7:53 Alot of them likely have the tax already figured in with the price, since alot of them are smaller business's. Thats what most people tend to do rather than trying to figure out the tax & charge it separately alot of people just add it into the price so that take away price includes the tax & everything else. 8:32 In stores the limit number is literally only for The customer currently. Which means From the momment you walk into the store you can get 5. If you walk out & go back in you become a new customer & can get 5 more. so forth & so on. Thats how its always been.

[@stuartstuart866]

You brought up an excellent point that I haven’t seen other KZbinrs point out, Taxes. In my state ( Nevada ) Costco charges tax on bullion but there is no tax charged from on-line bullion dealers ( at least the ones I buy from). This tax would make my Costco bullion purchases far more expensive than on-line dealers. I even contacted the Costco Tax Department for confirmation for confirmation. Apparently Nevada tax law is a bit ambiguous and Costco doesn’t want the potential liability.

[@bobbymccoy702]

Hey Now Speg, Very long time follower, Your recital of THE PLEDGE OF ALLIEGENCE brought this 55 year old NY'er back to 1976, Mrs. Helfner's 3rd grade class, Fairfield elementary school, Massapequa, NY..... Maximum Respect SPEG you are Spectacular. A bell suddenly rang 3 times fast, then we lined up in size order, went to the hall, knelling down head to the wall we.. DUCK and COVERED, for the Nuclear attack... Memories... that good ole 1976 ....

[@BobJoy_my_collection_of_stuff]

i think you mean 1964

[@mmarmrcz6770]

In NYS, anything over $1000 is tax exempt. This includes PM's and numismatics.

[@estefanopassatore8150]

Yes those bars are coming handy for example when the table is wappling you just put a bar under the foot table. 😅

[@redarcher1416]

I remember buying silver for 4 to 5 bucks an oz, sold it when it hit $40. Bought gold for $275 to 300. Sold it at $1735. Replaced it with 65% more gold when it bounced below $1100. replaced the silver when it dropped below $15. Sure wish I had doubled my holding of silver. Instead I bought a new truck.

[@JollyRogerProductions]

Shitt man, feels like a dub to me. No reason to feel bad about that

[@ponzo1967]

I'm sure you needed the truck, that's still good financial management. Some people couldn't save a dime if you paid them a dollar 💵

[@Ari-mo8qo]

Wow

[@redarcher1416]

I bought used textbooks in college in the late 70’s. Students sold them to the bookstore for 50 cents on the dollar. I bought 50 of them for each of my classes. I used my college savings. This created a shortage of books at the bookstore. I then sold them for a few bucks less that the new book. I a 125% profit in just a few weeks. In 1982 I was debt free. Owned a two year old 4x4 and a 750 Honda. I also had 35 grand in the bank. Opened a Satellite business and bought a 2800 sft house at age 25 with cash. Never borrow money again. It’s much easier to save and invest when you’re debt free. Live simply in your 20’s and 30’s. The payoff is amazing

[@brawndothethirstmutilator9848]

Forget orange juice futures, this man cornered the used text book market.

[@maggiepennington5583]

I glad you could buy all those bars but I hope you have a safe place to keep them! I’d be scared someone would come and hurt me to get them!

[@DJC3.]

Excellent video. I’m new here and the pledge of allegiance in the outro made me subscribe. Thank you. It means more to some people.

[@mrsspegtacular6484]

Welcome to the channel 😊

[@katherinejochman7058]

Wow! I learned something today. I live in Florida not too far from your Costco. I never knew about the no tax over $500. I might join Costco just to buy a couple of bars.

[@markgotschall2914]

I have not seen bullion at my Costco yet, bullion is tax free in Colorado, but the city my LCS is in taxes it. I live in the county and am exempt for now.

[@redarcher1416]

Prior to 2013, the Texas Tax Code allowed a sales tax exemption for precious metals purchases above $1,000. Section 151.336 placed an unfair burden on people wanting to exchange Federal Reserve Notes for real money, i.e. gold and silver, as many purchasers of precious metals make these purchases in increments below the $1,000 sales amount which triggers the sales tax exemption. Fortunately, House Bill 78, introduced by former Representative Simpson, amended Section 151.336 of the Texas Tax Code to eliminate the threshold at which the sales tax exemption is prompted. As of 2013, Texas does not charge sales tax on precious metals purchases of any amount.

[@Spegtacular]

Actually, some precious metals in Texas MUST be taxed.

