The Outliers

173
Mon, Feb 24, 2014 - 8:31am

In any naturally occurring population there is some degree of variation between individuals within that group. When the variation is genetic, then the subtle differences between individuals can sometimes equip a few of them to survive better than others- for example, a small number of moths born with slightly more pigmentation of a color which makes them harder to spot by predators. If that difference has enough of an effect on their inclusive fitness to allow them to pass on their genes differentially, then that trait will be slightly more common in the next generation. If this happens for a long enough period of time, the entire nature of the population will change. This is what is familiarly known as natural selection.

This dynamic is not confined only to genetic inheritance, and in some cases can apply to variations in behavior as well. Within any large group of individuals there will be a wide range of differences in behaviors, values, goals, comportment, strategies, etc. Find something that people do, and if you study it closely enough you will quickly realize that there is great variety in how different individuals choose to go about doing that thing. Some may even choose not to “do that thing” at all! What is interesting is that, through the exceptional power of our brains, human beings do not have to wait for thousands of years for these differences to slowly work their way through the genetics of the population- if they can observe that behavior X is beneficial to those who have adopted it, they can also choose to adopt it, often with great rapidity. When large numbers of people suddenly start doing something that only a few had done previously, this is called a preference cascade.

A preference cascade is a uniquely human phenomenon. It happens, in part, because we are NOT purely rational actors, always weighing costs/benefits and choosing based on this analysis. Instead, we are intensely social creatures and tend to be influenced to a great degree by what others around us are doing. In normal times people look around, observe how most others are behaving, and copy that behavior themselves. This usually works fairly well as an adaptive strategy because the totality of individuals can usually be assumed to be doing just fine, so if we do what they do, we assume we will be just fine too. Additionally, activities that are perceived to be outside the mainstream often carry a degree of social or cultural stigma, thus imposing some costs on the people who adopt them – there are significant negatives to being perceived as the “weirdo” because you are behaving differently or deviating from the accepted. So most people just do the “usual” thing and don’t think much about it… right up until they observe their peers suddenly doing something differently. Then they quickly perceive not only that it is “OK” to do that thing but they also will not be acting alone if they do it, and a preference cascade ensues.

University of Tennessee Professor Glenn Reynolds has written about the phenomenon of the preference cascade over the years, and in this article he gives two interesting examples of it in action. Reynolds writes:

(Prior to 911), the people who didn't have flags on their cars weren't necessarily unpatriotic - but displaying a flag on one's car was associated with particular political and social categories that aren't especially popular on campuses. After 9/11,enough people started flying flags to make other people feel safe about doing it too. Now you can see a lot of flags on the cars in that garage. Have people become more patriotic? Maybe. But more likely they've just become more willing to show it. This illustrates, in a mild way, the reason why totalitarian regimes collapse so suddenly. Such regimes have little legitimacy, but they spend a lot of effort making sure that citizens don't realize the extent to which their fellow-citizens dislike the regime. If the secret police and the censors are doing their job, 99% of the populace can hate the regime and be ready to revolt against it - but no revolt will occur because no one realizes that everyone else feels the same way. This works until something breaks the spell, and the discontented realize that their feelings are widely shared, at which point the collapse of the regime may seem very sudden to outside observers - or even to the citizens themselves. Claims after the fact that many people who seemed like loyal apparatchiks really loathed the regime are often self-serving, of course. But they're also often true: Even if one loathes the regime, few people have the force of will to stage one-man revolutions, and when preferences are sufficiently falsified, each dissident may feel that he or she is the only one, or at least part of a minority too small to make any difference.

Understanding the dynamics behind the preference cascade is particularly important for gold and silver. If we think about the behavior that we call investing, we can quickly discern that at present, people who place a portion of their savings into physical gold and silver are “Outliers” in terms of investing behavior among the general public. The vast majority of people who invest do so in equities (through 401k’s, trading accounts, mutual funds, etc), and many own bonds or own funds that invest in bonds, as well. The idea of investing your saved wealth in physical gold and silver outside the system is still a practice that is comparatively rare. This makes all of us at TFMR unusual exceptions to the norm… we are the odd outliers within the larger population of investors.

