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Old June 25, 2011, 14:10   #1
longhair51
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How do you buy hard silver under the radar?

I want to buy $100-$300 of silver coin or bullion a month for a few months. What would you folks do, or suggest doing? I'm thinking face to face transactions to keep it off the record.

Any info on where to look. Is anyone here buying under the table(so to speak)?

I have found one silver half dollar with my metal detector, but that method seems a little slow.
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Old June 25, 2011, 15:13   #2
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Go to a dealer with cash - no record of anything ever with my dealer - might be a different story if you sell to them - in size.
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Old June 25, 2011, 19:59   #3
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So, what's the skinny on this - if I buy a few thousand in bullion from somewhere like APMEX, are they required to report that transaction to the Feds?
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Old June 25, 2011, 20:06   #4
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Find one that won't - the problem usually comes when you take $10k+ in coins TO SELL - we are probably going to be reduced to selling and ounce or two of gold or 20-30 oz of silver at a time on Craigslist F to F... eventually - disclosure - I have only sold PMs ONCE in '03 to finance a legal sear cut FAL- ended up selling it to a Small Arms Review guy for what I had in it - BAD transaction but this IS the FAL files:-) sold the gold for about $280/oz back then - cash on the bbl head - I dropped the eagles on his counter he counted off 23 $100 bills - makes me sick to think about it now.
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Old June 25, 2011, 22:09   #5
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I have seen silver listed on CL.
If priced right I notice the ad is deleted by the poster pretty quick.

Someone must be buying it.



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Old June 25, 2011, 22:16   #6
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I see a few dealers at the gunshows when I go. They allways seem to have junk silver and the Eagels. A little gold from time to time also. I would say do some research and be ready to move when the moment is right.

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Old June 25, 2011, 22:37   #7
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The value in silver is that when things collapse you will likely be able to trade it for $15.00 to $20.00 of goods. IMHO it will retain the value that it had a year or so ago rather than the inflated price that it has now.

e.g. 1 ounce of silver might buy you 2 or 3 grown chickens. Or 4 1 ounce silver coins for a goat.
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Old June 25, 2011, 23:03   #8
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I hit area pawn shops and second-hand resale/thrift stores. Sometimes antique shops,too. Lots of times,they won't know what they have. Other times,they do,and want over spot. You win some,lose some.
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Old June 25, 2011, 23:26   #9
tuck0411
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Quote:
Originally posted by gates
Find one that won't - the problem usually comes when you take $10k+ in coins TO SELL
I don't plan on selling - ever. My stash is for barter purposes if the SHTF, and if that somehow never happens my niece and nephew will likely get it in the will. So, I take it purchases are not reported, but sales are if they're 10k or more. That's good to know. What with the Chinese counterfeits floating around, I will continue avoiding CL and gunshow sellers and keep buying from APMEX.
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"Posterity! You will never know, how much it cost the present Generation, to preserve your Freedom! I hope you will make a good Use of it. If you do not, I shall repent in Heaven, that I ever took half the Pains to preserve it." -- John Adams

"Guard with jealous attention the public liberty. Suspect every one who approaches that jewel.
Unfortunately, nothing will preserve it but downright force. Whenever you give up that force, you
are ruined." - Patrick Henry

"It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds." -- Samuel Adams

"Of all tyrannies, a tyranny exercised for the good of its victims may be the most oppressive. It may be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end, for they do so with the approval of their consciences." -- C.S. Lewis
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Old June 26, 2011, 00:45   #10
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Tuck - that $10k number I threw out there is generic - it's what banks have to report - I have never SOLD anything close to that amount and have not researched reporting amounts - $600 was being talked about last year but I think that went down with the general reporting requirements - I think it WAS part of obama care but it was rescinded by congress and signed by obama -

What I WOULD count on if things go south is having to take PM transactions underground - the government is not going to let PM bugs get rich on the open mkt. if the $ blows up.

