ARA doesn't take GOLD anymore from the public!!!!! *UPDATE, they're taking my GOLD!*

"Dealer Backlash

As opposed to other businesses that may deal with a limited number of vendors, gold dealers often buy from individuals. One dealer interviewed for ABC News in July 2010, estimated that he dealt with some 1000 customers every week. Because they deal in so many separate transactions, some gold coin dealers have been outraged by this new change in law and are hopeful this provision of the act can be repealed before implementation in 2012. A gold coin dealer also commented in the same article that the extra reporting requirements will force him to hire more staff just to deal with the paperwork required by the IRS."

The above is part of an article about the new capital gains regulation enforced since this new year. Uncle Sam is sore that he hasn't been getting a fair share of all transactions 600.00+ or 25+ coins when dealing in coin.
 
i was told by my local coin dealer that the 1099 on transactions over 600 bucks a year never went thru....:shrug:
 
I will find out for sure. But several websites stated that they were trying to get it overturned but never concluded that they did. It is probably in force right now.
 
OKFarmer,

We have established rules to keep this forum running smoothly. One of these rules is rules against the discussion of politics, particularly when the post is made with the intent to bash the government. There are plenty of other forums that thrive on politics. Save your comments for them. Posts that do not adhere to our forum rules will be removed.

This has been discussed with the owners and other Mods and Admin, not just my opinion. Please follow the rules and let's all keep things Friendly!

SeabeeRon
 
Agreed!!! On ARA, I sold gold to them just a couple weeks ago and talked to them on the phone about the ID # and all I had to do is mark on the application that I was a metal detectorist.... No problems whatsoever with being able to melt.
 
If you read in one of the forum sections this happened a few months back an the ara said if when we call to get a envolope an set a price make sure we let them know we are from the forums that they would still work with us .
 
Woot. Just talked to them. Told them I'm a detectorist. Had no problem. I'll be shipping it off ASAP. YAY! Thanks everyone.
 
Awesome!!! I will be sending some in also!!!! COOL!
 
Thanks Beefcake and Bonesquat. Will be readying a shipment. And thanks to the excellent mods for keeping the thread on topic. All's well that ends well.
 
Woot. Just talked to them. Told them I'm a detectorist. Had no problem. I'll be shipping it off ASAP. YAY! Thanks everyone.

I toad ya'll. Why don't anyone listen?

Only drawbacks: What if it is fake or contains a lot less gold than you thought? Wouldn't you want the fake back as proof?
You don't get paid for secondary metals in the item, this refinery keeps those in addition to the 2%. (unless I am mistaken)

A 2-6 months ago there was thread here saying that ARA no longer dealt with the public, but would accept your gold if you told them you were a metal detectorist and mentioned the forum.

It probably has to do with the US' new money policies that are keeping a closer eye on gold transactions either for terrorism laundering or so the government knows where to find the gold if they decide to restrict who can own gold again like they once did.

People here are still using them!

You just have to say the right thing:
"I am a metal detectorist. Friends on FMDF have referred me. John Smith, etc to be exact."

They don't deal with just anyone because they don't want to buy from criminals.

http://metaldetectingforum.com/showthread.php?t=95562&highlight=sell+gold
 
ara

if you send your gold to ARA, do they 1099 you since they ask for your tax information?
 
Just received my second check from my finds from ARA. It took about a week to process, and this was my second transaction with them. I sent a small amount just for trial purposes, back in the spring (it took 2 weeks). So be patient and insure usps. All in all I think they're a great company when it comes to melt.
 
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