So far so good… but I think a key insight comes from understanding WHY there are a comparatively small number of gold and silver investors, and more precisely why such an outstanding, traditional investment vehicle is now considered so outside the mainstream. When one considers how precious metals are portrayed and discussed, however, it makes perfect sense, particularly when one thinks about who, precisely, controls that mainstream narrative. You can tell what a power structure fears most by observing the energy and resources they deploy against that thing, and the ‘thing’ the fiat currency regime fears most intensely is a preference cascade to real money.

Consider the vast array of resources deployed today against gold and silver investing. First, we see a regular drumbeat of negative articles, the full weight of the mainstream financial media and legions of writers on financial websites brought to bear to convince people NOT to buy gold and silver. We see variations of the same hackneyed articles year in and year out, regardless of the state of the markets or the price. These constant attempts at shaping opinion and sentiment employ misleading arguments, ignore contrary evidence, and use every rhetorical trick in the book to convince people that gold and silver are “risky” and “speculative” (Anatomy of an MSM Hit Piece on Gold), when the reality is that they the most historically stable stores of value known to man. We also see mainstream brokerage houses issuing sell recommendations year after year, for assets which ironically they never told their clients to buy in the first place (It’s Never a Good Time to Buy Gold). All of these operate within a conventional milieu of financial advisors emphasizing “traditional investments” (i.e. fiat based, fiat supporting) while going out of their way to dismiss gold and silver – think Berkshire Hathaway’s Charlie Munger claiming “Civilized people don’t invest in gold” for a fairly standard example. If you think about the totality of the effort used to try and manage the public perception of gold and silver, you start to get a sense of just how intensely these things are feared by the Fed/Finance/Political regime.

But wait, there’s more! Consider, too, the extraordinary energy and enormous wealth deployed against the price of gold and silver over time. Look at the long history of price suppression, from the known and historically established facts of the London Gold Pool (link) to the extraordinary actions of the last five years (The Golden Ostrich, Chris Powell speech on price suppression). I think people in the general public would be shocked at the sheer amount of effort, the degree of secrecy employed, and the vast amount of wealth expended towards suppressing PM prices over time. This, above virtually everything else, makes it crystal clear what an enormous threat that a large-scale adoption of gold and silver by the investing public would be to the current power structure.

Reality, and particularly mathematical reality, has a way of asserting itself. Inevitably, the truth of the real nature of the present system will become apparent to everyday investors. At some point the broader public will look around and grasp that the current system has been siphoning their productivity and labor for generations, and has been doing so well beyond the publicly acknowledged and democratically chosen practice of taxation. They will realize that the “value” of everything they have earned or saved has been remorselessly diminished by the hidden confiscation tax of currency devaluation over time. They will see that as the politicians spend the produce of their labor without limit and the enabling Fed prints to pay those bills, their paychecks buy less and less and the value of their pensions shrink. With every dollar printed and every TBTF bank bailed-out, in every investment they own they are slowly being bled dry. At some point people will wake up and understand that although they are following the rules (and following the herd when it comes to investing advice) they are swimming against the tide, and the tide is winning.

And when this becomes plain to them, people will look around and see that there is a small group of investors who have managed to protect their saved value through physical gold and silver in their possession, and that this has insulated them, over the long term, from wealth confiscation via inflation. And I firmly believe that when this happens, and when the obvious benefits of the behavior of these investing “outliers” becomes crystal clear to the broader population, we will see a preference cascade to end all preference cascades into the metals. That, I think, will really be something to behold.

Then and only then, when the awareness of these things has become so widespread that my idiot neighbor is talking about ASE’s and everyone and their brother is trying to buy gold and silver, will I start thinking about selling some of mine. I hope to do so at a healthy, and possibly ridiculous, profit.

Until that day comes, protect yourself and your wealth in the present. Keep stacking.

