Gold Sales

Frequently Asked Questions

1. QUESTION:
   In the new Health Care law do you have to give a 1099 for gold sales?
   Does the new Health Care Law stipulate that individuals who have gold coins (at least 0 worth) and decide to sell them have to provide a 1099 form? Does this apply to all other property sales over 0?

   • ANSWER:
     state taxes and inheratance taxes will get it when you die

2. QUESTION:
   How long does it take to get 15m from runescape gold sales.?
   Just an estimate on days or hours.

   • ANSWER:
     Well, I bought 5M the other day. Everyone knows the updates, so you have to let the powerfarmers get on your account and farm it for you. The 5M took 2 days, so 15M will take about 6 days im guessing; im sure all the power farmers get the gold the same way.

3. QUESTION:
   Why did the FED decide to track gold sales over 600 dollars?

   healthcare reform gem:

   1099 Form requires all vendors starting in 2012... if the business purchases 0 or more in goods or services in a year from that vendor.
   Currently a business is only required to issue 1099s for payments for services, not goods, purchased from individual persons, not corporations, if the total payments to that person exceed 0 a year.

   • ANSWER:
     they didn't. What you are referring to is the 1099 reporting requirement of any and ALL transactions in all sales of any item 0 or more. This was part of the health care law that passed. This provision was slipped into the bill. Remember that the Speaker of the House said "We have to pass the bill so we can find out what's in it." This was one of those provisions that nobody knew about until the bill was passed.

     It would have effected the gold and silver markets the most because many gold and silver transactions in the physical market are not subject to 1099 reporting.

4. QUESTION:
   How much album sales do you need to be Gold, Platnium and Diamond status?
   how much sales do you need for:

   Gold ?
   Platnium?
   Multi Platnium?
   Diamond?

   • ANSWER:
     The RIAA certification is:

     500,000 units: Gold album.
     1,000,000 units: Platinum album.
     2,000,000 or more units: Multi-Platinum album.
     10,000,000 units: Diamond album.

5. QUESTION:
   Why don't we have discounts and sales over Gold items?
   We can always see sales over almost all other items except gold Jewelry.

   • ANSWER:
     Because gold has an intrinsic metal value. The value of the manufacturing into jewelry in next to nothing. Thus, before selling gold for cheap a store can sell it for almost as much as scrap gold.

6. QUESTION:
   How much oney do Varisty Gold Sales Reps earn per year?
   In Atlanta...

   • ANSWER:
     Depends upon how much you sell. Generally, on average, 30-40,000/year

7. QUESTION:
   What IRS tax form do I use to report gold and silver sales?

   • ANSWER:
     If this is your personal jewelry etc., you report the gain on the sale on Schedule D of Form 1040. You would not report a loss on the sale of your personal jewelry etc.

     If you held gold stocks, bullion, coins etc. for investment, you would report both gains and losses on Schedule D.

8. QUESTION:
   Wash Sales Rules for Gold Coins?
   Hi All,

   Can somebody help me understand wash sales rules for Gold Coins. If I sell a 1 oz American Buffalo coin and immediately purchase a 1 oz Canadian Maple Leaf coin, do wash sales rules apply? It is still 1 oz of 24 ct gold, but is a different physical coin.

   • ANSWER:
     indispensable commodity

9. QUESTION:
   On a gold disc awarded to an artist which is for sales of a cd is the disc real gold?
   When an artist is awarded a gold disc for a cd the cd's are displayed in the frame set on a gold circular background. Is this gold background really gold coated or is it painted to look like gold.

   • ANSWER:
     No is gold plated. No real gold involved.

10. QUESTION:
    Does the U.S track gold sales?
    Does the U.S track gold sales some how. Ive been wanting to add gold to my retirement, but i don't want the government to find out about it. Can you buy gold with nothing more than cash? when you sell gold do you receive cash?

    • ANSWER:
      If you purchase gold with less than ,000 of cash in any transaction, then it doesn't need to be reported to the IRS. Otherwise, it is.

