Is the Whitman Baltimore Expo still essentially cash and check only?
Longacre
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Longacre plans to instruct the limo to drive him to the Whitman Baltimore coin show in the coming weeks. I have not been there for a few years.
Does anyone know if purchases are still made in cash and check, or have credit cards come more into vogue at coin shows? I wanted to get a sense.
Always took candy from strangers
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)
0
Comments
Some dealers will take cards and some won't. Some dealers that do take cards will charge you a fee on top of the purchase price of your coins.
No matter what cash will always be king at shows but.... yes more and more dealers get credit card readers daily
HAPPY COLLECTING
If you want the best prices show up with your checkbook and good reputation with the dealers. The credit card companies charge for their services, and those costs have to be paid by you in one way or another. Making an offer in cash IS NOT the same as making an offer with a credit card payment.
Cash has its own issues. For the dealer there are IRS reporting requirements. Also when I was dealer, I was not thrilled with the idea having carry a bunch of cash out of show and getting it to the bank to deposit it. The same is true for the collector who is carrying a lot of cash. There are significant risks in doing that.
As a dealer there are a few customers whom you have to require to pay you in cash because of past check issues. When I was in business, that was a minor issue, however.
Have Consuela remain in the double-parked limo with the cash. Once you make a deal, you can offer the seller cash or check, or a good tip on GE stock. (The Longacre offspring should always carry cash and be accompanied by his body guard and valet.)
If you must use that dirty cash as opposed to your Chase Diamond card, just have your chauffeur/bodyguard carry it in his murse (that's man purse) and make sure he keeps his Tech 9 discreetly tucked under his trench coat.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
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Some dealers will take "dirty" gold in exchange.
CASH, but I would take your check...
It has been a while for you, hasn't it - Bitcoin is now preferred......
Maryland isn't very firearm friendly.
Cash or check remains the "coin" of the realm.
Be sure to stop by #818 and say hello.
I wonder how many of them (percentage wise) actually properly report cash payments.
On another note, do people seriously walk around the floor with five figures of cash on them? I think I would ask to pay with a check and to have the dealer mail me the coin once the check clears.
Typically, I take the coin with me and send a check when I get home.....or in 30-60-90 days.
We take it all at a show, but the "down and dirty" price is usually for a check/cash.
For a large selection of U.S. Coins & Currency, visit The Reeded Edge's online webstore at the link below.
The Reeded Edge
Cash rules.... I always carry the cash... either at coin shows or gun shows.... Also seems to get the best price..... Now why would that be?
And yes, I have carried five figures in cash to shows... Cheers, RickO
I remember major coin shows back in the 1960's where I saw major deals being transacted with $500 and $1000 bills. I was in my teens at the time and it definite left an impression on me.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
I had a significant dealer there who said cash only or he would have to charge me sales tax on some proof gold eagles with box and papers. I'm not sure what the law is on that there.
The fact that you paid paid in cash did not exempt you from the sales taxes. I think that you were dealing with a bit of the "underground economy," perhaps all of the taxes.
It sounds like he was not planning on reporting any of the proceeds as income or why else would he care about sales tax since the buyer pays it?
Have one of the bodyguards in your entourage hold the briefcase with the cash in it, and direct him to pay each dealer. That's how I would do it if I had a briefcase full of cash and an entourage with bodyguards.
Bullion is often quite acceptable.
I take all (except American Express). Apple Square has made it very easy and simple to take credit cards, so that's what I use. But everyone is correct in that you usually get a better deal with cash. Be sure to stop by my table and say hi (table 845) and perhaps even "pose" for my show report!
The Penny Lady®
Cash makes it a double win for the dealer.
He doesn't have to bother reporting it and paying the required sales tax.
He doesn't have to bother reporting it on his State and Federal income taxes.
Oh wait, that's 3 felonies.
I don't know about the States, but the IRS has rewards for people who report tax cheats.
We can take cash, check, Credit Cards, or trade. Stop by table #345 and say hello!
If you purchase $1500 or > here in Ca. there will be no sales tax.
In Maryland, there's no sales tax for purchases of coins, paper money, gold, etc over $1000.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
But if the law is not enforced who is going to care? I spoke with the city tax people about what their law/enforcement was when the ana was in Philly and they were pretty nonchalant.
try Venmo for deals under $1000
We 99% forget that Sir Longacre need only impress his signet to guarantee payment. So discussions of cash, check, credit card and mere money are immaterial. Plus, those of Longacre's status always have both chauffeur and valet available at all times.
Does Longacre carry his own sealing wax, or are dealers expected to have it at the ready?
You can still get great deals with checks instead of cash at coin shows. If the dealer doesn't know you or know you well, he will ask to see your driver's license and will photocopy it. Then, if your check bounces, he (and the authorities) have your info and can easily track you down.
Sometimes, it’s better to be LUCKY than good. 🍀 🍺👍
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https://www.ngccoin.com/registry/competitive-sets/16292/
Cash is king at shows - after all these are money shows. I wb glad take your gold coins at melt and slabbed coins at Bluesheet as trade in if your a little short of cash.
Wish they would make $200 and $500 FRN.
Longacre's personal valet carries the sealing wax, if you need to know.
Didn't wanna get me no trade
Never want to be like papa
Working for the boss every night and day
--"Happy", by the Rolling Stones (1972)