[@BKastrosky]

That is a wonderful idea to buy silver and gold now, when the prices are record high! Run lemmings run! Ever heard of this smart idea: "Buy low, sell high!'

[@2quick24]

Silver will be 15 times what it is right now between April and September! Watch and learn! After Trump gets busy, banks all fail and close up and the whole financial system has to be rebuilt you will regret that statement! LMAO

[@jsimp4050]

My dad bought a bunch of silver in the 1970’s. I always thought it was not worth it. I don’t have high hopes for the price of silver skyrocketing. I think gold seems like a better investment.

[@stevelauda5435]

Here in Canada, silver bullion is tax free, scrap silver and rounds are not.

[@stevestevens502]

rounds are tax free too if its pure silver

[@wasillastacker]

That is exactly why I traded off all of my generic silver rounds for gold coins a couple years ago.

[@stevelauda5435]

@wasillastacker I will be soon doing that with my platinum. I will wait until silver hits 40 bucks maybe 45 0z,s then dump and buy gold like I did back when silver hit 48 bucks an 0z.

[@stevestevens502]

@@stevelauda5435 $40-45 USD or CAD?

[@ZaraQadir97]

@stevelauda5435 can you explain what you exactly did ? Why didn't you buy gold in first place ?

[@hopehope938]

I have a state issued resellers permit and I buy and sell both bullion and coins. I retail at holiday fairs and events. Having the resellers permit makes it easy to restock both bullion and coins for resale. I only have to pay sell tax’s when I buy a item for my own personal collection and so far I have never purchased any thing for my personal collection.

[@jeepguylv80]

I started stacking in 2016 when spot was around the $14-$15 range, I have quite a few of those 10 oz. rcm bars, they are my favorite looking bar, I also have a couple of their 100 oz bars, but not as pretty looking as the 10 oz., I have all kinds of bars, coins, and rounds, I enjoys collecting them, I also like to buy limited editions when I can, to me it doesn't matter where I get them from, as long as they are in great condition and real. I used to have a hotwheel collection obsession when I was younger, now I traded that for a gold and silver obsession, my wife say's at least I'm collecting something worthwhile for a change lol.

[@mrsspegtacular6484]

Glad she’s on board now 😆 but hotwheels are pretty cool too…

[@RogueCylon]

Some collectibles appreciate far faster than bullion.

[@allsportsexpert]

So when you buy it is $1.5 above spot, when you sell it is $1.5 below spot; a minimum of $3 round trip fees. Has made a small amount of money for the past 8 years holding your silver bars.

[@marllboroman1461]

1:06 The sharp side of the knife sometimes works better…..lol. That cracked me up. Struggles to cut plastic

[@LizaJane84]

Great info THANK U❤

[@fraliexb]

I live in SW Indiana and it shows our sales tax is 7%, exempt "high purity" bullion..... 🤔

[@236RYANARMSTRONG]

Indiana doesn't tax any .999 silver gold etc..

[@shadowspire]

I think silver is gonna go up. I’ve seen a few rumblings about not enough silver being mined in general.

[@kelvinpearson7819]

I think it's cause the guys who own the silver mines are waiting for the price to 3X before digging it up. They know it's worth $100+ an Oz and costs about as much as gold to get out of the earth.

[@shadowspire]

@@kelvinpearson7819 could definitely be part of the reason why, I’m continuing to DCA on my stack. Especially if they want to keep supply down

[@edb3877]

@@kelvinpearson7819 "... and costs about as much as gold to get out of the earth." Somehow that seems dubious. Silver is about 10x more plentiful than gold, so 10x more useless rock has to be blasted, handled, processed, extracted and dumped for gold than for silver. Those costs really add up.

[@Jmcevolve2023]

Well the land of the free kinda buy as u wish. Studies show big box stores push out the little guys. This is a perfect example Costco sells it cheaper but also they are selling non American product. I kinda disagree I love supporting LCS and buy American silver and gold. How about anyone else

[@keithwizzard1722]

the lcs is one thing but all the big guys like apmez etc deserve their future battles with costco

[@DrAlmurshidy]

If you are in Nevada or in any state with a tax law that is not clear cut, never buy from Costoc. They will end up charging you tax and even if they said they will return it with a request they never do. So 4% in cash back and 8% in tax, you end up paying 4% more.

[@michaelanon1968]

Clearwater here. I drive by that Costco nearly daily..

[@jasonponto1032]

Wow...........

[@GWM9930]

Me too!

