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Question?

Started by Afterword,

36 posts in this topic

BillJones

BillJones

Posted
Posted

It depends upon where you live. Recently Florida has required Heritage to collect the sales tax. Since there is no sales tax on U.S. coins in Florida that does not change the status of those purchases. If the tax appears on your bill for U.S. coinage, you need to get back to Heritage to have it removed.

 

It's a difference story for foreign coins and curreny, bullion and I believe U.S. currency (?), There the tax kicks in according to the in-state Florida rules.

 

As for the other states that charge sales tax on coins, I can't answer your question.

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Afterword

Afterword

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I cannot make up my mind. They have what I want, but they want me to send them a copy of my driver's license. Is this standard procedure for registering to bid at one of their auctions? It seems extreme.

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BillJones

BillJones

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If you have had a number of transactions with other major firms, you might be able to convince them that way. I'd be leery about giving out my driver's license. I would think that they would be happy with a credit card number.

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Hack

Hack

Posted
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I singed up with Heritage a littler over a year ago and they did not require a photo of my drivers license, but I can not remember if a license number was required.

 

Heritage has different rules on how to pay for a coin depending on the final realized amount and type of transaction. On some high end coins they would not take a credit card or Pay Pal and I had to send in a check. On most coins you have a option to pay by credit card, Pay Pal, check or E-check.

 

Heritage has provided me with good customer service and I have had no issues. I live in Texas and they incorrectly charged me sales tax on a coin and I made a phone call to Heritage and talked to a lady and I had a new invoice with no sales tax with in a couple of hours. The sales tax charged by Heritage depends on the state law for sale of coins.

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RWB

RWB

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Businesses are constantly trying to stay ahead of the crooks. A basic problem is that crooks pay better and it's all tax-evaded free.

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Afterword

Afterword

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"Heritage has different rules on how to pay for a coin depending on the final realized amount and type of transaction. On some high end coins they would not take a credit card or Pay Pal and I had to send in a check. On most coins you have a option to pay by credit card, Pay Pal, check or E-check."

 

 

 

 

Sounds like a lot of uncertainties. That is not good.

 

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tommy44

tommy44

Posted
Posted

Coin sales in Georgia are tax exempt so Heritage does not bill me for tax on successful bids. I've been a active customer for at least the last four years and had been a customer way back in the Steve Ivy days so they never asked for my driver license.

 

Personally I wouldn't worry about sending them that info if they had asked. You aren't going to find the variety and quantity of material anywhere else.

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Afterword

Afterword

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If you have had a number of transactions with other major firms, you might be able to convince them that way. I'd be leery about giving out my driver's license. I would think that they would be happy with a credit card number.

 

 

 

 

The only major auction company I have dealt with is Rock Island Auction, which specializes in firearms and edged weapons. Even then, it was to sell rather to buy.

 

As much as I want this item, I think I have to pass. Maybe by some miracle it will show up at Great Collections or a Proxibid auction in a year or two.

 

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physics-fan3.14

physics-fan3.14

Posted
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I never provided them with documentation, and I've never paid sales tax. I live in SC.

 

I've also been registered with them for many years, so that may be why I didn't have to provide anything. I think the situation is different if you are trying to sign up for credit/layaway.

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Afterword

Afterword

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Coin sales in Georgia are tax exempt so Heritage does not bill me for tax on successful bids. I've been a active customer for at least the last four years and had been a customer way back in the Steve Ivy days so they never asked for my driver license.

 

Personally I wouldn't worry about sending them that info if they had asked. You aren't going to find the variety and quantity of material anywhere else.

 

 

 

 

Normally, for me, Heritage makes collecting a little too easy (at least, once you get passed the registration process). There is no adventure - no discovery.

 

The item I want is an exception to this.

 

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Afterword

Afterword

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"I think the situation is different if you are trying to sign up for credit/layaway."

 

 

 

 

Neither of which is the case in this instance. I simply want to bid on an item in their upcoming currency auction.

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jom

jom

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Why worry about whether you get taxed? Assume that you will and bid to the level you are comfortable with and include the tax just like you would the buyer's fee.

 

jom

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Afterword

Afterword

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Why worry about whether you get taxed? Assume that you will and bid to the level you are comfortable with and include the tax just like you would the buyer's fee.

 

jom

 

 

 

 

I was only concerned about the possibility of taxes, because of the eventuality of a necessity to make the adjustments to which you reference.

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wheat'swheats

wheat'swheats

Posted
Posted
"Heritage has different rules on how to pay for a coin depending on the final realized amount and type of transaction. On some high end coins they would not take a credit card or Pay Pal and I had to send in a check. On most coins you have a option to pay by credit card, Pay Pal, check or E-check."

 

 

 

 

Sounds like a lot of uncertainties. That is not good.

saving 3% makes that 17.5% really 17.5%

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wheat'swheats

wheat'swheats

Posted
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If you have had a number of transactions with other major firms, you might be able to convince them that way. I'd be leery about giving out my driver's license. I would think that they would be happy with a credit card number.

