THE Gas Station Thread (merged)

[mattduke]

Now try to calculate what sales tax he should pay...

I was thinking about this, but sales tax is probably automatically
calculated on the pumps as a US dollar transaction. So I'm sure
calculating taxes isn't a problem.

He paid 25 cents, legal tender.

[steam_cannon]

He paid 25 cents, legal tender.

It's legal tender but not a presently issued currency and the IRS will
treat this based as a commodity transaction. And the IRS would
request that taxes be calculated in federal reserve notes for
the reserve note value of gasoline traded.

Q Are bullion coins legal tender?

A Yes, if they are government issued bullion coins with a face
value. This nominal face value allows the coins to travel across
national borders without the taxation or fees otherwise imposed by
many countries on bullion itself.

http://www.nwtmintbullion.com/articles_faq.php

There are some loopholes like this, but as I said since gas pumps
are set-up to calculate taxes and this guy probably doesn't want
questions from the IRS regarding a promotion, he is probably
paying the state and government taxes.

This is what Feds do when people intentionally use silver to skirt taxes...

Feds Raid NORFED offices, Seize Ron Paul Coins
http://www.plunderbund.com/2007/11/17/f ... aul-coins/

Federal agents on Wednesday raided the Evansville, Indiana
headquarters of the National Organization for the Repeal of the
Federal Reserve and Internal Revenue Codes (NORFED), an
organization of “sound money” advocates that for the past decade
has been selling what it calls Liberty Dollars, a private currency it
says is backed by silver and gold stored in Idaho, with a total of
more than $20 million in circulation, according to the group.

[3aidlillahi]

When I read the title, I was thinking "All gas stations are like this - If you have a 90% quarter". I don't mean they'll take the coin, but you could sell it for roughly a gallon of gas.

[Pretorian]

Real money

that coin had lost minimum 0.5 grams of silver. not so real anymore.
However, next week i am going to farmers market loaded with silver us, canadian and mexican coinage. we'll see

[steam_cannon]

that coin had lost minimum 0.5 grams of silver. not so real anymore.

.5 / 6.25 = 0.08

8% of it's mass. I think that looks a little high, but maybe.

$3.25 * .08 = $0.26

$3.25 - $0.26 = $2.99 value in silver + collector value

CALCULATING TODAY'S MELT VALUE of Quarters
http://www.coinflation.com/coins/1932-1 ... Value.html

And here's a page that might be worth printing out:

United States Circulated Silver Coinage Intrinsic Value Table
http://www.coinflation.com/

However, next week i am going to farmers market loaded with
silver us, canadian and mexican coinage. we'll see

Have fun, bartering can work. I know I've traded ceramic dice /
buttons I've made for small things at flea markets. You have to
have the right people, environment. However without outright
currency collapse, you're going to have more luck cashing in some
silver for FRN's and using those to buy vegetables. But it depends
on the seller. I mentioned NORFED earlier, they were raided
because many businesses wanted to accept their silver backed currency.

[Ferretlover]

HHhmmm... wonder if Gary, the gasoline guy, visits here?...

[steam_cannon]

Penny Bullion

Something amusing, a few sellers on ebay are listing the older copper
pennies on ebay as "penny bullion" a copper bullion.

Copper Cents in 10 lb Boxes! Penny Bullion Below Melt!
http://cgi.ebay.com/ws/eBayISAPI.dll?Vi ... 0213564157

2500 copper pennies lot from 1959-1981
Current bid: US $36.57, MELT VALUE $65
http://cgi.ebay.com/ws/eBayISAPI.dll?Vi ... 0214155971

[gnm]

Even the copper clad zinc pennies are worth more than their face value. How far we have fallen... Keep on printing Ben!

-G

[Pretorian]

Even the copper clad zinc pennies are worth more than their face value. How far we have fallen... Keep on printing Ben!

-G

they used to be, for a month or two, not anymore.

[heroineworshipper]

Since gas crossed $4 here & diesel crossed $4.50, gas stations actually seem to be getting busier. People may have figured out that they can save 20% by filling up more often & unnecessarily. Maybe filling up a few extra cans & stuffing those in their $2 million back yards, too. SUV's are also briskly moving off the dealer lots, probably because of free credit & speculation of more home equity infusions just around the corner.

