Support
this site with your Contribution. Click on the Membership link below.
Home | Discussion
Forums | Mission
Statement | Membership
| Links
| Contact Us
| Rules
|
|
|
#1
April 6th, 2012, 10:16 AM
|
||||
|
||||
Orange County,NY Tracks precious metal transactions!
It's not a state or federal law yet but NY State's Orange County Government is requiring Gold & Silver dealers to require and photocopy Driver's Licenses or photo ID when they buy precious metals. This is just Orange County.
I came in with two ounces of Silver Bullion. The dealer overed me $3 dollars below spot. I was like "OK, sure" and then he told me it was the law that I had to show ID so they could photocopy it and send it to the Orange County Sherriff's Office. Of course I cited privacy and indicated I wouldn't do business that way. Both the dealer and I were courtious to one another. The dealer related that in some of their locations, in Orange County, they were required to take a thumb print! 
|
|
#2
April 14th, 2012, 01:53 PM
|
||||
|
||||
Re: Orange County,NY Tracks precious metal transactions!
Unfortunately a common practice. Very common, several cities do the exact same thing in several places. The concept is that they feel it helps track down stolen property. You would find yourself running into the exact same thing if you went in to a jewelry store or pawn shop to sell jewelry.
On one hand you can think it is unfair to be paid anything below spot for silver when the shop sells it above spot, but on the other hand he is trying to run a retail business and very few small proprietor owned retail businesses can function on those 15% profit margins. 20% can work if the has enough volume, but your best bet on any bullion right now is to try the private exchange route first. Around here lots of people just trade it among each other at spot, but the jewelry is all over the map. I get some guy contacting me from time to time wanting to trade his jewelry for stuff I am selling on craigslist. I met him in person once, made a deal pending the appraisal on the jewelry, then suddenly he needed to be in a hurry to be elsewhere and did not have time (roughly half hour) to head downtown for the appraisal...
__________________
http://portlandfoldingbikes.com Life, Liberty and the pursuit of those who threaten them.
|
|
#3
June 11th, 2012, 02:51 PM
|
|||
|
|||
|
Re: Orange County,NY Tracks precious metal transactions!
Strickly IRS spawn. The theft aspect is BS. They did this back in the late 70's then dropped it quietly. Welcome to the new world order.
|
 |
| Thread Tools | |
|
|