About the Author

  173 Comments

Mr. Fix
Feb 25, 2014 - 6:29pm

The weather report and geo-engineering:

@ Patrancus,

Thanks for posting that, it's the second time I've watched it, and it does point out what is important, and I think it seriously outweighs financial matters, (specially considering how little finances I have so work with), but as is often the case when such facts are presented, the motives are completely missed.

The scientist who makes the presentation works from the premise that the elite have lost control of their pet science project, and that in a valid attempt to prevent global warming, they have in fact accidentally created a scenario whereby if the chem trail flights do stop, the Earth's temperature will skyrocket.

I think he seriously overlooks the moral depravity of the elites in charge. He simply won't acknowledge the simple fact that they are trying to kill us, and that this is a well orchestrated genocide.

This is one of the reasons why I often write that gold and silver is not going to be of much value unless we can survive what is on the immediate horizon.

Reply to

All this financial shit is moot

Hammer
Feb 25, 2014 - 6:30pm

...and the hit (jobs) keep

...and the hit (jobs) keep coming Gold market breaches 'covered up' By Andy Verity BBC Newsnight Kaloti gold bars Kaloti is currently building the biggest refinery in the world in Dubai Continue reading the main story Related Stories Apple in conflict mineral crackdown Intel chips will be 'conflict free' Why investors' golden years are over Dubai's biggest gold refiner committed serious breaches of the rules designed to stop gold mined in conflict zones from entering the global supply chain, a whistleblower has revealed. Amjad Rihan led an Ernst & Young team that audited Kaloti and found it was failing to carry out the proper checks. But after he told the Dubai regulator, it changed its audit procedures. He said that allowed details of the most serious findings to be covered up, with Ernst & Young turning a blind eye. The regulator, Ernst & Young and Kaloti all say they acted properly. Mr Rihan told BBC Newsnight: "The risk of conflict gold entering Dubai and entering the global supply chain is extremely high." https://www.bbc.co.uk/news/business-26341072

Hammer
Feb 25, 2014 - 6:38pm

p.s news night put out a

p.s news night put out a documentary on it 25th for those interested.

dgstage
Feb 25, 2014 - 6:49pm
dgstage
Feb 25, 2014 - 6:52pm

BOA

Bank of America’s legal problems pile up

The bank says it is facing inquiries over credit-card and other practices

https://www.marketwatch.com/story/bank-of-americas-legal-problems-pile-u...

John Galt SilverRunNW
Feb 25, 2014 - 7:18pm

@ SilverRunNW re: The Cow

We'd better milk that tip for all it's worth.

woofwoof
Feb 25, 2014 - 7:37pm

Tin cans filled with $10 million in gold coins found buried

Recall the little exercise about traveling into the future and having a choice between ten gold coins or ten bitcoins to take on the journey? Now we know.

erewenguy woofwoof
Feb 25, 2014 - 7:56pm

When it comes to a choice between paper or gold, gold wins

Another article about the cans of gold coins found with some additional pictures

https://www.sfgate.com/bayarea/article/Gold-Country-couple-discovers-mil...

Yeah, it stood the test of time.

SilverRunNW
Feb 25, 2014 - 8:00pm

@John Galt & dgstage

I found it interesting that "subliminally", he's saying "yeah, it's going up to $1,380 but after that, all hell will break loose to the downside" and "you'd only invest in gold if you thought the world is coming to an end". I bet that fucker really knows the deal and owns a boat load of gold.

It's just so typical MSM spin and MOPE and designed to keep the blind from seeing and the curious from considering.

57Goldtop
Feb 25, 2014 - 8:08pm

If you take the story seriously

This couple found the gold coins, and figures they'll rush to exchange them for FRN's and keep a few as keepsakes?

They obviously didn't turn to TFMetalsReport for advice.

Dyna mo hum
Feb 25, 2014 - 8:34pm
John Galt SilverRunNW
Feb 25, 2014 - 8:35pm

Symbolism re: Cow/Bull

A male cow is a bull, and a bull is the ancient symbol of St. Luke.

St. Luke is the symbol of the light-bearer, Lucifer.

