California Punishes Precious Metals Buyers
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- Опубликовано: 22 июн 2023
- California has increased the threshold for purchasing precious metals, making it more difficult for individuals to purchase metals on a budget. I also have a giveaway for a brand new @GermaniaMint release.
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Link to Taxes by State: sdbullion.com/sales-tax#Calif...
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“Do you get taxed getting cash from the bank?” Please bro don’t give them any ideas!!!!
That’s funny 😂but I bet anything the government knows everything about bullion You tubers they have troll’s reporting everything to government that’s release they get crazy information with comments to ! I just have this for government !”🖕🏽” your comment was funny have a good afternoon
Don't give the IDIOTS intelligent ideas...
If you're not aware, that's been in the works for a While.
You do. They call it fees.
Imagine how disgusted the founders would be to see how much we're taxed...
Or how few slaves remain..
I'm finding it increasingly more difficult to feel sorry for people who STILL live in California. What does it take!?!
uummm...a Super Earthquake and Commiefornia to fall off into the ocean, is what it would take!
We will all be punished in the monetary and fiscal system for all eternity because people have no backbone, civilizations that do not stand for anything fall for everything.. I will personally be charging 100% sales tax when I sell my precious because by the time people absolutely need and want them they won't be able to get them.. money outside of this corrupt system is invaluable.. these ridiculously low spot prices are a blessing, stack all you can while you can!!
72º and sunny, though.
Regarding 3:41, California Democratic politicians are notorious for imposing "sin taxes" on products such as tobacco, marijuana, booze, sugary beverages, gasoline, diesel fuel,, plastic shopping bags, etc. However, politicians ought not impose sales tax on buying precious metals, because purchasing these products is not "sinful".
It is to them...
Dude! I didn’t even know about this! I made some purchases with dealers over the last week, but they never charge me anyway. Then I made a big online order yesterday, but it was over 2k so I didn’t even realize. That sucks!
🔥🦈🌊
thanks CC, i always felt like the air was let out of me at checkout when the tax part was fiquerd in.
You really think politicians care what we want? Our budget is in the hole because we're mandated to pay for things we could do without like state workers.
That’s a bunch of bunk! The little guy buying under 2K pays taxes, but the rich guys don’t pay taxes. Not fair!
It certainly is! Hinders a lot of good folks.
#taxessuck I despise these criminals that tax is more and more for everything. Here in NM, it’s as deep blue as CA with similar corruption and lunatic policies.
#taxessuck in a state already being taxed to death. We’ve been getting screwed for years. And I thought saving $1500 was hard enough. Now I find myself taking “ silver” vacations to Reno. Coin Shows are the best way to go now.
👍🏼
Im a Dual Citizen and lived in San Hose / Santa Clara! for many years. The 80s and 90s were GREAT back then!
I feel bad for you decent folks that live in Kaliforniastan. Here in Alabama there is no tax or hold delay on bullion. I am going to get some of those Germania coins. #taxessuck
Same in Missouri
#taxessuck Thank you for the update on CA's sales tax threshold on bullion products.
I think we could write all the letters and make all the phone calls we want and it won’t make a difference.
It’s a beautiful coin. I’ll see if I can find one online. I don’t care too much for GAW’s.
Great video thank you. 👍
So everyone in the WORLD could buy more gold than a californian
#Taxes suck! I enjoy all of your knowledgable commentary. Thanks a bunch!
It's crazy to me that people are being taxed on buying American coinage. Sales tax on 90% particularly is a egregious violation. All that you're doing is trading one form of your national currency into another. Not sure how that ever came about in the first place, but it should be illegal. You're literally paying a tax on buying back you're own national coins. Also, if calling your so called representatives did anything then it would of changed things a long time ago. #TaxesSuck and taxation is theft!
right , gold and silver is physical metal money you trade for paper money. So if you are not taxed on currency you should not be taxed holding gold and silver change.
Yes gotta buy more to ditch the taxes.If I purchase on line a gold Buffalo I still have to pay taxes.I purchase at coin shows there are dozens and 0 tax!
Ohio finally came to their senses a few years ago, thank Goodness 🙏
And ensures that people will go ELSEWHERE to buy their PM's
Totally immoral that this is subject to sales tax at all.
Taxing gold is like taxing the purchase of a stock. It's just ridiculous to me.
Yup!
Thank you for the information. As a fellow over taxed Californian and brand new stacker, I'm learning all I can and appreciate the channel, links and insights. I just assumed it's normal to tax gold and silver purchases because we are hammered by it all the time. Knowledge is power. Thanks for providing some. #taxessuck
Glad to help and congrats on starting your stacking journey!
I bought a Morgan at Witter Coin (on line) in San Francisco in early May, and then I had a chance to visit their store in person over Memorial Day Weekend. The coin I had bought on-line was about $1100, so I bought a tube of generic silver rounds to get the total price over $1500. Well, when I visited them at the end of May, they said that my transaction alerted them to the fact that the law had changed (evidently someone in their back office caught it). However, my local coin shop (in So Cal) is not aware of the new law, and is still going by the $1500 threshold.