[Twilight]

A useful observation for the gasoline shortage thread. I will copy it there. If fuel price inflation hits the public consciousness enough that they keep their tanks topped up through summer, that could have an effect on inventories.

[MD]

A useful observation for the gasoline shortage thread. I will copy it there. If fuel price inflation hits the public consciousness enough that they keep their tanks topped up through summer, that could have an effect on inventories.

The run to commodities seems to be spinning off some hoarding mentality here and there. I hope it doesn't get out of hand.

[Jenab6]

A useful observation for the gasoline shortage thread. I will copy it there. If fuel price inflation hits the public consciousness enough that they keep their tanks topped up through summer, that could have an effect on inventories.

The run to commodities seems to be spinning off some hoarding mentality here and there. I hope it doesn't get out of hand.

Hoarding is good, in the practical sense, for the hoarder. Hoarding isn't bad, in the moral sense, as long as he acquires his goods during a time when anyone who so chose could do likewise. Hoarding becomes morally bad only when, during a time of scarcity, someone seeks to acquire more than his share and thus to deprive someone else.

In other words, a hoard gathered now, while there's enough to go around, may be kept into a time of scarcity, when there is not enough for everyone, without any negative karma accruing to the hoarder. No matter how much someone else "needs," that need does not confer a right to get goods from the hoarder. The hoarder must refrain only from continuing to gather once the times have become desperate.

[Tanada]

In the Carter gasoline crisis many people decided to keep their car tanks full, which resulted in a lot of gas stations running out of fuel. The USA as a whole had trhe same amount of gasoline, but it was distributed very differently. And once the stations ran out the first time everyone decided to keep their tanks full so the problem persisted for a few months.

[whatpeak]

There were long lines at the Costco gas station yesterday. Not the lines that extended for blocks during the early 70's, but tens lines with six to seven cars in each. Traffic was backed up on street. People were honking their horns at each other.

The lines resulted from $3.69 a gallon for regular unleaded and not some oil embargo. However, the doomer side of me thinks we're just seeing the beginning of hoarding.

Filled up the Suburban for just $99. Got to get rid of that thing.

[vision-master]

There were long lines at the Costco gas station yesterday. Not the lines that extended for blocks during the early 70's, but tens lines with six to seven cars in each. Traffic was backed up on street. People were honking their horns at each other.

The lines resulted from $3.69 a gallon for regular unleaded and not some oil embargo. However, the doomer side of me thinks we're just seeing the beginning of hoarding.

Filled up the Suburban for just $99. Got to get rid of that thing.

Just the weekend fillup, that's all.

[Tyler_JC]

There were long lines at the Costco gas station yesterday. Not the lines that extended for blocks during the early 70's, but tens lines with six to seven cars in each. Traffic was backed up on street. People were honking their horns at each other.

The lines resulted from $3.69 a gallon for regular unleaded and not some oil embargo. However, the doomer side of me thinks we're just seeing the beginning of hoarding.

Filled up the Suburban for just $99. Got to get rid of that thing.

You STILL have a Suburban?

Sell that thing immediately! Are you crazy?

[roccman]

A useful observation for the gasoline shortage thread. I will copy it there. If fuel price inflation hits the public consciousness enough that they keep their tanks topped up through summer, that could have an effect on inventories.

The run to commodities seems to be spinning off some hoarding mentality here and there. I hope it doesn't get out of hand.

Well...7 billion people acting like I have in the past would definetly be considered out of hand.

And I really don't consider myself very much different than J6P...other than I read.

[mos6507]

Once you start using terms like "more than his fair share" it's a slippery slope. It's tragedy of the commons territory. In a case of overshoot, all consumption can be put under the microscope to derive how much of the earth's resources is a fair share and how much is too much.

[BigTex]

The 24 hour credit card based gas station of today didn't exist back in the 1970s.

It's hard for me to imagine there being a line to fill up in the middle of the night.

Maybe the crowds people are reporting have more of a psychological component--i.e., we are noticing things more because we are concerned about them.

The gas station by my house if busy a lot of the time, but I can drive down there at 11:00 at night and it's usually just me. Same at 5:00am, and at 2:30pm.