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Example of excessive government regulation - owning a coin store [UPDATED IN LAST POST]

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  • pf70collectorpf70collector Posts: 6,817 ✭✭✭
    I could see this law on the Federal level soon, especially when the dollar collapses to track all PM purchases.
  • BAJJERFANBAJJERFAN Posts: 31,572 ✭✭✭✭✭


    << <i>I would neither buy or sell at a place that had that compliance. Ever. >>



    Everyone who feels that way should be writing to their local govt and cop shops.
    theknowitalltroll;
  • BAJJERFANBAJJERFAN Posts: 31,572 ✭✭✭✭✭


    << <i>I would be in favor of a law specifically permitting owners of jewelry stores, coins stores, etc. having the right to take info and copy driver's licenses of any customer for transactions over say $250, or if the seller refuses then the store has a right to refuse the business. >>



    I sold an old gold ring a couple months back. They copied my DL and I just had to sign a form saying I was the owner of the goods.
    theknowitalltroll;
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,933 ✭✭✭✭✭


    << <i>[Since 99% of the transactions don't involve the sale of stolen goods, instead of reporting every single transaction, wouldn't it make sense for the police to contact all of the shop owners with a list of the stolen items if and when there is a robbery? >>



    I think they are saying they don't trust the shop owners. That should make them even happier. >>



    The last detective who I worked with on a case said it was 6 months old. I told him if it takes law enforcement six months to get a report on a theft from another state that the problem is not second hand goods dealers or our reporting. It's a disconnect between agencies. And we don't need a "federal" law for our boys in blue to fix this issue, although we seem to think we need Big Brother to control everything image Lest we forget about absolute power.
  • BarndogBarndog Posts: 20,522 ✭✭✭✭✭
    Big Brother knows that business people won't be able to afford the time and the attorneys needed to get these intrusive regulations tossed into the trash heap where they belong.
  • TwoSides2aCoinTwoSides2aCoin Posts: 44,933 ✭✭✭✭✭


    << <i>Big Brother knows that business people won't be able to afford the time and the attorneys needed to get these intrusive regulations tossed into the trash heap where they belong. >>


    It's "mate" but not quite "check mate" as the people are way bigger. Let's look at how merchants operate in other places and why WE can be effective without money.

    A reference point toward "gold" not coins. Jewelry, not bullion
    I understand this story is not about "coins", but is necessary in establishing the real point of my contention with excessive intervention.
  • JustacommemanJustacommeman Posts: 22,852 ✭✭✭✭✭
    You need to make few cops customers..............MJ
    Walker Proof Digital Album
    Fellas, leave the tight pants to the ladies. If I can count the coins in your pockets you better use them to call a tailor. Stay thirsty my friends......
  • telephoto1telephoto1 Posts: 4,966 ✭✭✭✭✭


    << <i>they sent us a camera and software but we have yet to install it at this point.

    Every item you list on LeadsOnline, you have to send them $1.

    I asked the police officer in our town (Tucson) how I should break items down. Since they are on the enforcement end they erred on the side of caution and said that everything had to be itemized. If I bought a bag of foreign coins for $5 a pound, I would have to list each coin, they said. No kidding! Of course, that's impossible, but what if it was a sliver dollar collection, where many of the common dates trade on a $1 margin in circulated condition. If I had to list each date, they are taking 100% of my profit.

    One exception is if they are like items, you can list same dates as one item. So if they are all 1921 Morgans or 1964 Kennedy half dollars you can list them as one item. Serial numbered items must be listed separately. >>



    Rick- this $1 charge must be a local thing in your state or city....? I confirmed that there is no cost to merchants here (central IL), at least for the time being. In your case, the $1 charge stinks-it will force dealers in your area to expand margins when buying (side note-frankly a $1 per coin margin seems rather thin on something as easily sold as used dollars imo, but I digress)...translation, it will force dealers to offer less money to cover fees, resulting in less purchases. This is going to hurt business...badly.

    RIP Mom- 1932-2012

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