[@henrywelch9217]

Love seeing a Microtech being used! My daily carry is the UTX-85. Good taste, sir!

[@adiem1653]

In uk they tax silver at 20% - absolutely ridiculous

[@TruthFactOC]

@@adiem1653 UK is a terrible country now, because they are doing communism and globalism, which has brought high costs and crimes.

[@phillhuddleston9445]

With Costco's return policy I wonder if you could return them within a year if the price goes down so it's a lower risk situation.

[@judd_s5643]

You might want to rethink that question!

[@gmanwrangler]

@@phillhuddleston9445 According to a May 2024 Motley Fool article, Costco does not accept returns of silver bullion, coins, or bars. Costco also does not accept returns of gold bars

[@KingBlaisy]

Royal Canadian is the best. Don’t have any royal Canadian silver but I have royal Canadian gold bars.

[@andreavandekleut6379]

had you bought COIN (legal tender) would it be different on your cash back ,? money on Money? walmart selles gold bars

[@2chuck]

The best reason to buy precious metals?.. I grew up in the 50's and when I was a teen I paid .25 for a gallon of gas and I paid with one of our everyday quarters that were made of silver. Today you can still buy a gallon of gas for .25 if you use one of those silver quarters if it was minted prior to 1965, although you have to sell it to a coin dealer to get dollars for it's current value. The increase is due to the silver content, not numismatics value. I sure wish I would have kept those that I got back then. The silver has kept it's value, Dollars, not so much.

[@HH-gn9qt]

COSTCO is great. I have almosr exclusively buying grear deals there instead of the bullion dealers. Hope the selection stays great. Would be nice to see some gold coins either 1 ounce or fractional.

[@isistochterman7044]

Makes my Heart go pitter patter .....nice stack! HI HO SILVER!

[@mrsspegtacular6484]

It’s glorious!

[@shazamshazamshazam696]

It is a state by state law whether or not gold and silver are charged sales tax. Did you look it up, does your state collect sales tax on such purchases? Some states do.

[@stevec7712]

Sales Tax = More of your MONEY for the Government to WASTE

[@fish4bugs]

Buy in NH! No sales tax!

[@_ADM_]

I've just commented: _"greeting from Europe, where everything is TAXed (VAT) 20-25% (depends on country)"_ and I'd rather say: more money for p$yhopates / technocrats for their next scams 🤮🤮🤮🤮🤮

[@drx1xym154]

@@fish4bugs -- then the trip up needs to be cost effective bro! Might make sense IF the State were next door. The main problem is that the "Live Free or Die!" State has enslaved itself to the woke collectivist agenda, Ben And Jerry's and far, far worse. It was once a beautiful State with excellent cities. Now it is just the dumpster fire, garbage collection site for the bigger dumpster fire known as NYC. Can my mind if you think you can, yet I like my mind just fine. Also why nobody should listen to experts, unless they are making a submarine to venture to the Titanic or take on similar challenges. All the medical experts are either quiet or silenced by the collectivists at the Medical Industrial Complex. Crazy times! AMMIRGHT???

[@hopefloats7573]

Do you use the roads? City, State or National Parks? How about the military? They are all funded with tax dollars.

[@cwal_21]

@@hopefloats7573not really, the gov just prints more money when it needs it

[@324amgela]

Here in New York that's free for go and silver over $1,000 you purchase $1,000 it should be tax-free under they charge you taxes and metal

[@curlymaplebandit3107]

The majority of the silver I have hoarded away, my dad and I sat around the kitchen table swapping clad for silver back in the early 70s. The memories are worth well more than the lbs of silver. Miss ya Dad.

[@edb3877]

I can understand that. My Dad passed back in '87 and not a day goes by but what I miss him and Mom( passed in '15). Great people. Same for my wife's parents, although they were older so passed before my folks. I miss them all.

[@EC-ol8nz]

WOW, cash back on credit card is AWESSOME!!! Also Tip your waiter/server with a silver coin! Of course relative to your meal cost and service. When a waiter gets a silver coin ounce or half they totally flip out :)

[@jeffbenson6102]

The Costco's in my area don't carry them, but I was able to get a tube of American Silver Eagles on line. They ended up being $31.35 each after the discounts are removed. $5.00 cheaper than SD Bullion!

[@mrsspegtacular6484]

Nice find!

[@TruthFactOC]

I don’t know if you bought something from China which is fake? Amazon sells a lot if fake things and a lot of fake referrals there.

