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Thread: Selling silver for profit

  1. #21
    Iridium
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    Re: Selling silver for profit

    Hi Zodoga, welcome to the forum. Sounds like you've got a good plan for an exciting future. One thought, I just figured I'd throw your way, is a career where you are physically active doing exciting things might help with your PTSD. Being physically challenged means less time sitting at a desk.

    Here in CA, local 3 operating engineers union is in desperate need of people. I'm told if you have a hard hat, they put you to work tomorrow. The job is a great career, retire after 30 years full benefits, a salary well over $100K a year. I know a lot of local 3 guys, and they are good people. You build things and repair things, and it's a good feeling being a part of something so productive.

    While you might not be in CA, this type of work you may find rewarding. I only mention it, because everyone pushes white collar degree jobs and the market is flooded with young people with degrees, but often no jobs due to oversupply. Meanwhile, blue collar work needs people.
    life is good.

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    Iridium monty's Avatar
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    Re: Selling silver for profit

    Quote Originally Posted by Hitch View Post
    Hi Zodoga, welcome to the forum. Sounds like you've got a good plan for an exciting future. One thought, I just figured I'd throw your way, is a career where you are physically active doing exciting things might help with your PTSD. Being physically challenged means less time sitting at a desk.

    Here in CA, local 3 operating engineers union is in desperate need of people. I'm told if you have a hard hat, they put you to work tomorrow. The job is a great career, retire after 30 years full benefits, a salary well over $100K a year. I know a lot of local 3 guys, and they are good people. You build things and repair things, and it's a good feeling being a part of something so productive.

    While you might not be in CA, this type of work you may find rewarding. I only mention it, because everyone pushes white collar degree jobs and the market is flooded with young people with degrees, but often no jobs due to oversupply. Meanwhile, blue collar work needs people.
    Hitch, you might add the Operating Engineers do have good apprenticeship traing programs.
    The only thing declared necessary in the Constitution & Bill of Rights is the #2A Militia of the several States.
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    Hitch (29th November 2017)

  5. #23
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    Re: Selling silver for profit

    Quote Originally Posted by monty View Post
    Hitch, you might add the Operating Engineers do have good apprenticeship traing programs.
    Thanks monty, their apprenticeship program teaches new members how to weld, operate equipment such as loaders, bobcats, and even cranes. Crane operators makes some very good money. The whole time the new member is being paid and working. It's a very good program. Typically OE folks stay working their whole career, and retire very comfortably.

    For the record, I'm not in this union, but I do work closely with them. From talking to them, they need people. The union hall seems to be empty for the time being (everyone's working). Either that, or everyone's going into massive debt to chase college degrees because that's what the media says you should do.
    life is good.

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    Re: Selling silver for profit

    Is there a guide somewhere for this?

    If I buy 100ozt of silver at $20/oz and sell it for a loss at $15/oz I realize no capital gains, do I still pay taxes on the sale? What if someone gifts me some silver and I sell it, how are taxes calculated? If I paid cash for some silver from someone and sell it later to a bullion shop, how do I report profit without receipt?

    In a perfect world I'll pass my Ag to my children when I pass away but the time may come when I need to liquidate for unseen reasons.
    everything we learn changes that which we know to be true

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    Re: Selling silver for profit

    I do share one of my little secrets. Check if near you is a small refinery located. I do buy silver rounds for spot +2% from my local gold and silver refinery. They are happy to avoid melting and I'm happy to get silver for a great price. The business where I go sends me an email when they get new nice stuff in. I go there approx every other week. Give it a try.

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    Re: Selling silver for profit

    Quote Originally Posted by Hitch View Post
    Here in CA, local 3 operating engineers union is in desperate need of people. I'm told if you have a hard hat, they put you to work tomorrow.
    Wow, that's hard to believe. When I was an Operating Engineer (Local 450 - crane operator) there were 100's of people trying to get in, and it took years or connections to get an Oilers job. Most of the work in Texas went non-union after Reagan.Union jobs are hard to come by these days.

  9. #27
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    Re: Selling silver for profit

    Quote Originally Posted by Hitch View Post
    Hi Zodoga, welcome to the forum. Sounds like you've got a good plan for an exciting future. One thought, I just figured I'd throw your way, is a career where you are physically active doing exciting things might help with your PTSD. Being physically challenged means less time sitting at a desk.

    Here in CA, local 3 operating engineers union is in desperate need of people. I'm told if you have a hard hat, they put you to work tomorrow. The job is a great career, retire after 30 years full benefits, a salary well over $100K a year. I know a lot of local 3 guys, and they are good people. You build things and repair things, and it's a good feeling being a part of something so productive.