      Either way you will want to maintain records (and keep receipts) of your precious metal purchases to show that you obtained the metal legitimately and to show evidence of the cost basis.

11. QUESTION:
    When traveling to yard and garage sales, how can you tell real gold jewelery from fake?
    I have no idea what to look for.

    Is there a quick and easy way to determine the real from the fake without having to buy it first?

    • ANSWER:
      On earrings, a tiny stamp is found on the post or hook. On bracelets and necklaces, it is found on the clasp. The stamp will be either 9k, 10k, 14k, or 18k. Take a magnifying glass with you, it is small. 9k is british gold, 10k is standard gold, 14 and 18k is high quality (less impurities). All of these are gold. Beware of a stamp that says 14kgp, it's gold plated, or a thin layer of gold over a base metal. If it doesn't have a stamp, it isn't gold. Vermeil is another gold coating heated onto copper or silver, and looks very brassy. Also not gold. Good luck with your gold digging!

12. QUESTION:
    where to find good, cheap clothing sales in gold coast australia?
    Hi

    I'm going Gold Coast in a week's time. Is there anygood, cheap places to shop for clothings..? heard that harbourtown is not really cheap... any recommendations any one??

    • ANSWER:
      I bought at the local thrift stores, wore it and gave it back at the end of my vacation. No carrying here and there. When you travel, travel light. Two light things equal one heavy thing.

13. QUESTION:
    Does a portion of the money from the sales of gold on super poke pets go to support real animal shelters?

    • ANSWER:
      Yes, by law because it is labeled a 'charity auction & fund raising' some of the money had to go towards the specified cause. The question is HOW much. Some `charities` give as little as %1 or less to their cause. They can still legally call themselves a charity however because they are giving a percentage of the money they get. I don't know exactly how much money Superpoke pets give, but they do give some.

14. QUESTION:
    A Villager's Golden Heart:Is Gold Sales down by 25%(9Tons) on Akshaya Tritiya compared to last year(12Tons)?
    Is 9 tons of Gold sold out in Chennai and other parts of Tamil Nadu on 16.05.2010 alone?

    CHENNAI: Jewellers across Tamil Nadu on Sunday reported a good response on the occasion of special sales got up on Akshaya Tritiya, considered auspicious to bring home wealth in any form.

    People across the state thronged jewellery showrooms since early morning to purchase gold and diamond ornaments.

    http://economictimes.indiatimes.com/markets/bullion/Gold-sales-good-on-Akshaya-Tritiya/articleshow/5937488.cms

    • ANSWER:
      The main reason for the fall in sales seems to be because of very high price (Rs.1696 per gram).
      however response is good but all buy in small quantity.

15. QUESTION:
    What is the link between conservative propoganda and gold?
    Why whenever I watch any show on foxnews, or listen to glenn beck, rush, and hannity on the radio are there never ending adds to buy gold? What is the coorelation between conservative media and gold sales? I don't understand it, you never see these adds on cnn or msnbc? Why just during conservative bologna?

    • ANSWER:
      Conservatives like to conserve their savings and retirement funds. Right now gold is going up while the the dollar and stock markets are uncertain so a good way to store your savings is in metals.

16. QUESTION:
    I want to buy the cheapest tibia gold online,Can you introduce a sales tibia gold site?

    • ANSWER:
      You can buy the cheapest tibia gold at http://www.gamegoldfast.com/tibia/buy-tibia-gold.php

17. QUESTION:
    I'd like to start buying gold jewelry. Can I tell quality from the price or are the sales just as good?
    I can spend around 0 and will be using this jewelry to sell if I fall on hard times. Is this a good idea?

    • ANSWER:
      If you're going to buy gold, spend your money on gold bars or krugerrands. Jewelry only depreciates.

18. QUESTION:
    How to get the highest sales price for a few German gold coins in New York City (Manhattan)?
    I own 5 coins. They are each 20 Deutsche Reich Mark, dated 1913, 1913, 1893, 1904 and 1912. What's the approximate value?

