Excellent video and a Happy New Year 2025!!! 👍 Also thanks for the new tax reporting guidelines update, makes things in our business much easier to say the least. One question, why just 5K on checks....am I missing something? Have a great year Brian and Tim, hope to meet you guys and see your shop one of these days before I kick the bucket.........Life is good.......God Bless
Happy New Year to all of you. This is great information. Thank you for the video. I know you guys know who I am, I have bought from you... Seriously, I am going to drive up one of these days, and say hello....
Happy New Year fellas. I enjoy your channel and gold/silver market insights and have ordered a few times over the last year, but won't be able to get any where close to your minimum amount of 999 silver or 90% for mail orders now. 😢 I will still be watching tho. Best of luck in 2025! Cheers tony
Same here -- have purchased a lot of silver from you in the past, but won't be able to meet the new minimum purchase size. Wish you could explain the reason for the change.
Electronic Ach processing and you would get all my business. Not sure I want to mail a check and wait weeks for my order. I understand it would be a challenge to get in place but I imagine there are many in my position. I appropriate your simple and very fair pricing!
Excuse me but I'm confused about something so I went back and replayed the part about shipping on 90% silver. You said the minimum order to qualify for shipping per se (not just free shipping) was $150 face. Assuming a premium of 0.50 over spot, that's about $21.45 x face, meaning the minimum purchase would be about $3217 in order for this material to qualify for shipping out the door. Is that right or am I missing something? If so, that's a bridge too far for me on the junk 90 but I'll remain for the gold and other silver products.
@@vermillionenterprisesso if i wanted 3 tubes of silver eagles its a no go for you to ship it out to me? or are you saying if its less than a 100ozs that i have to pay for shipping?
Great news! These amounts seem really fair and understandable it's based on metals used in futures transactions only. I wonder then if this will reduce the premium on American Gold Eagles which I think people used to buy because the reporting requirements in the past were thought to be different.
@@vermillionenterprises Yeah, I could see that, I wonder if it might soften demand though in favor of other coins since now AGE doesn't have a special status as far as reporting.
At 17:25 you say that you will take checks on orders up to $5k, but at 18:09 you say the minimum order to take a check is $5k. I assume this was a slip of the tongue and that you meant minimum order of 1 oz of gold or 100 oz silver, up to a total price of $5k, correct?
With the new buying minimums for gold/silver mail orders (~$3000) and the sending limits on zelle ($1000/day), can we pay by zelle over several days or are mail orders going to have to send wire transfers? Have you considered taking ACH/E-Check payments and waiting for it to clear? That's the preferred payment method for most bullion dealers I order from.
I called my bank and had Zelle limit raised to $2000 day $1000 per transaction. I sent then 2 $1000 Zelle’s and 1 $500 Zelle payment next day without issue
Question for the experts. Could the reporting changes have an unexpected result of adding pressure to reduce premiums for American bullion coins vs. the foreign bullion coins?
@ That’s what I’ve read. Makes me curious, because they test out fine on my Sigma Investor. But just as you always say, “it is what it is.”😊 I’ll call first as I live far away. Love your straightforward channel.
Happy New Year. So my question is, if I buy a few numismatic coins and pay the $14 for USPS shipping, could I add less then $150 face value junk silver (or a tube of ASE’s) to my order? I’m not looking for a way to circumvent your new process, but rather help you clarify on this hypothetical, because someone will undoubtedly ask the same question at some point.
I was going to ask a similar question. My situation would be something more akin to purchasing a 1 oz. gold coin. If so, could I supplement the same order with less than $150 face of junk silver, and what would that junk 90 minimum then be?
@@silverstormienormie6146 Maybe you're 100% right. Or maybe the OWNER may decide to modify his policy to accommodate his customers (now or perhaps later). Either way, let's wait and hear what the OWNER says.
If silver did a massive run up in price and everyone went running to coin dealer to sell will coin shops have enough cash for this? Would coin dealers just say no I don't want the silver?
Bummer on the new parameters for shipping, though I certainly understand and they are not unreasonable at all. Fortunately, the junk silver purchase minimum ($150 face value) and the check maximum ($5,000) will still allow me to pay by check, which I know is a pain for you. But rest assured I don't care how long things take to process the order since you have the best prices. All it means is I'll have to save up more before I can make an order.
@@vermillionenterprises Oops! My math is all screwed up! Sorry! Hadn't had my morning coffee here on the west coast. I will cancel or heavily edit my original message.
And of course, it should be stated that this does not change tax filers obligation to self report any profits regardless if they received a 1099 or not. People need to understand that they are still responsible and the decision to not report is on them. Great news for the business however. Cheers!
