11:19 am, July 13, 2014

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  • NUF
    deployed decoy
    This entire mess with hated feds and best dates to start eating rat and wild herbs from under the bridge are so depressing. I like NUF better today. It begs the answer to one of the most burning questions in life and something congress really should come to agreement on. Since it is, The Easter Bunny, why is it not The Smokey Bear instead of Smokey The Bear. Or for that matter Super, The Man.
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  • Wordsmiths make life worth living
    contrarian
    At least that's the way they'll tell it. In the meantime I see gas going up again, wishing I could get paid in euros, gold or easter eggs, which all seem to hold their value better than Uncle Sam's greenbacks. DD: I hope you're squirreling away foreign currencies, but I don't have that choice. Sam won't pay me in Drachmas. As the dollar craters imported everything gets more expensive, maybe it's coercion to buy local because only the rich can afford imported anything. Maybe Mike can expand his "frugal Fed" diaries and grow his readership.
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  • I believe in metal
    deployed decoy
    C, I have a whole lot of gold and silver... Hint; the US Mint released 100,000 sets of 5 silver dollars last year for $300. Those sets are selling now for $700+, in part because they allowed 5 sets ordered at a time and sold out in 4 hours... Watch for the 2012 edition of the sneaky mint deals, last unofficial word was another fiasco like last year... Drachmas, just like 1920s German Marks will never be worth anything. But Germans still hold on to those 10,000,000 Mark notes believing the paper will be worth something again one day. Just like Americans are holding $100 notes now. The Euro on the other hand is a real variable. In 2002 when the Euro was released, $1 got you 1.12 Euro. Now $1 get you 0.73 Euro (and that is up 15% from the bottom). Don’t invest on my advice, but I honestly think as rotten as the dollar is, the Euro will tank first and hardest. The US can allow a state to file bankruptcy, the EU cant let PIIGS do that. Then you have places like Slovenia that joined the Euro zone, with GDP the same as North Dakota. Germany might be able to starve off the end of the EU, They are off to a good start. That fancy 7 series BMW cost said rich person 2% import duty. For a German to buy a Corvette, add in 14% import duty and 19% sales tax... Makes it kinda hard for FREE TRADE to work. But that German will race that BWM at 155MPH even with $9/Gal gas.
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  • European Values
    Linda
    Decoy, you have a point with the value of things and the European taxes. I know people who are European that think my husband and I are filthy rich because we own a ski boat. We are definately well off being DINKS, but far from filthy rich. But if the Europeans purchased a Natique Ski Boat from the US, they are paying around $40,000 new, plus shipping $3,000 (?), plus the inport taxes of up to 30%. All of a sudden that $30,000 boat is worth $70,000. Now take a new wake board boat that is $110,000....... What is funny is they don't even understand they are being taxed to death. Americans are just rich and spoiled. Decoy, you probably have better figures than I do, but I think I am close.
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  • EU get what they pay for
    deployed decoy
    Linda, Of the spending money they have left after a 45% income tax rate. Germans after all is said and done with all forms of taxes, pay about 65% tax and retirement contributions. That includes around $6/gal on gas, and the 19% federal (VAT) sales tax on everything but food and books (7%). The up side, it is the USA paying to secure all that oil that comes mostly from Kuwait to the EU. Thus instead of spending almost all of that tax base on oil (sorry defense), the Germans get the best federally subsidized continuing education, medical and retirement in the free world. They complain but not very loud since their 25YO kid is still in a university, working towards a 3rd changed major, for almost nothing. Course the Germans also make people work for unemployment and welfare. They call it the 1 Euro job. Take a job that pays less than what you were making at 1 Euro (or more) and continue to draw the offset in social payments to get you to 70% of your standard of income. Or refuse to work and go hungry. If only we made folks work for food stamps in America... Then a woman can take the first 6 months off after having a baby at 90% of salary (taxed). If she elects to stay home after that, they give her 70% of her salary, tax free for as long as 3 years. Thus they do have professional mothers since NET 70% is a lot more that 55% and staying home with the kids beats working in a factory or bank.
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  • Be very careful
    Moderate
    I am not familiar with what you ordered, but they sound like numismatic specimens from the mint. You said they sell for $700. Is this a reliable source or a high priced source. Check a coin newspaper like Coin World. Next, what will a dealer pay for the items you are writing about? That is a truer indication of its value. You might also want to find out the value of the silver content of these items.------And yes, I am a coin collector although mostly inactive.
    worker
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  • M. Watch the sneaky mint
    deployed decoy
    Mod, Check APMEX, Heritage or eBay. The 2011, 25 Year Silver Eagle sets sold from the mint for $300. On eBay an open (cherry picked) set is selling for $700-$800 this week. A loosely graded NGC perfect 70 set for around $1100, a PCGS perfect 70 set is around $1500. A still sealed set in original mint packaging is around $700-$800, I dont understand why the sealed and open sets are par. Word in the coin community (nothing released from the mint officially yet, just like last year) is the mint will release another round of limited edition Silver Eagles this year. Those 2011 sets had an S business strike and a P reverse proof. Both of those coins were limited to 100,000, driving the price up, in part because many dealers got way more than the 5 sets they were legally allowed and thus created a false limited supply to the secondary market. The mint sent my 5 sets in 2 shipments. The one with 3 sets, came back from NGC with 5 perfect S and Ps, just those 5 coins after expenses a net profit of couple hundred over my original total investment if I was to sell now. Not bad per coin with around $34 of silver in it. Also just as a tip. APMEX (and a few other bullion dealers) will allow a person to invest in IRA American silver or gold Eagles. The company holds these, taking possession is considered a IRA distribution.
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  • Good luck
    Moderate
    Again, I am not knowledgeable in this area. I saw sale prices or best offer on ebay. Heritage is high priced so I did not bother with them. My question is what is the ultimate sales price? I do not know. They are 1 ounce silver coins so you are approximately right on the value of the silver. I suggest you take one of the sets to a legitimate coin dealer just to get his offer. Do not accept it as coin markups, even on quality coins, can be ridiculous now. This might give you a better idea as to the value of the coins. Another way to do this is to find out the actual sales price from an auction. Do not look at listed price etc. These are not relevant.----Be careful if you want someone else to hold your coins. Fungibles are known to disappear.
    worker
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