    • ANSWER:
      I believe, (off the top of my head), that these coins are about 1/5 ounce gold. They are, however, somewhat scarcer than other European gold coins. I would take them to a larger coin dealer, (R.M. Smythe is in manhattan I believe, they are very old and prestigious). They would give you fair value immediately. Items like this, though, sell well on Ebay and you may make more there.

      To get more details about the coin, I would look at World Coins and their values, and look the coins up. Many libraries will have this book, as well as many large bookstores, (not that I am telling you to just use a book in a bookstore.....).

19. QUESTION:
    what make up can I wear with a gold dress?
    I am going to a wedding and I have a burnt-yellow/orange indian dress covered with gold embroidery and matching gold sandles.

    What colour should I paint my nails and what make up should I do?
    I need to break up the gold a little, i dont want to do gold make up.
    The link below gives an idea of what colour the dress and shoes are.

    http://www.google.co.uk/imgres?imgurl=http://cdn.wn.com/ph/img/d5/29/f562f574c04595d1d431030fb881-grande.jpg&imgrefurl=http://article.wn.com/view/2010/04/21/Gold_sales_may_surge_tomorrow_on_Gurupushyamrut_day/&usg=__6LD7XWZeRBQwJ02Rs4Hq47OpTLA=&h=351&w=468&sz=25&hl=en&start=30&sig2=JOhIOfd54hNZatz9ZtW6ow&tbnid=8r4qeull3_7vXM:&tbnh=125&tbnw=183&ei=MH1RTIm7Dp_20wScz8nyAg&prev=/images%3Fq%3Dindian%2Bgold%2Bsuit%26um%3D1%26hl%3Den%26safe%3Dactive%26biw%3D1090%26bih%3D576%26tbs%3Disch:10%2C809&um=1&itbs=1&iact=rc&dur=405&page=3&ndsp=19&ved=1t:429,r:10,s:30&biw=1090&bih=576

    • ANSWER:
      Pink, peach, coral. Go for light colors.

20. QUESTION:
    Sales in July in Melbourne ,Gold coast and Sydney?
    Are there any sales in July in Melbourne ,Gold coast and Sydney?
    end of season sales

    • ANSWER:
      What do you mean?

21. QUESTION:
    Will the Queen and Pope have to sell their gold to survive the downturn in Bible sales?

    • ANSWER:
      The queen has enough grovelling minions who think she is good for tourism, what Muppet's. The pope gets enough money from the paedophile priests he hides in the vatican. So I think both will do fine you get a good price when you sell your soul and these are two of the most evil people on the planet. Tthe thing is the thick TV watching sheep have no idea what is really going on in the world, I bet many are so ignorant they have no idea that nazi cow was behind the Iraq war and the British control of the banking system

22. QUESTION:
    when glen beck sales gold on his show,do he get a % of the 35% more then it's worth they sell it for?

    • ANSWER:
      It is the station that made the deal with the gold company to advertise for them on the Glenn Beck show and it is the station that the gold company pays.

23. QUESTION:
    Why is the U.S. Mint suspending gold coin sales?
    What is the reasoning behind this decision? Thanks.

    • ANSWER:
      I wasn't aware of this. I did a quick search and came up with http://gold-news.org/

      Apparently the Treas. Dept is halting sales until 9-27 because prices of bullion have risen dramatically and are expected to continue to climb.

24. QUESTION:
    Do you think gold is over valued?
    There's so much hype surrounding gold sales. What kind of investment is it really? Would silver be a better investment?

    • ANSWER:
      If you were to compare the relative values of things as they are now and as they were 50 years ago, it does appear as though gold might be overvalued. The interesting speculation would be would would the value of gold have been if its price had not be set by governments at that time. The value of gold is inversely correlated to the value of government paper. At the moment there is not too much faith in the value of government paper. Perhaps rightfully so.