That is the IRS reporting requirements for dealers. However, other shops may handle it different -- you would want to ask them. Also, states can have their own laws as well.
If you’re not Long Silver and Gold you’re going to be Shutout of the metals market. 36 Trillion in public debt and 3 Trillion Dollar Budget Deficits is all you need to know. Once the obvious Dollar Debasement that is soon to follow becomes known by the general public Metals will be bought up en masse and will soon become unobtainable.
"The LORD is my rock, and my fortress, and my deliverer; my God, my strength, in whom I will trust; my buckler, and the horn of my salvation, and my high tower." Psalms 18:2 KJV
Watch this video before calling the shop.
@SuzanneRaski Thank you for watching
Thanks for the update! Good to know, as is all of the information you give us.🙂
@@jurisklavins2578 thank you for watching
This is why I keep saying this is the best formation you can get every week. Ones again thanks guys. Happy new year.
I appreciate it
Thanks for the information on the tax when people want to sell their metals it is definitely appreciated.
Thank you for watching
Well done guys. Happy New Year 👌
Thank you for watching, we appreciate it
The free shipping is a great thing just save up your money and you can't go wrong.
yes sir
Excellent video and a Happy New Year 2025!!! 👍 Also thanks for the new tax reporting guidelines update, makes things in our business much easier to say the least. One question, why just 5K on checks....am I missing something? Have a great year Brian and Tim, hope to meet you guys and see your shop one of these days before I kick the bucket.........Life is good.......God Bless
great question about checks....like cc they can be clawed back up to 180 days, so that is all i am willing to risk
Good info
Thank you for watching
Wow. Great stuff. Thanks fellas. 👍👍
Thank you for watching
Wow! I never ordered before but will definitely get some 90% soon!
we appreciate it
Great information! Thank you.
Thank you, much appreciated
Happy New Year. Congratulations on the 1099B ruling. Wish you a very prosperous year.
Thank you sir, we appreciate it
Welcome Back! Missed your market updates through the Holidays...i guess im addicted... 😂
Thank you for watching
THANKS FOR ANOTHER GREAT VIDEO, AND HAPPY NEW YEAR TO YOU AND YOUR TEAM.
Thank you for watching
Thank you for this presentation.
Thank you for watching, very much appreciated
Good info, Thanks brother. Happy New Year.
Thank you for watching, greatly appreciated
Happy New Year! Awesome changes!
Thank you for watching....Happy New Year
Man, the day I can afford 3kilos of gold I will personally drive down to the store, starbucks all around
Even one kilo at 35.27 ounces of gold is pretty mind boggling, if my math is ballpark
I am rooting for you
@@Cougelly1999 32.15ozt
@@vermillionenterprises Oh forgot to key in the Troy ounces, that's 32 St. Gauden's or there abouts
Thanks for sharing the IRS info. Happy New Year
Good video with great information !!!
Happy new year guy’s and staff !!!!
🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸
Thank you for watching
Happy New Year to all of you.
This is great information.
Thank you for the video.
I know you guys know who I am, I have bought from you... Seriously, I am going to drive up one of these days, and say hello....
we appreciate it
Happy New Year fellas. I enjoy your channel and gold/silver market insights and have ordered a few times over the last year, but won't be able to get any where close to your minimum amount of 999 silver or 90% for mail orders now. 😢 I will still be watching tho. Best of luck in 2025! Cheers tony
Thank you we appreciate you watching
Same here -- have purchased a lot of silver from you in the past, but won't be able to meet the new minimum purchase size. Wish you could explain the reason for the change.
Good breakdown on policy, looking forward to doing business with you, thanks.
We appreciate it
I like the new shipping policy 👍
Thank you for watching
That is awesome about the tax rules now
absolutely
Electronic Ach processing and you would get all my business. Not sure I want to mail a check and wait weeks for my order. I understand it would be a challenge to get in place but I imagine there are many in my position.
I appropriate your simple and very fair pricing!
Thank you for watching, that maybe the next step for us, but just not setup yet
Only takes 3 /5days to mail✌
Great PSA
Thank you for watching, very much appreciated
this was helpful. thank you.
Thank you for watching
That's awesome
Thank you for watching
FYI - NJ is no longer collecting sales tax on precious metals purchases over $1000, effective 1/1/25 - expect increased sales from this direction. 💲😎
nice...glad to hear, i wish Florida would follow suit
About time. They are one of the highest taxed Eastern states. Know people that moved out of NJ to Pa because they tax Social security & pensions.