    While you might not be in CA, this type of work you may find rewarding. I only mention it, because everyone pushes white collar degree jobs and the market is flooded with young people with degrees, but often no jobs due to oversupply. Meanwhile, blue collar work needs people.
    I was going to college to be an electrician (2 year program). I started the program a while back and I didn't fail out or anything. I started a new treatment program though which I had to kind of do as a full time job in the beginning. I had to really focus on my mental health during that time. It gave great results and I'm glad it worked out (all the time I wasted with the VA). After a while of doing it I don't need to put so much time into it now. I just moved and have been super busy with my treatment and moving. Things are starting to die down though now. I'm planning on returning to start working towards my degree again here in the next year. Most likely fall of 2018. I feel I should be at a really good point by then and ready to continue.

    Quote Originally Posted by Silver Rocket Bitches! View Post
    Is there a guide somewhere for this?

    If I buy 100ozt of silver at $20/oz and sell it for a loss at $15/oz I realize no capital gains, do I still pay taxes on the sale? What if someone gifts me some silver and I sell it, how are taxes calculated? If I paid cash for some silver from someone and sell it later to a bullion shop, how do I report profit without receipt?

    In a perfect world I'll pass my Ag to my children when I pass away but the time may come when I need to liquidate for unseen reasons.
    1. Your first part you pay taxes on originally purchasing it. If you have losses I don't see why you would pay taxes. You'd count it as a loss in your taxes (I believe). I'm not 100% sure here.

    2. There are ways of doing gifts. It depends on the relationship of the family member I believe. This probably has to do with a certain amount as well. I've seen that you can receive $10,000 as a gift tax free. I'm not 100% sure how this all works. I wouldn't personally worry about this unless it was over a $1,000 or so.

    3. I have no clue on the third part. I'm wondering on this as well.

    I can't really help you to much. Might be better to start your own thread and ask. I don't know how many people will see it on the 3rd page here.

  10. #28
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    Re: Selling silver for profit

    Quote Originally Posted by TroyOz View Post
    Wow, that's hard to believe. When I was an Operating Engineer (Local 450 - crane operator) there were 100's of people trying to get in, and it took years or connections to get an Oilers job. Most of the work in Texas went non-union after Reagan.Union jobs are hard to come by these days.
    Out here in CA we have local 3, Operating Engineers. It is a very hard union to get into, but what happened earlier this year we had the Orville damn failure. That depleted the union hall. I got put on a local 3 job at the time, even though I'm a different union, to fill a spot because the super requested me and they couldn't get a local 3 guy. Then, later this year, on another job a local 3 guy got fired and they couldn't find a replacement from the hall. They had nobody. They asked us if we had anyone we'd recommend, they could start the next day. It took 2 weeks to replace the lost worker, and the new guy drove 1500 miles to take the job. Nobody local.

    You might not like to hear this....but local 3 is even starting new guys at full rate. Usually it took 3 years to get full pay, you had to get through the apprenticeship program and get bumped up. Now, out here, guys are walking in day 1 with full rate. It's wild, but a great time to get into the Operating Engineers out in California, at least.

    Anytime I hear some moron complaining about the lack of jobs, I tell them to go, now, to the union hall or forever shut up about it.
    life is good.

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  12. #29
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    Re: Selling silver for profit

    Quote Originally Posted by TroyOz View Post
    Wow, that's hard to believe. When I was an Operating Engineer (Local 450 - crane operator) there were 100's of people trying to get in, and it took years or connections to get an Oilers job. Most of the work in Texas went non-union after Reagan.Union jobs are hard to come by these days.
    In 1970 when I wanted to join Local 12 the waiting list was miles long also.
    The only thing declared necessary in the Constitution & Bill of Rights is the #2A Militia of the several States.
    “A well regulated militia being necessary to the security of a freeState”
    https://ConstitutionalMilitia.org


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  14. #30
    Electrum TroyOz's Avatar
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    Re: Selling silver for profit

    Quote Originally Posted by monty View Post
    In 1970 when I wanted to join Local 12 the waiting list was miles long also.
    In 1974, when I applied at the hall, the Business Agent told me (as he pointed to a stack of papers 3 feet tall) that was how many were in front of me. I kinda sighed and he said, but, I never see them again after they made their application. I took that as a signal and started showing up in the hall early in the morning to have a coffee with the BA before I had to be at my job. It turned out to be a good move - after a couple of months, I got a call to come to hall and pick up slip for a job at a refinery construction site.

    I was working as a framer building hotels rooms at $2.10 an hour (minimum was $1.65). The oiler job paid $5.55 an hour plus heath insurance and retirement contributions. I was giddy. Within 2 years I was running the crane myself (pile driver at a tank farm site) and making $9.10 an hour. That was good money in 76'.

    After most of the work went to Brown and Root and other non-union companies in the industrial construction sector, I went a different direction. For a tradesman, nothing is better than Union.

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