There is something symbolic to a guy dressing as a bovine to go on MSM.

norge
Feb 25, 2014 - 8:39pm

Justina Pelletier case

I would like to hear from legal experts from this site - in my backyard in MA and very unnerving

https://www.foxnews.com/on-air/the-kelly-file/transcript/2014/02/25/mass...

https://www.huffingtonpost.com/cristy-balcells/first-do-no-harm-how-we-f...

But, this is where Justina's tale unravels from the pursuit of adequate medical care to a complicated legal debacle that, sadly, is happening all too often with mitochondrial disease patients and their families. At MitoAction, a family advocacy and support organization, we receive nearly four calls a month from families across the country facing scrutiny from their doctors when it comes to this difficult-to-diagnose-and-treat disease. In extreme cases, such as the Pelletiers, parents lose custody of their children for "medical child abuse." This epic failure of the system is just too alarming to remain silent about.

dgstage
Feb 25, 2014 - 9:33pm

SilverRun

You might be giving that guy to much credit! It is certainly mope!

Is it just my bad eyes, everything in the subject line runs together when posting?

DayStar
Feb 25, 2014 - 9:44pm

Harvey's Up! (TFMR)

  • Rick Rule: We are at one of these wonderful places right now, coming off a bear market bottom, where there is liquidity in the market but things are still cheap as a consequence of a 75% decline on the Toronto Stock Exchange. So this is a God-given moment in these markets. It looks as though commodities ‘are just consolidating the gains.’ You have seen gold move significantly higher, and when gold moved down last week it didn’t break down. In fact, it consolidated the gains. That is very positive action. Markets move as a result of both supply and demand. What has been very apparent to me is that demand for commodities on a global basis has been very weak. As most of your guests have described, the economy is in fact very weak. So this has not been a demand-driven market in commodities, but rather a lack of supply that has driven these markets. If you look at the commodities like platinum, palladium, natural gas, uranium, zinc, etc., supplies faltered even in a bear market. So we are also looking at those places. But we are mainly attracted to precious metals, not because the stocks are cheap, but because they are reasonably priced today relative to other commodity prices.
  • Bill Holter: They have backed themselves into a corner of their own making and the options available are "none", "words" in the past may have worked but it's almost as if they don't even matter now. After each Fed meeting, investors hold their breath to see what the Fed has to say. I believe that after one of these "statements" in this year of 2014, the markets will go "off the reservation" all on their own. Will it be because the Fed "chose" the wrong word, wording or "type" of word? No, I doubt it. They can only substitute "perception" so far until the actual reality that investors see, feel and experience overwhelm the "Goebbels effect". I honestly did not think that we could have made it this far, we did. "We did" through the use of words, propaganda, false reporting, the creation of free money and "making" markets (asset prices) through the manipulation of all markets. This will not stand as "broke is broke", spending at the "street level" is collapsing as evidenced by retail sales (Walmart), auto sales, housing etc., even luxury sales have been affected. The top .1% have become richer but they cannot carry a gutted economy all by themselves and no amount of "words" can change this.
  • Mark O’Byrne: Concerns about the possibility of the Chinese property bubble bursting affecting economic growth in China and the world is supporting gold. Nervousness over Ukraine, after new acting President Turchinov warned Ukraine is close to default, is also supportive of gold at these levels. Geopolitical risk has increased as seen in the deepening tensions between the U.S., EU and Russia and is not going to disappear anytime soon. Gold eased 0.15% to $1,335 an ounce after rising as high as $1,338.60 yesterday, its strongest since late October. Chinese shares plunged in recent days and the Shanghai Composite Index is down 7% in less than a week over fears of a property bubble and the continued depreciation of the Chinese yuan. Real estate stocks led the fall after media reports over the weekend said that real estate developers lowered house prices and banks halted loans to some real estate businesses. Government data released on Monday showed home prices dropped month on month in more Chinese cities in January. This should contribute to continuing store of wealth demand from buyers in China.
  • Harvey: Today, gold and silver had another great day. Again the bankers are resorting to off hours in order to try and contain the gold/silver metals. During the Comex hours, gold and silver advance due to the huge demand from overseas. Today is options expiry so expect the bankers to try and suppress gold/silver prices for the rest of the week. They do not want longs to take possession of our two precious metals gold and silver. Also today, the gold/silver equity shares were quite weak as was silver relative to gold...a sure sign that a raid is upon us shortly!!
  • Lily Leung: The Federal Trade Commission accused Tulving in 1990 of overpricing rare coins and reneging on return guarantees through a similarly named company, Hannes Tulving Rare Coin Investments, which also was headquartered in Newport Beach. Investigators called the operation “a sophisticated scheme to defraud customers” out of more than $40 million, according to the civil complaint. The company sold collectible coins for three to five times their true worth and told customers their coin values were rising when they weren't, thus creating an “artificial market,” government records say. After the company was placed into receivership and filed for bankruptcy, Tulving agreed to pay $1.3 million in a settlement in 1992. It's unclear from FTC documents whether Tulving completed his payments. Now 20 years later, customer complaints against Tulving have begun again. At least two customers, one in Arizona and another in South Dakota, have filed lawsuits: South Dakota resident Kenneth W. Stach says the company has failed to deliver 240 gold coins to him, for which he paid more than $318,000 in mid-November, despite multiple requests for the coins, court documents show. Also, Alfred J. Olsen, of Phoenix, says his $107,000 order of 80 Gold Maple Leaf coins was supposed to be shipped within a week of ordering them in October, based on a lawsuit filed in U.S. District Court in Arizona. When the suit was filed in the fall, Olson had yet to receive the coins.
