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6% surcharge

Geru, thanks for the research. As I mentioned, I knew that was the state law on bullion, but it doesn't mean they have to follow the state rules in the stores, or do they? Also, as the girl stated, it was the casino charging a surcharge on the sale as they do in all the stores, and it was not a state sales tax. I don't believe it, so I sent in an email to the casino and asked if there is a 6% surcharge which they would take on this sale, or on all in casino sales, or if they are wrongly charging the state sales tax on the untaxable bullion sales. I haven't heard back from them yet. But the good thing for me is, I didn't buy the bar when she told me of the additional 6%. I couldn't see paying the additional $87 when they already were $525 over spot price anyway (which comes to about a 56.6% markup). We all know they usually mark up everything in the stores about 35%, but 56% is just plain gouging. If this has been going on for some time now, I can imagine the profits that they have ripped off past buyers of these bars. Shameful. I would never pay cash for these bars in this place, but thought it was a good way to use up points and get something of cash value.
John

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No problem. Just goes to show you what being retired, and being in the middle of the All-Star break can do. I'm glad you didn't buy it, and I'd be curious to hear if you ever get a response to your email.

The funny thing is, I was actually in that store last weekend, and happened to look at the gold, and thought what a rip-off over spot. I didn't even consider buying, and in truth, wasn't even aware of the no tax on bullion law. (I use the ETF GLD for mine, not the physical gold)

It is getting harder & harder to use up points - we don't need any appliances, and I just picked up a replacement IPOD with the shopping cash last Friday. My bride will kill me if I get any more DVD's, and I'll probably do the same if she buys any more Yankee candles ; )

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Geru, thanks for the research.

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