 

 

 

 

The only major auction company I have dealt with is Rock Island Auction, which specializes in firearms and edged weapons. Even then, it was to sell rather to buy.

 

As much as I want this item, I think I have to pass. Maybe by some miracle it will show up at Great Collections or a Proxibid auction in a year or two.

If you pay with a credit card at Rock Island you pay an extra 2.5% which makes your BP 17.5% then they charge you for shipping and packing supplies plus the insurance . The last Rock Island auction I won 1 $100 lot and after all the fees my cost was $162 that is a 62% buyers premium. Which Rock Island and I are battleing over now because they did not ship as I instructed.

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Afterword

Afterword

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If you have had a number of transactions with other major firms, you might be able to convince them that way. I'd be leery about giving out my driver's license. I would think that they would be happy with a credit card number.

 

 

 

 

The only major auction company I have dealt with is Rock Island Auction, which specializes in firearms and edged weapons. Even then, it was to sell rather to buy.

 

As much as I want this item, I think I have to pass. Maybe by some miracle it will show up at Great Collections or a Proxibid auction in a year or two.

If you pay with a credit card at Rock Island you pay an extra 2.5% which makes your BP 17.5% then they charge you for shipping and packing supplies plus the insurance . The last Rock Island auction I won 1 $100 lot and after all the fees my cost was $162 that is a 62% buyers premium. Which Rock Island and I are batteling over now because they did not ship as I instructed.

 

 

 

 

I am not surprised. However, I have no complaints regarding the items I sold in their auctions.

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MarkFeld

MarkFeld

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"Heritage has different rules on how to pay for a coin depending on the final realized amount and type of transaction. On some high end coins they would not take a credit card or Pay Pal and I had to send in a check. On most coins you have a option to pay by credit card, Pay Pal, check or E-check."

 

 

 

 

Sounds like a lot of uncertainties. That is not good.

 

 

If you contact client services, I am confident that they will be able to answer your questions and remove the "uncertainties". If you don't care to do that and would like for me to ask on your behalf, feel free to email me at mfeld@ha.com and let me know your questions.

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wheat'swheats

wheat'swheats

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As far as buying from Heritage...... There is really no problems either in quality of product or service. They have started requiring more proof of Id because of all the crooks that know how to use a computer. I have been using HA for years and will continue to do so.

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Conder101

Conder101

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Hertage has nexus in Texas, California, and New York. If you live in those states you will pay sales tax on items if those states charge sales tax on what you are buying.

 

I don't believe they have nexus in any other state so you would not pay sales tax on items bought and shipped to those states. If you bid and pick up the lots at the show where the auction is being held you would owe sales tax based on the rules of the state where the auction is being conducted.

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coinman1794

coinman1794

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"Heritage has different rules on how to pay for a coin depending on the final realized amount and type of transaction. On some high end coins they would not take a credit card or Pay Pal and I had to send in a check. On most coins you have a option to pay by credit card, Pay Pal, check or E-check."

 

 

 

 

Sounds like a lot of uncertainties. That is not good.

 

The actual policy is quite simple. Transactions over $2500 require immediate payment by bank account, and those below $2500 can be paid with a credit card of paypal.

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Afterword

Afterword

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"The actual policy is quite simple. Transactions over $2500 require immediate payment by bank account, and those below $2500 can be paid with a credit card of paypal."

 

 

 

 

By "immediate payment by bank account" do you mean a wire transfer? You could not send a check? Also, if the amount were over $2,500, could/would they charge the $2,500 to your credit card and accept the remainder in check or a wire transfer?

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wheat'swheats

wheat'swheats

Posted
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"The actual policy is quite simple. Transactions over $2500 require immediate payment by bank account, and those below $2500 can be paid with a credit card of paypal."

 

 

 

 

By "immediate payment by bank account" do you mean a wire transfer? You could not send a check? Also, if the amount were over $2,500, could/would they charge the $2,500 to your credit card and accept the remainder in check or a wire transfer?

They will accept a check, no will not split payment I have already asked them that question

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Afterword

Afterword

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"The actual policy is quite simple. Transactions over $2500 require immediate payment by bank account, and those below $2500 can be paid with a credit card of paypal."

 

 

 

 

By "immediate payment by bank account" do you mean a wire transfer? You could not send a check? Also, if the amount were over $2,500, could/would they charge the $2,500 to your credit card and accept the remainder in check or a wire transfer?

They will accept a check, no will not split payment I have already asked them that question

 

 

 

They certainly do not make it easy.

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wheat'swheats

wheat'swheats

Posted
Posted
"The actual policy is quite simple. Transactions over $2500 require immediate payment by bank account, and those below $2500 can be paid with a credit card of paypal."

 

 

 

 

By "immediate payment by bank account" do you mean a wire transfer? You could not send a check? Also, if the amount were over $2,500, could/would they charge the $2,500 to your credit card and accept the remainder in check or a wire transfer?

They will accept a check, no will not split payment I have already asked them that question

 

 

 

They certainly do not make it easy.

\

Nothing hard about it. That is just the way they want it done

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