Must buy if you've got eBay 6% offer - PCGS MS-63 $20 Saint back of melt
jmlanzaf
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$1373 minus 6$ is about $1290 net. If you pay with a 2% cashback card (I did), that's $1265-ish for a 63 Saint.
How could I not?
All comments reflect the opinion of the author, evn when irrefutably accurate.
I bought a few, thanks!
Latin American Collection
If you figure you are going to get a 1924 $20, going rate seems to me about $1290 in 63 so pricing all in is about right after the fees. Get anything other than a 24 and you make money.
Latin American Collection
Use the eBay app and know another 2% off
Latin American Collection
St Gaudens is my favorite coin artist and it shows in my collection. Apmex is my favorite seller, I bought a $10 liberty gold from them last week and I don't even collect $10 libertys, i guess I do now since I have one. he sent me a high end ms-62, he always sends me higher end stuff probably because I buy so much from them, they ship super fast too
Buy one at a time to maximize your bucks if you are buying more than one.
I grabbed one as well ! Great buy ..
references for completed transactions : smittys , guitarwes , vetter, JamesM , durexmetals, luke marshall ,perry hall, indiananationals,tamu15 , freechance , wdrob, jimineez1
Thanks for the heads up, didn't see the offer in my inbox.
Sweet !!!
Help me with the logic on this (and know, at the start, I like these kind of deals....I just use different logic)....
So, you buy it at (current price): 1374.99
6% ebucks is $82.50 (THIS IS FUTURE "money" to spend. ONLY on ebay and excludes certain items)
2% cashback (if your card has it, is another ~$27.49
So, what I see, for how I would account for the cost of this item, is $1374.99-$27.49 =$1347.50. That's OUT OF POCKET (once you get the CASHBACK...not ebucks).
Now, IF you USE the ebucks, IN THE FUTURE, then whatever you use it on will cost less, by the amount of the ebucks you use.
I continue to NOT see how people can consider ebucks as reducing the primary purchase cost. It does not. It reduces the SECONDARY purchase cost.
SO, you are still purchasing this $20 piece for $1375 (or consider the 2% less cashback if you want)....not the $1290 price.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Your point is very true and some don't seem to realize that the ebucks are for a future purchase.
The only way one can rationalize it as being close to the $1,290 price is by using the ebucks on some silver item that is close to spot. Apmex, MCM, BPM, etc usually have specials for various silver for ~$1-$3 over spot. One can buy that special, resell for spot or a bit under, and then deduct your "recoupment" from the $1,347,50 out of pocket cost; this won't quite get you to $1,290, but it would be close. (note: you will have to wait a while to do this as the ebucks aren't issued until the end of the quarter).
Right.
I also do this and buy things, for around the price I would pay anyway, once I get my ebucks (fridge water filters, some other gold in bullion category that I wanted anyway and is close to spot...but doesn't pay out ebucks, cell phone upgrades, etc). Things that I would pay the same price for BUT I have ebucks to reduce the price.
If you buy, and hold, your purchase, you may, or may not, make money or break even. You could be down by the time you decide/need to sell.
In the case of using the bucks to buy something, just to flip, well, hopefully you get the same amount to cover when you flip it. Too often, there are hidden costs, or fluctuations.
It's a pet peeve of mine to think it lowers the cost of the primary purchase. I know I should just shut up and let people have their little fantasies, but it is hard.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
I tend to buy gold karat scrap or gold filled scrap with my eBay bucks. I refine the gold to 999+. A few small lots can really add up to a few grams quickly if you know what your doing.
the ebay bucks show on my phone app version, but not on my laptop ebay version. anyone know why?
Thanks everyone I got one also, used the Iphone app Ant 6% ebay bucks!!
This is a distinction without meaning. You are EITHER reducing the cost of the primary purchase OR reducing the cost of the secondary purchase. It simply does not matter to which you apply the discount.
If it makes you happy, the cost is $1350 on this and FREE for something later. Or, it is $1265 here and full price for something later.
All comments reflect the opinion of the author, evn when irrefutably accurate.
Of course that is correct but perhaps I am not spelling out that as you take the ebucks and purchase say another $20 at the same price on say the eBay deals which is $2-$5 over spot then your cost basis for that Oz is significantly below melt all else equal. So effectively it is cost averaging with an added purchase that brings the net to bear.