Also, I find that on-line dealers out of state charge tax differently. The big places, like SD Bullion, charge tax based on the zip code to which it is being shipped. Last year when they had their 10-year anniversary rounds on sale, I adjusted the price to get just barely over $1500 (I think it was 63 rounds at the price of silver at the time). It was cool to see the sales tax present when my "quantity" was at 62, and then disappear when I changed quantity to 63. On the other hand, I bought a Morgan from a shop in Florida, and they did not charge me sales tax because the threshold in Florida is $500 and they didn't much care what the threshold was in CA.
Lastly, I'm not sure how legit this is, but whenever I visit a local coin ship in CA, and I both sell them something AND purchase something, they charge no tax, because it is simply "a trade", exchanging one form of metal for another. And they seem to do this regardless of the size of the transaction, and regardless if what I'm selling is the same price as what I am purchasing. Is this the experience of others?
All taxes suck, Louisiana does tax coins Below 1k, but has a 3% taxes rate on silver rounds that is not legal tender of the U.S.
Sad that California just continues downhill.
I visit a friend in Orange County often. California practically puts tax on air. I had to pay 10 cents at a grocery store for each bag. Proposition 13 however is fantastic!
This law, like many, disproportionately affects people with lower incomes. They'll be stuck buying "monetized" precious metals at dramatically higher premiums, paying the sales tax, or saving up for a long time to make the $2000 threshold. Or, and I hope this is the case more often than not, buying and selling under the radar. But, that also has negative consequences for low income people, as they'll be more likely to get scammed.
100%
KY has a flat 6% on metals and collectables. I regularly reach out to my nonrepresentative representatives to eliminate the punishment of responsible citizens.
I absolutely love Germania Mint!!!
#taxessuck . I wonder if a LCS could make a living selling on the border of California and Nevada. We don't have a sales tax on coinage.
I’m from MA appreciate your sales tax link on sd bullions page. Made me rethink my whole stacking strategy,
KEEP BEING GREAT MAN‼️#taxessuck
My pleasure! Thanks for watching!
#taxessuck. I’m in California and these politicians need to go!!
#taxessuck that round is beautiful 😍. Germania always produces top notch products and I have yet to see one of their products milk spot!! Sorry about your state tax requirements. I reside in Ohio and fortunately 2 years ago we got our taxes on precious metals rescinded and now are tax free for them.
Yes sir! More than a few freedom loving states doing right for their people. Glad you're in one of them!
That's a BIG WIN! Ohio is still run by sane people.
Living in New York, I am all too aware of how #taxessuck. Our roads and infrastructure are crap too!
#taxessuck I have not been charged for withdrawing money from my bank but I know of a coin dealer who pays a fee to deposit his earnings. Now that sucks!
Taxes suck. Texas doesn't have any tax om real money
Luckily in the UK gold Britannia's and Sovereigns are classified as legal tender so there is no sales tax or capital gains tax
#taxesuck I'm glad I moved out of CA over 10 years ago and will never move back. A couple years ago a small amount of stock that I had from working for a CA company when I lived there had to be sold because the company was bought out. CA taxed me not only on the profit for the sale of the stock but all of my income (including that which I've earned in my home state). I cheer for CA to get more droughts and wildfires.
Where did you move to? I want out of here, too but haven’t figured out where to go yet.
@@H-bv1xtmontana is full but i hear north Dakota has room :)
Sad. The whole west coast seems screwed up
Beautiful coin taxes realy suck
The Beatles song about the Taxman comes to mind.
#taxes suck. Pretty soon taxes at the bank and the atm and all cash back purchases. It's about greed and control.
Thx Campbell!
#taxessuck here in CA
Good vid. Appreciate you!
No prob!
I’m happy to live in a state that will not tax precise metals. No sales tax is a great thing but they compensate in other ways
Taxes suck!!!!!
Taxes F'ing suck!
Vince Fong and Shannon Grove will vote against it.
Ah man, #taxessuck! I have an online dealer that I go through that DOES NOT charge CA sales tax on my orders no matter the size. 🤑
Very nice!
Just think of it as they are encouraging larger purchases 😊
Haha, there you go! Politicians looking out for folks so they stop buying fractional gold lol.
#taxessuck California definitely needs a reform in policies. Hopefully the next governing officials will bring change for the better.
100%
Taxes suck
No taxes on precious metals here in Canada..(Canukistan)............YET..ANYWAY!!!! ..KEEP STACKIN!! PREPPERING ALSO!!!! That is VERY important to do also!!!............Im a Dual-Citizen and liver for years in San Hose/Santa Clara.
Wait aren't car-registration used for roads? What's a "driving tax" for??? 🤨
Citizens should definitely not be taxed 2, 3, or 4 times over. #taxessuck
Nope!