  • Richard Russell: I think today's wealthy are establishing the hyperinflationary prices that we may see in all items during the next 3-5 years. If this is true, we should see the entire stock market moving higher, as it discounts future hyperinflationary prices. If hyperinflation is to be our future, the one tangible currency, gold, should be our best protection. If hyperinflation is in our future, then gold and the stock market should now be discounting it. The fact that we have not had a 10% correction in the stock market since 2011 speaks of the stubborn bullishness of this stock market. If I’m correct in that hyperinflation is in our future, we should shortly see new highs in the various stock market indices and a further parade of record prices for tangibles at auctions and in the news. Also, if hyperinflation is in our future, then gold and silver are dirt cheap today.
  • Stephen Leeb: Right now we have gold and silver moving higher along with commodities. Usually I don’t spend time on geopolitical issues, but I want to cover this topic very briefly. Most of the time geopolitical issues are non-starters, but there are situations where you can really see things getting out of control. What is happening in the Ukraine right now is not good. The Ukraine needs something like $30 billion and very stringent economic controls. For the West to really put a deal together with the Ukraine and form a united bloc against Russia, I just don’t see it happening for monetary reasons. It is not a pretty picture for the West at this point, particularly for the US. Also, Russia has signed treaties with China. So we see a bond forming between Russia and China. All this has me worried about the kind of world we are going to be living in in the future. The world is going to be needing another reserve currency because the US is no longer going to be able to singlehandedly monitor the world. Sadly, I think it’s going to end in tears for this country.
  • Harvey and Zero Hedge: Chinese corporate debt now hits a record 12 trillion equivalent USA which is 120% of GDP. The major problem: huge non performing Chinese loans and the huge risk in the shadow banking sector with all of those iron ore rehypothecations of the same ore. China's corporate debt is 151% of GDP, and non-performing loans currently exceed the number that was experienced in 2008. Exacerbating China's corporate troubles has been the questionable use of 4 trillion yuan in stimulus that Beijing pumped into the economy following the onset of the global financial crisis in 2008, explained Lee of Standard & Poor's. "Many companies invested heavily into competitive and low-return projects because funding was readily available," he said. "These investments aren't doing well and are making little contribution to profitability."
  • Tyler Durden on the Ukraine: Russia's earlier "default" warning (or threat) has not just impacted Ukrainian bonds but the currency is crashing. The Hyrvnia is down a stunning 6.8% today - the biggest drop since Feb 2009 - to a record low 9.8 to the US Dollar. This crisis is far from over and we would expect capital controls.
  • Zero Hedge: Following last year's realization that mortgage origination as a product line is effectively dead (which has forced such origination dependent banks as Wells Fargo to return to subprime lending in hopes of keeping the revenue stream alive, knowing full well how it all ends), and that only investors and "all cash" buyers are keeping the myth of the housing recovery alive on their shoulders, banks fired tens of thousands of workers in the mortgage business hoping to stem the bottom line bleeding from the collapse in revenues. It turns out that they didn't fire enough and/or that the housing market contraction was far worse than even the banks, in their most, pessimistic forecasts, had expected. Case in point: JPMorgan, which after firing 15,000 in its mortgage business, has just revealed it will fire thousands more.
  • Dow Jones: Factory activity in the central Atlantic region withered this month, as orders shrunk and hiring stalled, the Federal Reserve Bank of Richmond reported Tuesday. The Richmond Fed's manufacturing current business conditions index dropped to -6 in February, from 12 in January, now at its lowest reading since July 2013. It is becoming increasingly difficult to mask the fact that home price momentum is fading. This is precisely what one sees when looking at the change in unadjusted prices, which in December posted the second sequential decline in a row, dropping by -0.08%, following a -0.05% drop in November for the 20-City Composite index, and the biggest sequential decline since November 2012. Finally, we are grateful to Case Shiller for being the first to admit that it was not all the weather: "Some of the weakness reflects the cold weather in much of the country. However, higher home prices and mortgage rates are taking a toll on affordability." Let's hope there is no rain in the Spring and sun in the summer then as everything else is already bad and getting worse.
  • Steve Quayle: One of the most important things that people need to keep in mind is delivery is everything. Let me just give you a statistic that's amazing: $750 million will buy every single ounce of gold and silver that is available from the major distributors in the United States in any given day.
  • Susan Duclos: An explosive bit of information was obtained by John Moore which he reveals on his February 25, 2014 show. He recieved this information from a private source about the Texas Department of Safety, which runs the Texas Rangers and the Texas Highway Patrol, telling their agents to keep all tactical and survival gear in their vehicles, with them, as of March 1, 2014 and to “be prepared” to possibly be on their own, to work independently after March 1st. As Moore points out, the only reason they would be forced to work without any contact with headquarters is if there could BE no contact, meaning a possible EMP attack shutting down communications.
All this and more on... The Harvey Report! https://www.tfmetalsreport.com/comment/614152#comment-614152 DayStar
Hammer
Feb 25, 2014 - 11:25pm