Coin 1 Purchased on deal
$1375 outgoing
less $28 2% cash back
$1347 Net cash out
$100 eBucks at the 8% App deal
Coin 2
$1375 outgoing
less $28 2% cash back
less $100 eBucks
$1247 Net cash out
Cost average $1297
Melt value of a $20 = $1290 at current spot
Value of an MS63 1924 $20 = $1300-$1400 based on latest APR's
Latin American Collection
Educate me please on your rational.
On the PCGS price guide I'll see almost most Philly dates from the 1920's being priced the same as the 1924's in MS 63.
You are right, the price differences are minimal and within a negligible spread
Latin American Collection
I have done all this before and what I bought on Ebay as a "secondary purchase" I made all the money back and then some. So my thinking is not I paid below melt! It is I got a bonus check for free and will make money on that. I also like the free shipping!!
No, you are incorrect. Here's why.
If you, sadly, don't use the ebucks you earned, then you have saved nothing, on any purchase. And, that's the gist of the whole thing and why I say you don't "save" on the original purchase, with ebucks.
If you truly "saved" on the primary purchase, then you wouldn't have to worry about using/losing it, right?
Please, go ahead and tell me where the above is incorrect and how you still "save" on the original purchase. I'm waiting
At the end of the day, it isn't worth arguing about as it is whatever makes you happy. If you believe you save money on the original purchase, then go on an believe it. It doesn't hurt me and maybe it makes you feel better.
My only point is that the logical path is different than most people see it...but, that is the genius of marketing. Marketing is designed to get your money and make you feel good about it. Seems to be working
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Btw....if you bought it when the thread was created, or before today, you are in the hole already.
It is $1364.25, pre-2% cashback, pre-ebucks, as I type this.
Timing...it's everything
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
So, if I buy a refrigerator from Lowe's and it has a $100 rebate. I can't count that as $100 saved? Rebates these days are often issued as Visa cash cards, some with expiration dates. By your (flawed) logic, I paid full boat on the refrigerator but saved $100 on some future undefined purchase.
Target gives $5 gift cards as rebates. Buy 3 boxes of coffee, get a $5 gift card. Now, if I spend $100 per month at Target and I use the $5 gift cards as part of my NORMAL PURCHASES, would you consider that I saved $5 on coffee or $5 on some future, undefined purchase?
I would argue, it really doesn't matter. $5 is $5.
In fact, if you believe your own statement, you should NEVER TAKE THE REBATE because it is impossible to assess the quality of the rebate without knowing exactly what you will be buying later and at what price.
The bottom line is, you are correct that you must consider the primary and secondary purchase as a single unit. You are incorrect in suggesting that it matters which one I consider to contain the savings. If I routinely spend $100 per month (or $1000) on eBay, the eBay bucks are the same as cash and go towards my normal purchases.
All comments reflect the opinion of the author, evn when irrefutably accurate.
Actually, I'm still up since (by my calculation) I'm still back of melt. I could (if it were here) flip the coin at $1290-$1300 at a local dealer. In that case, since I paid $1350 net (2% cash back), I've essentially paid $50 for an $88 gift card. Still a win...
All comments reflect the opinion of the author, evn when irrefutably accurate.
Again, your logic is flawed. If I know how much I spend each month on eBay - on everything from dog food to coins - there is ZERO chance of my not using the eBay bucks.
And, again, I'm not suggesting you are wrong to consider both transactions together. You are, however, completely wrong in insisting that you must apply the "savings" to the second item. The second, unknown item of unknown price.
Promise me now that you will NEVER USE AN EBAY BONUS OFFER, because according to YOU, you can never know if it is a good deal since you can never know if you will use the eBay bucks or buy something worthwhile with them even if you do use them.
All comments reflect the opinion of the author, evn when irrefutably accurate.
So, I go to Lowe's and buy a cleaner for $100 and there is a $20 coupon. I give them $100 bill and I get $20 in change. The following month, I lose that $20 bill in the park. By your logic, I never used the $20 coupon. In fact, you have two related but different events. I saved $20 on the cleaner but then lost a $20 bill due to carelessness. That is really what you are talking about.