25. QUESTION:
    How long will the U.S. Mint keep the American-Buffalo 24 karat Gold Coin sales halted?
    The demand for gold is rising fast because the U.S. economy is tanking. If coin dealers are out of all American Gold coins including American Gold Eagles too, would you buy a Canadian Maple Leaf or a South African Krugerrand? http://www.huffingtonpost.com/2008/09/28/us-mint-suspends-sale-of_n_129960.html
    http://latimesblogs.latimes.com/money_co/2008/08/gold-market-bul.html

    • ANSWER:
      It's not just happening in Gold. Silver bars smaller then 100oz are difficult to find and have a premium be charged on them because of their small size.

      With the US bail out and the European bail out people are switching what they can into precious metals as a hedge against inflation.

26. QUESTION:
    My Sim has a gold badge in sales, but the promote to manager wont show up? Why wont it show up?

    • ANSWER:
      Make sure to upgrade your computer or clean it up using the antivirus/antispyware program

      Good luck!

27. QUESTION:
    What are Platinum, Gold, and Silver for music? How much sales is that?
    If an album goes Platinum/Gold/Silver, how much is that? Like how much copies sold is each one?

    • ANSWER:
      The RIIA (Recording Industry Association of America) has established the benchmark for a Gold Record as the sale of 500,000 units. Units are defined as sales through retail outlets, record clubs, rack jobbers, and all ancillary markets that legally distribute music. Sales of a million units is recognized by a Platinum Record and, if appropriate, a Multi-Platinum Record. In 1998 the RIAA initiated the Diamond Record awards which honor sales of 10 million copies of an album or single.

      The Silver Record award is also called Diamond, so in this instance it goes after Gold.

28. QUESTION:
    Do Americans have to pay sales and capital gains taxes on circulated gold and silver coins legal tender ?

    • ANSWER:
      Sales tax is dependent upon the state, but many states do not charge sales tax on numismatic items. Capital gains taxes: yes on the gain or loss only.

29. QUESTION:
    How do you go about purchasing gold coins?
    The treasury website offers 1oz gold coins for sale.
    Gold dealers tell me that the treasury sells only something called "proof" coins which are more expensive.
    Can anyone help with this confusion?
    Jim Crow. What the heel are you talking about?

    • ANSWER:
      It depends a bit on why you are buying gold coins. Proof coins are more expensive because they are intended as collectibles. The regular "business strike" coins are intended primarily as bullion.
      If you are buying bullion and don't care about the collectible aspect, most coin dealers will sell you Krugerrands, Canadian Maple Leafs, or US Eagles, all of which contain one Troy ounce of gold and sell for slightly more than the gold spot price.
      Here is one major bullion dealer's current price list, to give you an idea of what is available and at what price:
      https://online.kitco.com/bullion/completelist.html

30. QUESTION:
    Which schedule of ITR-2 to use for showing short and long term capital gains from sale of Gold ETF ?
    Which schedule of ITR-2 to use for showing short and long term capital gains from sale of Gold ETF ?
    A6 for short term gain... What about long term ?

    • ANSWER:
      Schedule CG ( Capital Gains )- A6 of this schedule

31. QUESTION:
    Can a jewelry store sell real diamonds/gold rings on sale?
    For example if the market value of a ring is 00 because of the diamond and gold on it, how can a jewelry store sell it on sale for sale 00?

    Thinking about Kay Jewelers compared to a local jeweler. Kay Jewelers has an anniversary sale so I wonder if its a deal or is the Kay Jewelers stuff a lower quality?

    • ANSWER:
      Most jewelry in jewelry stores is marked up about 200%- or more. Therefore, they can take off quite a bit and still make a profit.

      Diamonds are hard when it comes to pricing. The value has to do with the color, clarity, cut and carat weight. Unless you are an expert, it would be difficult to determine if one diamond is worth more than another. A one carat diamond could be less valuable than a 1/2 carat diamond of a much higher quality.

      Then there is the price of gold. It has gone up recently so if the gold was purchased a few years ago, the jeweler paid a lot less than current price for it.

      This is really a job for an expert - or a jeweler that you really trust.