What I find difficult to

What I find difficult to reconcile is that those proclaiming the need for freeeeeedom (via The Bitcoin MtGox storage) from regulators are the very same ones that immediately go running to the regulators when it goes tits up

Couldn't find a song for "tits up" so here's Freeedommmmmmm

George Michael - Freedom! ’90 (Official Video)

scratch that. There is a song.....

Tits Up
dgstage
Feb 25, 2014 - 11:35pm
Pounds of Money Dyna mo hum
Feb 25, 2014 - 11:57pm

Dyna mo hum - Great Link, Thanks

Dyna mo hum, the link you posted is great.

Mostly, it was just a bunch of friendly farmer types, having a friendly chat, but running about 80 / 20 on the clueless / informed scale.

I would have expected a more enlightened discussion, and found it to be rather informative from a contrarian perspective.

Those are the ones that need to wake up. The original poster with the question is waking up, and a few are awake, but were wisely being gentle in their approach with those who were clueless.

Mr. Fix
Feb 26, 2014 - 12:15am
Mr. Fix
Feb 26, 2014 - 12:19am

The polymer snow is still 2 feet high at my house:

So I watched the video… Wouldn't you?

The assertion that Monsanto intends to own everyone through patent rights, might be true, but I suspect most people will not comply.

I also think they have the ability to kill us any time they wish, at this point, it's probably no more difficult than flicking a switch.