Last edited by gates; June 26, 2011 at 11:26.
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Old June 26, 2011, 08:37   #11
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Was that $600 reporting requirement rescinded? Last i heard, and i could be wrong, congress and the white house couldn't get together on this. Basically they couldn't figure out where they were going to make up the $$ this reporting requirement was going to generate (and help fund ObamaCare).

I hope i'm wrong and it was rescinded. Anyone have info?

Oh and Longhair, the feds are looking for bigger fish to fry when it comes to PM's. Small transactions that add up to less than $1,000 are not on their radar. I would say buy from a reputable dealer and forget about it. Good luck.

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Old June 26, 2011, 23:19   #12
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My coin dealer guy didn't report my last two transactions. They were in the thousands, not hundreds. YMMV.
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Old June 26, 2011, 23:24   #13
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Quote:
Originally posted by brunop
My coin dealer guy didn't report my last two transactions. They were in the thousands, not hundreds. YMMV.
Were you buying or selling? I think the reporting requirement is only on sales by you to a dealer, not the reverse. Not certain of that, though.
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"Posterity! You will never know, how much it cost the present Generation, to preserve your Freedom! I hope you will make a good Use of it. If you do not, I shall repent in Heaven, that I ever took half the Pains to preserve it." -- John Adams

"Guard with jealous attention the public liberty. Suspect every one who approaches that jewel.
Unfortunately, nothing will preserve it but downright force. Whenever you give up that force, you
are ruined." - Patrick Henry

"It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds." -- Samuel Adams

"Of all tyrannies, a tyranny exercised for the good of its victims may be the most oppressive. It may be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end, for they do so with the approval of their consciences." -- C.S. Lewis
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Old June 26, 2011, 23:45   #14
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Re: How do you buy hard silver under the radar?

Quote:
Originally posted by longhair51
I want to buy $100-$300 of silver coin or bullion a month for a few months. What would you folks do, or suggest doing? I'm thinking face to face transactions to keep it off the record.

Any info on where to look. Is anyone here buying under the table(so to speak)?

I have found one silver half dollar with my metal detector, but that method seems a little slow.
I don't know bout the rest o ya'll, but I find it ironic that someone is posting about doing something "under the table and off the record" on the fu^$%kcng world wide web..
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Old June 27, 2011, 11:00   #15
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http://coins.about.com/od/goldrareco...coin_fraud.htm

WATCH OUT FOR THE FAKE CHINESE CRAP!!! Buying from unknown sources or CL almost invites the fake shit.
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Old June 27, 2011, 12:54   #16
longhair51
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Re: Re: How do you buy hard silver under the radar?

Quote:
Originally posted by rowjimmy


I don't know bout the rest o ya'll, but I find it ironic that someone is posting about doing something "under the table and off the record" on the fu^$%kcng world wide web..
Well, I did find my one silver half dollar under the ground.
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Old June 27, 2011, 13:48   #17
tuck0411
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I emailed APMEX customer service about the reporting requirement. This was the reply:

"We report transactions when it is required by law. At approximately $10,000 we will be required to report a transaction using either a form 8300 or a 1099. Form 8300 is used when you are buying from APMEX, and 1099 is when you sell items to APMEX. If one of these becomes necessary, APMEX will contact you to let you know that we are reporting the information."

So, apparently the $600 threshold must have been repealed.
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"Posterity! You will never know, how much it cost the present Generation, to preserve your Freedom! I hope you will make a good Use of it. If you do not, I shall repent in Heaven, that I ever took half the Pains to preserve it." -- John Adams

"Guard with jealous attention the public liberty. Suspect every one who approaches that jewel.
Unfortunately, nothing will preserve it but downright force. Whenever you give up that force, you
are ruined." - Patrick Henry

"It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds." -- Samuel Adams

"Of all tyrannies, a tyranny exercised for the good of its victims may be the most oppressive. It may be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end, for they do so with the approval of their consciences." -- C.S. Lewis
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