32. QUESTION:
    yard sales,gold mines for single bachelors?? ?

    • ANSWER:
      yard sales are gold mines for anyone. bachelors love them cause they get cheap furniture and stuff. Moms love them cuz of the baby clothes, etc. women and men love the old furniture and things they can redo and the antiques you can find there.

33. QUESTION:
    Where am I able to find small portions of gold for sale?
    I would like to buy gold but only like 0-500 worth and would like to have the option for smaller amounts also. I do not want a redeemable certificate but physical gold in my hand. I live in South Jersey, if you know a store/shop or website please let me know.

    • ANSWER:
      Ebay is a good place to buy. Just be careful and do not bid too high. Look for 1/10 ounce coins or 1 gr bars. 1gr bars are about each currently. 1/10 coins about 8-3 each.

34. QUESTION:
    How old do you have to be to sale gold canyon candles?
    I want to sale them with my mom but how old do you have to be?

    • ANSWER:
      I know with Scentsy you have to be 18. I think that's pretty standard for a lot of direct sales companies. Maybe your mom can sign up to be the official consulatant and the two of you can be a team. I know there are several husband/wives teams with our company and it works well for them.

      Good luck!

      Lisa

35. QUESTION:
    I want to sale some gold in LOS ANGELES but I don't know where to find a good dealer?
    I want to sale some gold in LOS ANGELES but I don't know where to find a good dealer.
    So if you know let me know
    A.A.

    • ANSWER:
      My pawn shop will give you a good deal. C'mon down to Hollywood and Vines.

36. QUESTION:
    Is the amendment to Rule 114B of the IT act regarding quoting of PAN on invoices applicable only for gold sale?

    • ANSWER:

37. QUESTION:
    Taxes on the sale of Gold and Silver coins?
    I want to sell some old solid gold and silver coins. At what dollar amount do I have to declair this sale on my next year taxes. The sale will probably be less than 0.
    Thanks

    • ANSWER:
      If you are filing a return, then you'd have to declare the sale if the sale price is higher than whatever you paid for them in the first place. The sale would be treated as collectibles gain, so would be taxed at a different rate than other capital gains.

38. QUESTION:
    How can I get the most money for my gold?
    I have a few ounces of 24 Karat gold for sale. 24K gold spot price is currently ,400 an ounce but many of these sealers only want to rip me off by offering 450-900 an ounce for my gold. Are there any buyers whio pay in the ballpark of 10 or 15 percent below spot price. I understand they need to make a profit but not by ripping me off

    • ANSWER:

39. QUESTION:
    Know anyone who has worked at Gold's Gym? Are their sales goals unrealistic?
    I have worked in the fitness field for over two years and recently offered a job at Gold's. Before I take it, I want to know how realistic it is to be on call for 50+ hours a week between 9am-9pm and still reach my quota of 125 memberships a month.

    • ANSWER:
      I know someone personally who worked at Gold's Gym who was able to sell 30 memberships a day. I kid you not. And I am not saying that you need to do that. But if you break it down, if you average 5 memberships a day during the week, then you will meet your quota. The way my friend was successful was by first becoming a walking billboard of fitness. Then he learned about his product really well. And lastly, he was really creative in applying his knowledge and had fun with it. It boils down to you feeling comfortable with selling that many memberships. And know this, sales is a learned skill like any other.

40. QUESTION:
    where do I sale my raw gold and diamond?
    I have about 4 Pound of gold and some diamond to sale. Could someone tell me how to find a buy? Thanks.

    • ANSWER:
      Uh -huh.

      4 pounds (avoirdupois) would be approximately 48 troy ounces, spot price of 24K gold is currently 3.50 US/ Troy ounce, so if your gold is 18K, for example we get 3.50 * 48 * 18/24 = ,600 at spot.

      I have no expertise in diamonds, you may have to talk to a jeweler.

      There are people on the web who pay cash for scrap gold, but be advised they generally pay well under spot prices.

      What form is the gold in? Coins or bars are much more easily sold than scrap.