Why are we still alive?

Something to think about…

atarangi
Feb 26, 2014 - 12:24am

chemtrails is all bullshit

Chemtrails - DEBUNKED
BagOfGold
Feb 26, 2014 - 12:25am

Caravan To Midnight episode 12...

Guest: Gary Yantis discusses Tesla technology...& the Fukushima "blame game"!...

Video unavailable



Bag Of Gold

Nick Elway Dyna mo hum
Feb 26, 2014 - 12:38am

State sales tax

Thanks Dyna, the yesterdaystractor link you provided had a handy state sales tax table:

https://thecoinologist.com/sales-tax-state-by-state-breakdown/

I suggest people visit their local coin club https://www.money.org/ana-clubs/ana-club-directory.aspx Coin and paper money and stamp collectors usually trade with other collectors without paper work or tax. Some will trade eagles and pre-65 coins for FRN's and vice versa.

Quote:

Alabama
The State charges 4% on everything, there are also County & City taxes, which can add another 4-5%.
Alaska
No state sales tax, though local governments may still tax.
Arizona
No sales tax collected on Coins, Paper Money, or Precious Metals.
Arkansas
Sales tax is collected on Coins, Paper Money, and Precious Metals.
California
Exemption on Coins and Bullion when over $1500. Paper Money is taxable.
Colorado
Sales Tax on Coins, Paper Money, and Bullion varies by City. The State does not charge any sales tax.
Connecticut
No sales tax on Coins or Paper Money. Exemption on Bullion when over $1000.
Delaware
No sales tax collected on Coins, Paper Money, or Precious Metals.
District of Colombia
Sales tax is collected on Coins, Paper Money, and Precious Metals.
Florida
No sales tax on U.S. Coins or Currency. Exemption on Bullion when over $500.
Georgia
No sales tax collected on Coins, Paper Money, or Precious Metals.
Hawaii
General Excise Tax is collected on Coins, Paper Money, and Bullion.
Idaho
No sales tax on Coins or Bullion. Paper Money is a grey area.
Illinois
No sales tax collected on Coins, Paper Money, or Precious Metals.
Indiana
Sales tax is collected on Coins, Paper Money, and Precious Metals.
Iowa
No sales tax collected on Coins, Paper Money, or Precious Metals.
Kansas
Sales tax is collected on Coins, Paper Money, and Precious Metals.
Kentucky
Sales tax is collected on Coins, Paper Money, and Precious Metals.
Louisiana
Exemption on Coins and Bullion when over $1000. Paper Money is taxable.

Maine
Sales tax is collected on Coins, Paper Money, and Precious Metals.
Maryland
Numismatic items and Bullion are exempt when over $1000.
Massachusetts
Coins, Paper Money, and Bullion are exempt when over $1000.
Michigan
No sales tax collected on Coins, Paper Money, or Precious Metals.
Minnesota
Sales tax is collected on Coins, Paper Money, and Precious Metals.
Mississippi
No sales tax collected on Coins, Paper Money, or Precious Metals.
Missouri
No sales tax on Coins or Bullion, but taxes Paper Money
Montana
No sales tax collected on Coins, Paper Money, or Precious Metals by the State. There is a 3% Provisional tax in some communities. See Comments.
Nebraska
Sales tax is collected on Coins, Paper Money, and Precious Metals.
Nevada
Sales tax is collected on anything that sells for over 50% of its “Face Value.” Private Mint Bars and Rounds are exempt.
New Hampshire
Sales tax is collected on Coins, Paper Money, and Precious Metals.
New Jersey
Sales tax is collected on Coins, Paper Money, and Precious Metals.
New Mexico
Sales tax is collected on Coins, Paper Money, and Precious Metals.
New York
Coins and Paper Money are Taxable, Bullion is Exempt when over $1000.
North Carolina
Sales tax is collected on Coins, Paper Money, and Precious Metals.
North Dakota
No sales tax collected on Coins, Paper Money, or Precious Metals.
Ohio
Sales tax is collected on Coins, Paper Money, and Precious Metals.
Oklahoma
Sales tax is collected on Coins, Paper Money, and Precious Metals.
Oregon
No sales tax collected on Coins, Paper Money, or Precious Metals.
Pennsylvania
No sales tax on Coins or Bullion, but taxes Paper Money.
Rhode Island
No sales tax on Coins or Bullion, but taxes Paper Money.
South Carolina
No sales tax collected on Coins, Paper Money, or Precious Metals.
South Dakota
No sales tax collected on Coins, Paper Money, or Precious Metals.
Tennessee
Sales tax is collected on Coins, Paper Money, and Precious Metals.
Texas
Coins and Precious Metals are exempt over $1000. Paper Money is taxable.
Utah
No sales tax collected on Coins, Paper Money, or Precious Metals.
Vermont
Sales tax is collected on Coins, Paper Money, and Precious Metals.
Virginia
Sales tax is collected on Coins, Paper Money, and Precious Metals.
Washington State
No sales tax on Coins or Precious Metals. Paper Money is taxable.
West Virginia
Sales tax is collected on Coins, Paper Money, and Precious Metals.
Wisconsin
Sales tax is collected on Coins, Paper Money, and Precious Metals.
Wyoming
Taxes vary by city on Coins and Paper Money. Precious Metals are taxable.