[@dinoshark4396]

I love silver!! I think its great Costco selling silver! Its almost $32 an oz today!

[@JasonDarbee]

But does CostCo buy gold and silver back ? I dont know I havent been. If not then what is the value ?

[@Spegtacular]

Costco doesn’t buy anything back..

[@ronaldmitchell3665]

They are not DEALERS, but merely retailers…silver is money on the streets , who needs Costco???…

[@johnkenny3034]

Virginia Code § 58.1-609.1 19 provides an exemption from the retail sales and use tax for the following: … gold, silver, or platinum bullion or legal tender coins whose sales price exceeds $1,000.

[@VictorPerez-uc5nj]

nice bars keep stacking brother

[@stanholloway1077]

Ga code 48-8-3 sales of gold,silver or platinum or any combination of such bullion is exempt from sales taxation

[@Spegtacular]

The State of Georgia requires the collection of sales taxes on certain products sold by JM Bullion and delivered to an address in Georgia. These taxes must be collected on (1) palladium products; (2) copper products; (3) accessory items; and (4) processed items. All other products sold by JM Bullion are exempt from these taxes. The following definitions apply to products on which taxes must be collected in Georgia: Accessory Items. Items such as holders, tubes, coin flips, and apparel. Processed Items. Precious metals that have been processed by third parties into items that are valued on more than their precious metal content, such as statues or colorized coins.

[@stanholloway1077]

And I still got got the last 3 bars from the pooler ga Costco no tax

[@lovetoedit]

California... 5 x $289 = 1445 + $112 tax = $1557 (need over $2000 to be tax free) I won't buy at Costco until you can buy 7 at time.($2023). Maybe Costco will make an exception for us here in Cali !

[@LoveMyRottweiler1]

That's a good point...I'm in California near 3 Costco's 210/57 fwy I'm going to try to find out the answer today...opens @ 10AM.

[@silverpatriot8715]

Exactly! It’s unfortunate

[@CW0123]

Living in California and trying to be “independent” is like going to McDonald’s after working out.

[@jakecassillo8219]

California is $1500 an over for no tax. 🤙🏼🤌🏻

[@silverpatriot8715]

@@jakecassillo8219 On Jan 2023 regulation 15992 changed the amount to $2,000to be exempt from tax in California

[@reillystsb]

Those are great bars I ended up with two of them in the rapper with consecutive serial numbers from my coin dealer my Costco in Boca Raton Florida does not sell silver bars far as I know. I'll tell you what I would do with those blue boxes right in the trash

[@ddprepper5227]

Excellent report 👍👍👍👍

[@Spegtacular]

Glad you enjoyed it! It cost me a lot of money to make this report 🤑

[@TruthLivesNow]

I have worked as a 3rd party vendor in Costco for years in California and have never seen these. I retired a year ago, possibly they have started stocking these in California by now. As far at taxing Silver purchases, what I do not understand is that when I lived in California I could purchase Silver Coins from an Internet Vendor without any Sales Tax. Ebay is different, they force people to charge Sales tax. I am not understanding the laws how an outside the State vendor can ship things to California without charging Sales tax, are they just eating it?

[@potterspride1]

@@TruthLivesNow So, there is no purchaser’s tax. Sadly, sales tax is commonly pushed of onto the purchaser by most businesses. There are some good eggs out there that don’t expect their customers to pay their taxes.

[@thepunadude]

$289 FOR 10OZ BARS? NICE BUY! HAVE SOME COINS, MOSTLY 1-100OZ BARS=LOTS N LOTS! (ALSO BB SIZE, WITH TEST KITS!)

[@Timetravel3880]

I just spent 350 ea for 10oz silver bars on apmex. I guess I should go pick up some more at Costco I didnt even know they sell these especially for 289 that's a steal

[@tbone9224]

Good Video. I would like to add that if you have any long term intentions to trade or barter the silver, that pre-1964 US coins will spend much easier because of their relatively smaller value. There may be difficulty getting change back if you only have 10 oz available to barter.

[@tktimber418]

Pre-1965. 1964 coins are silver as well.

[@mattatuckmanful]

I was about to head out to costco for more bars when this popped up in my feed 😂

[@mrsspegtacular6484]

It’s a sign! 🪧

[@mattatuckmanful]

Completely sold out and so was New Britain store. Guy said they only got 20 bars in, and the clerk actually bought one himself.

[@mrsspegtacular6484]

Well that stinks!