Again, the primary and secondary purchases are connected But if I use my $88 to buy 10 cases of soda, by your logic I have to tell everyone that eBay gave me free soda.
All comments reflect the opinion of the author, evn when irrefutably accurate.
This is a ridiculous conversation lol
I'm starting to think I shouldn't put money in my IRA anymore in case I forget to deduct it next tax season.
Anyways thanks for the link!
LOL.....like I said, to each their own.
If you are happy with it, you are happy with it.
I've already seen how you handle yourself in the 2017 enhanced set thread. No surprises here
Carry on and enjoy yourself.
PS...you are doing the apples to oranges thing, but, that's all good. Enjoy
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
Btw....there are a high % of rebates that are never cashed in. Fact.
Those that do turn in their rebates are ahead of the game. I am one who does that. The rebate does NOT rely on a subsequent purchase. Only the first, primary purchase. FACT.
The "coupon" example is also a realtime, same time, transaction. FACT. No secondary purchase necessary.
Enjoy
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
gold will more than likely be over 1,400 by the end of the year, especially with the new tax laws that will put the country in debt even more. if you live long enough you will see 3,000/ounce gold or more
The rebate DOES DEPEND on the subsequent purchase when the rebate is in the form of a (term-limited) Visa gift card, as they are these days. FACT FACT FACT.
All comments reflect the opinion of the author, evn when irrefutably accurate.
LOL...you mean because I refuse to just cave and pretend that you are correct.
It is no more apples to oranges than your comparison. eBay does NOT give me a discount on the second item I purchase. eBay gives me a discount on the 1st item I purchase that can be applied to the second item. [Like Target gift cards, rebate VISA cards, etc.]
As I've repeatedly said, the two transactions are coupled. As I've also said: it makes no difference to which item you consider the $80 to apply. YOU are the one who is insisting that it is your way or the highway and the $80 can ONLY be applied to the second item.
Your only argument, which is correct but moot, is that if I somehow fail to spend my VISA gift card, I don't get to keep the rebate. This is true, but specious.
On April 2nd, when I buy my $90 in soup and nuts, I've got a $20 Saint for $1260 (if I haven't sold it already by then, LOL) and $90 worth of soup and nuts.
On April 2nd, when you buy your $90 in soup and nuts, you have a $1350 Saint and free soup and nuts.
You really think there's a difference there? We both have a $20 Saint and $90 worth of soup and nuts.
But the $90 discount will not exist without the Saint, no matter how much soup and nuts you buy. So, frankly, it really makes more sense to consider the rebate to apply to the initial purchase not the later purchase.
All comments reflect the opinion of the author, evn when irrefutably accurate.
I'm actually not convinced of this. Gold has barely held its level despite the dollar dropping significantly against the Euro in the last year (around $1.24 per Euro). If the dollar rebounds - which it may well do as the Fed raises interest rates - that might drop gold from its current levels.
[Or not...my crystal ball is broken.]
All comments reflect the opinion of the author, evn when irrefutably accurate.
Both the primary and secondary transaction must occur to get the benefit of the eBay bucks. If you never make the initial purchase, you never get the bucks to use or lose. If you never make a second purchase you never get the benefit of the first. So how you determine to assign cost basis to each is entirely up to the individual and the arguement seems silly.
If I buy a group of 10 coins for $100 and one is worth 99.00 and the rest of the coins are worth 10c each should I consider my cost the same so when I sell 9 of them I hate myself for losing money or should I assign each a cost basis that makes me feel good. It’s all on paper anyway and I like feeling good about myself from time to time.
My Ebay Store
Well, thank you for the laughs. Seriously.
Ebay does NOT give you a discount on the first item. They really don't. They give you a "BONUS" that can be used later. TECHNICALLY, it is NOT a discount on the 1st item at all. Sorry that that eludes your grasp.
Personally, I like the ebucks, and am ok with how they do it. I do know that, a few years ago, I had about $7 in ebucks go bye-bye because I couldn't find anything I wanted to use them on in time and they expired. $0 "discount" for me in that instance. Luckily, the things I bought, I bought anyway, not because of the ebucks.
I use my ebucks with the 2nd purchase in mind. Doing that, I am never disappointed. I pay what I pay on the 1st item and, if the 2nd item is something I want to flip (not the way I usually do things though), then I get that money back. Usually, I buy things I need/collect so I look at the actual cost basis when I put things in my records. Keeps it nice and clean and simple that way.