Worked 16 years in smelly pig farming South Jersey location. Only good thing about South Jersey is summer best in class tomatoes.
I was always suspicious of the 1099-b requirements because when I searched for them they never showed what was industry standard.
it has always been very murky, now thankfully we have transparency
Great news on the federal tax laws on bullion.
Yes Sir...we appreciate the viewership
Excuse me but I'm confused about something so I went back and replayed the part about shipping on 90% silver. You said the minimum order to qualify for shipping per se (not just free shipping) was $150 face. Assuming a premium of 0.50 over spot, that's about $21.45 x face, meaning the minimum purchase would be about $3217 in order for this material to qualify for shipping out the door. Is that right or am I missing something? If so, that's a bridge too far for me on the junk 90 but I'll remain for the gold and other silver products.
didnt do the math, but yes that would be pretty close just over a 100 ozt
@@vermillionenterprisesso if i wanted 3 tubes of silver eagles its a no go for you to ship it out to me? or are you saying if its less than a 100ozs that i have to pay for shipping?
@@cesarzulueta171 thank you for watching, minimum order is 100 ozt for silver
Happy New Year!
@@72cmcinc Happy New Year
Great news! These amounts seem really fair and understandable it's based on metals used in futures transactions only. I wonder then if this will reduce the premium on American Gold Eagles which I think people used to buy because the reporting requirements in the past were thought to be different.
I’m wondering if this could drive up the premium on Maples? A lot of folks love them but avoided it for this reason.
Thank you for watching, i think the AGE premiums are here to stay because I believe the US mint is charging 2.25% or there about to the distributors
@@thepoliticallyindependent1512 maybe time will tell
@@vermillionenterprises Yeah, I could see that, I wonder if it might soften demand though in favor of other coins since now AGE doesn't have a special status as far as reporting.
At 17:25 you say that you will take checks on orders up to $5k, but at 18:09 you say the minimum order to take a check is $5k. I assume this was a slip of the tongue and that you meant minimum order of 1 oz of gold or 100 oz silver, up to a total price of $5k, correct?
With the new buying minimums for gold/silver mail orders (~$3000) and the sending limits on zelle ($1000/day), can we pay by zelle over several days or are mail orders going to have to send wire transfers? Have you considered taking ACH/E-Check payments and waiting for it to clear? That's the preferred payment method for most bullion dealers I order from.
I called my bank and had Zelle limit raised to $2000 day $1000 per transaction. I sent then 2 $1000 Zelle’s and 1 $500 Zelle payment next day without issue
yes no problem multiple zelle payments, considering ACH however we are not there yet
@@jamesitsines6890 we appreciate the business
Question for the experts. Could the reporting changes have an unexpected result of adding pressure to reduce premiums for American bullion coins vs. the foreign bullion coins?
When You say Check is that only Personal? Do you take Deluxe Echeck?
yes personal checks
Happy New Year and thanks for the updates!
Thank you for watching
For junk 90%, would a form still be generated if buying/selling over $10,000 worth because of the regular $10k cash rules?
Great news. Great explanation too.❤
Thank you for watching
Wow, lots of big changes. That's fantastic about the reporting requirements. Thanks so much for the updates!
It is great news
Hmmm... It's almost like the powers that be REALLY want everyone to sell their precious metals
I did not think of it like that. This is a great point
Definitely
Does not seem that way where I am. Just stagnant.
They want them to sell their precious metals and buy bitCON 😂
Nice update!
Thank you for watching
But your bank can still flag you if you deposit a $34,000 check from a coin dealer correct
no idea that would be a question for your bank
I never had a problem with it.
@@Johnsmith46392 us either
If I have 2 kilo bars of Gold and decide to sell both of them to you, it would NOT trigger the 1099-B form?
correct
Your great service to the stacking community is greatly appreciated Have a Wonderful 2025 !
Thank you for watching
Will you vermillion enterprises be accepting the Florida goldbacks for payment
as of now no...i am still waiting to hear from the distributor with an updated contract
Which carrier will you be using to ship $150 face junk silver? I ask because I can only receive from UPS or FedEx at my shipping address.
Fedex
Mel Gibson and Danny Glover will be backing the Kruegerand truck up
LOL...Mr. Joshua
Do you pay cash for one-ounce gold bars sealed in assay? RCM and PAMP Fortuna.
depends...but all gold bars are removed from packaging to verify before we pay
@ That’s what I’ve read. Makes me curious, because they test out fine on my Sigma Investor. But just as you always say, “it is what it is.”😊 I’ll call first as I live far away. Love your straightforward channel.