Points of Interest:
Coins, Paper Money, and Precious Metals can be taxed differently.

Disclaimer: This is only a guide and information should be verified before any purchases are made. The|Coinologist in no way makes any guarantees about how states, counties, or cities collect sales tax.

Mr. Fix
Feb 26, 2014 - 1:08am

I was going to listen to Coast to Coast AM,

tonight's show 1am - 5am ET
10pm - 2am PT Future of the Mind/ UFOs

Tue 02-25

First Half: Dr. Michio Kaku will discuss the astonishing scientific research being done in top laboratories-- all based on the latest advancements in neuroscience and physics. He'll detail how one day we might have a "smart pill" that can enhance our cognition, be able to upload our brain to a computer, and perhaps even send our consciousness across the universe.

2nd Half: Writer, researcher and skeptic,Micah Hanks, addresses a variety of the unexplained through the lens of cultural phenomena, human history, and the prospects of our technological future. He'll talk about credible sightings of UFOs by aviation professionals and government agencies.

More » But since Bag of Gold posted the latest show by John B Wells above, I now have a better choice. Thank you BOG!
Mr. Fix atarangi
Feb 26, 2014 - 1:22am

@ atarangi: Get a clue.

I know you're on the other side of the planet, but if you watch a good documentary about what's going on here in the northern hemisphere, and then see the 2 feet of evidence I've got on my house, with more to come tomorrow,

you might think differently.

Chem trails & HAARP have become a FAR better predictor of the weather then the guy on the boob tube.

atarangi
Feb 26, 2014 - 1:40am

getting a clue - -

Two foot of polymer snow would take many more planes than the U. S. has got. It is no secret that your government holds the record for death and destruction using planes by a long shot. It is also obvious that the chemtrail crowd lack any real credibility with the evidence they present. Thanks for your entertaining and civil presentations but I do not buy into bullshit.

atarangi
Feb 26, 2014 - 2:45am

Don't be fooled - - -

Many things we encounter in life are complete and utter garbage. Stuff like chemtrails, religion, collectivism, political correctness, peak oil, man made global warming, wanking makes you go blind etc. All these things are clever tricks to mislead us into working for the elitist families who are running the whole show. Don't be fooled by this bullshit.

Excalibur
Feb 26, 2014 - 3:26am

Cultural empathy

Interesting video with guy who maps values in organisations and countries.

Starts at 6 min and mentions USA (after Latvia and Iceland) at 12 min. 'If the USA was a company it would go bust'

Video unavailable
thurd aye
Feb 26, 2014 - 6:23am
TomMack
Feb 26, 2014 - 6:42am

coins?

anyone hear about a couple in calif? who found some old gold coins!!!??

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