      Grandpa

41. QUESTION:
    Did The Games album LAX go platinum or gold and what are the sales of it?

    • ANSWER:
      It's Gold at the moment ...

      "According to the XXL magazine's website, LAX has sold 723,423 copies as of April 09.[22]"

42. QUESTION:
    I want to buy and sale Gold in the Gold Market as Investment ?
    I want to know where i can learn & the best way to buy and sale and is it a good investment or not .. Thanks

    • ANSWER:
      No it's not a good investment! How do you value gold? It doesn't have earnings, a balance sheet, income statement, or cash flows. So how do you value it?

      You are just guessing and although there will be 20 investors here that will disagree with me because they made money, traditionally it is not a good investment.

      Look for a good stock instead. You can make more informed decisions.

43. QUESTION:
    sales of gold bars...?
    procedure they follow in accquiring and selling the gold bars through banks

    • ANSWER:
      I am not aware of any banks that acquire or sell gold bars. Bullion sales are done by coin and precious metals stores. You walk in and tell them what you want, and they sell it to you at retail prices.

      You decide the price has gone up enough to make a profit and you walk in to the coin and precious metals store and tell them you want to sell the bars. They will buy them at Whole Sale Prices.

      Since you buy bullion at retail and sell at whole sale prices, the bullion needs to go up considerably before you can make a profit.

44. QUESTION:
    Sales of Gold?
    I have some gold jewellery (22K and 24K gold) which I do not want. Do you know of anywhere in Singapore where I can sell them into cash??

    • ANSWER:
      Go to Little India, where the place is crawling with gold merchants. The merchants sell gold by weight plus a margin for the jewelry. But when they buy, they just buy according to weight. Do not expect to get anything back because it is jewelry. Also, you won't get as good a price as the "buying" price of gold. However, you'll still recover a good part of your gold value.

45. QUESTION:
    Rock band that is 3rd in consecutive gold or platinum record sales?
    source Wikipedia

    • ANSWER:
      Rush

46. QUESTION:
    Gold, platinum.................cd sales?
    Let's talk about this.
    Okay so 500,000 is gold.
    And then 1,000,000 is platinum.
    And then 2,000,000 is double platinum...
    And then 3,000,000 triple platinum?
    would that just continue?

    And then once it gets to 10,000,000 (which is a lot, holy crap) it's something different, yes? But what?

    And is that where it ends?

    • ANSWER:
      I believe when it reaches 2 million or more, it's just considered multi-platinum.

47. QUESTION:
    I want to find a place where have wow gold for sale,wow gold kaufen,wow gold sale,wow gold sell?
    I want to find a place where have wow gold for sale,wow gold kaufen,wow gold sale,wow gold sell?

    • ANSWER:
      hi,dear friend,i tell you a wonderful wow gold website:
      http://www.igoldc.com
      this is a cheapest wow gold website, and the server is excellent!
      you can buy not only wow gold,but also guild wars gold,
      ranscape gold,and other game gold,world of warcraft leveling,in one world,there are many surprise waiting for you,welcome*_*

48. QUESTION:
    what stores in atlanta sales the product gastric gold or aloe elite?

    • ANSWER:
      i do not know

49. QUESTION:
    Why gold Jewellers dont pay any sales tax and income tax?
    The gold Jewellers are the black money source. they never pay the real income tax and sale tax any time. there is no raid on them why?????????? political? do they give money during election. andno money to public funds. shame. they dont give receipt of purchase to the customer saying that you have to pay extra. customer to save money keeps quite and that goes to black money. when the govt will wake up for them

    • ANSWER:
      Maybe you can clear up which country you are talking about. In the US they are subject to the same taxes as everyone else, profession does not effect the IRS, they could care less if they sell gold or turtles, taxes are the same.

50. QUESTION:
    Do you need a license to act as a broker in the sale of gold?

    This is a sale that would be conducted off of the exchange.

    • ANSWER:
      Yes

      But you can sell your own gold without a licence