@@Bobber002 thank you we appreciate it
150 face is quite the order. I get it though, reducing overhead. Counting out 40 halves packing and shipping over and over can eat into the margins
it appears to be about the average order we fill, so it seems to be a nice fit
I get it too. They take orders from all over the country, and it makes sense to not get overwhelmed by too many smaller transactions.
@@swilliams937 we appreciate you watching
Happy 25!!
Happy New Year. So my question is, if I buy a few numismatic coins and pay the $14 for USPS shipping, could I add less then $150 face value junk silver (or a tube of ASE’s) to my order? I’m not looking for a way to circumvent your new process, but rather help you clarify on this hypothetical, because someone will undoubtedly ask the same question at some point.
I was going to ask a similar question. My situation would be something more akin to purchasing a 1 oz. gold coin. If so, could I supplement the same order with less than $150 face of junk silver, and what would that junk 90 minimum then be?
Ummmmm.... unfortunately NO. He firmly said that the minimum they will ship is 100 ozs .999 or $150 FV of junk!
@@silverstormienormie6146 Maybe you're 100% right. Or maybe the OWNER may decide to modify his policy to accommodate his customers (now or perhaps later). Either way, let's wait and hear what the OWNER says.
@@INTERNETVID 👍🏽 some clarification from Vermillion Enterprises would be helpful.
@@INTERNETVID 👍
"....brought to you by Core Bottled Water." lol
LOL...i need that sponsorship
They want it all turned in guys
Sheriff’s OFFICE….not a department. It’s an elected office.
We got the new rules, but not an updated price list
Monday, but no real changes
Welcome back guys.
thank you for watching
Will Tim be manning a table at the FUN show in Orlando next week?
no we do not attend shows...to busy in the shop
Silver Eagles. What about silver eagles?? Do I have to report the sale of Silver Eagles?
If silver did a massive run up in price and everyone went running to coin dealer to sell will coin shops have enough cash for this? Would coin dealers just say no I don't want the silver?
time will tell
what about ach or e-check
Thats great news on tax 1099.
yes....thank you for watching
I knew your “wholesale” pricing could not last for “retail customers”
still wholesale pricing just now with increased minimums
So minimum 100 ounces of silver? This means no more of the flash sale videos?
not necessarily, but flash sales kind of went away when the premiums died
Bummer on the new parameters for shipping, though I certainly understand and they are not unreasonable at all. Fortunately, the junk silver purchase minimum ($150 face value) and the check maximum ($5,000) will still allow me to pay by check, which I know is a pain for you. But rest assured I don't care how long things take to process the order since you have the best prices. All it means is I'll have to save up more before I can make an order.
$150FV is below $5000?
@@vermillionenterprises Oops! My math is all screwed up! Sorry! Hadn't had my morning coffee here on the west coast. I will cancel or heavily edit my original message.
@@Rufferto12 no worries, thank you for watching
So no more shipping out 20 oz silver tubes have to purchase 100oz or more
correct
Good news.
Thank you for watching
And of course, it should be stated that this does not change tax filers obligation to self report any profits regardless if they received a 1099 or not. People need to understand that they are still responsible and the decision to not report is on them. Great news for the business however. Cheers!
Great info
You used to recommend US bullion based on the fact there was no tax reporting. I guess this is no longer a benefit with the new 1099 rules?
correct
so if your not spending 3k, then you cant order? seems like the smaller purchaser is out of luck.
Please watch our latest video.
Remember what happened last time they wanted all gold! The price exploded
Is this a national rule or just Florida?
IRS is a Federal department, so that would be NATIONAL reporting requirements.
That is the IRS reporting requirements for dealers. However, other shops may handle it different -- you would want to ask them. Also, states can have their own laws as well.
@@percyblok6014 correctr
Sigh. A breath of fresh air…
Thank you for watching, we appreciate it
So small fry go away. Nothing to see here anymore.
Dor the algorithm
Meanwhile in utah still have to sit on scrap for 30 days
same here 30 day hold on all scrap gold and silver
taxes and death
If you’re not Long Silver and Gold you’re going to be Shutout of the metals market. 36 Trillion in public debt and 3 Trillion Dollar Budget Deficits is all you need to know. Once the obvious Dollar Debasement that is soon to follow becomes known by the general public Metals will be bought up en masse and will soon become unobtainable.
Eat the billionairs
time will tell
"The LORD is my rock, and my fortress, and my deliverer; my God, my strength, in whom I will trust; my buckler, and the horn of my salvation, and my high tower." Psalms 18:2 KJV
Your glitchen some
must be your internet, no issues watching here.....
all good here