Another reason that CA is not a place to be.
CA has the highest taxes in the nation. I have seen how they manage or rather mismanage the tax money they already get. They neither need nor deserve the money they already get, let alone need or deserve more of it. Find yourself a good local coin shop and pay cash and keep it between yourselves.
#taxessuck don’t want to enter contest but taxes do suck. Just pulled the trigger on huge order. Thanks bullion banks! 🦍❤️❤️❤️🥈
🙏🇺🇸
#taxes suck even here in Australia. Unfortunately because I’m from Australia I am excluded from entering this competition. 😭
Loving my new Germania Mint products I purchased from Bullion Now in Melbourne, Australia.
So glad I moved out of California.
Hmm>? do lcs charge tax? mine dont
Just make sure your item is 2K or multiple items is 2K.
They will tax the hell out of bullion.
Get your constitutionals!
#taxessuck indeed. Thank you!!
I've lived in CA for more than a decade. Never paid that sales tax. Secondary market private sales & cash sales only at shops. There's always ways around come on now. Just gotta be a bit more resourceful and not bitch about it.
#taxessuck Why does California feel that only people who can't afford to spend more $ stacking deserve to pay additional taxes? Can't wait to add my name to the many who have left this state!
You and me both!
I live in CA and rarely buy from online dealers because of the additional cost created by taxes. #taxessuck...
#taxessuck is what everyone's saying about the new $2000 threshold in CA.
#taxessuck just like cold French fries, a zipper on your jacket getting stuck, a short in your headphones & your charger not working, never getting a Friday off, & opening a soda that’s been shaken up. 😮💨
THANK GOD Michigan does not tax Silver, Gold, nor Platinum.
Also #Taxessuck
That's great!
You are right. I want to buy out of state to avoid that #taxessuck
#taxessuck Great video and I completely agree; taxes are designed to limit and punish.
🙏
#taxessuck for sure, I live in a bullion tax free state, but occasionally when I purchase through eBay taxis added! Not cool!
Does California or the other States that charge Sales Tax on precious metals, tax 90% Constitutional coins?
Yes in CA. Other states have different restrictions which may or may not include constitutional.
I would simply make a trip to Nevada and Arizona or other border states to buy PM
Nice flag silver bar. I got a license plate version from the same guy.
Cheers
Ouch! $2000 is a *huge* threshold to cross. … #taxessuck
Does this tax apply to legal tender coins? Eagles, pre-33?
Yes. Doesn't make sense that it does, but yes.
Yeah I thought NY was bad at $1,000 and here cali is $1,500 , screw that lol but yeah luckily I’m financially able to always buy over the $1,000 threshold but yeah it sucks if I just wanted to buy a 10oz bar
Taxes super suck!!
I smoke like a chimney in the dead of the winter, I know all too well, #taxessuck
I’m pissed about Florida’s $500 limit. Taxation is theft.
I'm in Kansas, you the Man
Tax threshold only affect the poor
Taxes suck or taxessuck . I don’t think I could have put it any better than that.
California is absolutely crazy in general. Why don’t you move and this new coin so beautiful I want one song.
$2,000 🤬 I’d move
#taxessuck.
Thanks for keeping us updated.
Thank you for your videos! As someone very new to the work of precious metals it is nice to know there are content creators that help guide those who need it. #Taxessuck Keep up the great work.
Appreciate your support!
Huge thank you to @germaniamint for sending this round to me to review. 🙏
Link to SD Bullion's State Tax Breakdown: sdbullion.com/sales-tax#California
Link to Germania Mint's newest release: germaniamint.com/2023-malta-golden-eagle-5-euro-1-oz-silver-bu-germania-mint.
#taxessuck
Go Campbell’s coins!!
#taxessuck That is a shame with CA doing what they do but not surprising at all. Beautiful coin from Germania.
Funny I was going to say #Taxessuck just without the # 🙉
I’ve said it before but I’ll say it again I’m amazed that my Bleeding Heart Liberal Blue state I live in doesn’t tax coins or bullion.
I asked my LCS owner about it and she told me that there has been millions of dollars spent in lobbying to keep it that way here in Illinois.
I’ve seen the new Germania mint coin on a couple of channels now and I think it’s the bomb 💣
Cheers 🥂 Campbell
#taxessuck Thanks for the information. Happy I don’t live in beautiful but expensive California anymore.
#taxessuck I live in California too. People who can’t afford 2k in precious metals have to pay but the wealthy don’t pay. It penalizes the stackers who are lower income and just trying to get ahead.
Exactly. Damn shame.
#TAXESSUCK I live in Texas. We have no taxes at this time. I would be ticked off if they change that. Our government is out of control!
ESCAPE FROM CALIFORNIA!!!
#taxessuck I live in the state of Maryland and have to buy $1000 in order to avoid the tax. Makes it difficult when you have to make that high of a threshold.