Pay $1000 for item A, get $100 in ebucks, put $1000 in the books for item A's cost.
Pay $1000 for item B later, get $0 in ebucks because it was in the bullion category but use the existing $100 ebucks, put $900 cost in the records I keep.
No funny money when I do these things. Not even to make myself feel better about the cost of item A. Simple accounting.
However, that's how I do it...nice, logically, simple. I'm no one's mother, nor accountant, so I don't care if you fudge the books to make yourself feel better/smarter, or if it is that important for you to "bundle" your 2 purchases together to have a better cost basis on one of them. Since they aren't purchased at the same time/transaction, it just isn't how I work.
Go to town in your way of thinking. It's all good.
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
I love the back and forth with nobody giving in, and over a topic that doesn't amount to much in the real world.
This place is for you: popforum.net/index.php
Let’s send this to the Supreme Count! I need an answer, dammit.
Dave
Nah....I'm done with it. Said my piece. See the logic.
Like I said above, I'm not his, or anyone else's, momma, and if needing to feel better about a purchase is what is needed, they can go for it
Dave....you just be quiet, you eastside troublemaker
I've been told I tolerate fools poorly...that may explain things if I have a problem with you. Current ebay items - Nothing at the moment
The funny thing is that you came here to tell others how they should do thier bookkeeping.
How about this logic.
You buy item for $1000
eBay gives you $100 for doing so.
You buy second item for $100
Reality is you paid $100 for second item. There should be no cost basis reduction.
Just because the $100 was a gift from eBay doesn’t actually mean the item didn’t cost you $100.
For the simple bookkeeping cost basis on first item $1000
Cost basis of second item $100
Add $100 in eBay bucks to line 21 on you tax return as other income.
My Ebay Store
Hysterical. I appreciate that you are so magnanimous as to allow me my flawed thinking. I have repeatedly said there is no difference between the two views. Yet you are such an arrogant # that you can only refer to other people's accounting as "fudging the books".
All comments reflect the opinion of the author, evn when irrefutably accurate.
Oh, you are clearly everyone's mother...
All comments reflect the opinion of the author, evn when irrefutably accurate.
I know you are somewhat kidding. But there is a valid accounting issue here. I'm a part time dealer, so I will eventually sell it. In fact, if I don't like the way it looks, I may sell it next week.
My way, and I think the IRS would agree, my cost basis is 1260. If I flip it at 1310, I report a $50 profit and pay almost $50 In taxes.
Pokey-Mann's way, I can declare a $60 loss, get a $30 refund and keep my $100 in soup and nuts for a net cost of $30.
From the IRS Standpoint, Bochimann is potentially a tax cheat. In an ideal world, I buy at 1370, sell at $1370, show no gain and get $100 in free stuff.
All comments reflect the opinion of the author, evn when irrefutably accurate.
I am partially kidding. But the IRS considers reward points or bucks that require a purchase to be a discount on the original purchase. That is why points and bucks aren’t taxable. So those of you who use this apparently flawed logic( in our forum moms eyes) are in fact conforming to the law.
Points and bucks can be considered taxable income if there is no initial purchase required. IE sign up bonus.
But everyone has their own method of assigning cost basis. I just wanted to jump in the convo and be a pain. Some include the tax and shipping paid. Some include buyers premium in cost but I have had a dealer tell me that doesn’t count in determining the actual value. (Not kidding but I kinda laughed at him when he said it.).
My Ebay Store
That's what I've always thought. I can live with Mom being disappointed in me as long as the IRS is happy.
I never even thought of doing it Mom's way. Wish I had. I could show a net loss on bullion sales every year and have tons of FREE STUFF!!!
All comments reflect the opinion of the author, evn when irrefutably accurate.
What does it matter? Live free, do what you want.
There’s an 8% eBaybucks offer today. Purchases are capped at $100 per transaction so if you buy 1 coin you’re effectively getting $127 back (if you get 2% on your CC). I bought 5 of them, hard to resist ms63 saints at $1225 each.
Actually, I did get that offer on one of my accounts. Not everyone gets every offer.
All comments reflect the opinion of the author, evn when irrefutably accurate.