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Sections Home Page Local News AP News Archives Business Classifieds Event Calendar Forums Life Opinion Obituaries Photo Gallery Since We Asked Sports Tempo Weather Special Coverage 2006 Britt Festivals --> Shop Our Valley AutoFinder HomeFinder JobFinder Search Our Valley Special Sections Homelife Magazine Joy Magazine Readers Choice 2006 Oregon Golf Info Oregon Wine Info Our Valley Other Publications Local Links Ashland News eSouthernOregon Newspapers In Education Personals Moving Here Movie Listings TV Listings Volunteer Customer Service Advertise With Us Media Kit Place Classified Ad Contact Us FAQ's Home Delivery Site Map --> Email Story to a Friend July 30, 2006 You may not make a mint out of those rolls of silver coins DEAR BRUCE: My mother was always saving silver coins of all types. I now have rolls and rolls of coins, some of them are very old and in good condition, and, of course, others are not in the best condition. As far as silver dollars, I have a great collection, and some of the older ones are in excellent condition. My question is, what should I do with all these coins? — D.M., via e-mail DEAR D.M.: What you have is an accumulation rather than a collection. The overwhelming likelihood is that the coins are worth what is called "junk price." In other words, they are worth whatever the silver content is. Coins in circulation, even for a very short time, seldom have any or very modest numismatic value. Furthermore, armchair collectors such as you and me can very rarely evaluate the condition. What appears great to us, a true collector would say is not worth looking at. They certainly have a value for the silver content, and, if you want to convert it to money, there is any number of coin dealers who would be happy to do this for a modest commission. DEAR BRUCE: Would you please give your opinion on buying gold (rare coins)? At age 60, we have always been conservative, investing only in CDs. Would it be wise, since we can afford it, to put $10,000 to $15,000 a year in gold coins? Or should we keep this amount with our CDs? (This might buy seven to 10 coins.) — M.G., via e-mail DEAR M.G.: In essence, gold is not an investment; it is speculation. The exception to this statement, of course, is rare coins. As you know, gold (metal) has been fluctuating enormously. When you say you've always been conservative, this is hardly conservative. You talk about buying rare coins for $10,000 or $15,000 a year. You say this might buy seven to 10 coins. Not the good stuff. For $10,000 to $15,000, you might buy three decent coins but certainly not much more, and you must be extraordinary careful from whom you buy. Coins are rated and graded, and it is clearly, at very best, a subjective art. And the difference between a 65 and 67 rating can mean thousands of dollars in value. Be absolutely certain you have found a reputable, knowledgeable dealer from whom to purchase. Advertisement DEAR BRUCE: A plumbing firm that does work for the government recently hired my son. It's a pretty good job because they pay him prevailing wage. The kicker is this: His boss said he was going to withhold $15 per hour (which is 50 percent of my son's wage) and deposit it in a retirement account for him. The boss said he was going to do this so he didn't have to pay workmen's compensation on my son. I have never heard of such a thing, and I believe the guy is stealing money from his workers. — Concerned in California DEAR CONCERNED: I have never heard of such a thing, either. This business of avoiding workmen's comp has an unpleasant smell to it. If your son is an employee, the company is required to carry workmen's comp. If he's considered contractual, which I doubt, the employer would be required to give him all of the money and report it to the government on a 1099. I'm with you, I think the guy's a hustler and I would warn your son. DEAR BRUCE: I am a freelance employee and I have several different 401(k)s. Is it better to keep them (or put them) in a rollover IRA? I know we should diversify, but is it OK to have all of one's money in different funds within the same mutual-fund company? — W.M., via e-mail DEAR W.M.: On balance, it would be easy to keep track of things having them all in one rollover account. You can diversify and you can choose different funds within one company. With a substantial amount of money, I would be more comfortable having two or three mutual-fund companies and further diversify by selecting perhaps two funds within the same label. DEAR BRUCE: Until last week, I was the office manager for a small wholesale bakery in New York state. They produced a line of organic and kosher products along with conventional ones, the same items in the different formats. For quite a while, the owner of the company has been "fudging" the records, buying cheaper non-organic items and listing them as organic; also, buying non-kosher ingredients and listing them as kosher. It was my job to see that all records were correct and that the records were done properly. Then he would go to the computer, override the numbers and basically lie. This has been going on despite my constant complaints. My son has severe food allergies, and I have to trust packaging. What if another factory mislabeled their food? My son could go into shock. I may not be a saint myself, but people pay three to four times extra for these organic products and they are getting ripped off. People need to eat kosher for religious beliefs, and they are being lied to. When I complained last week, the owner said he was tired of me being a "Goody Two-shoes" and the falsifying of the records would continue as long as he wanted it to. He fired me. Until then, I had great performance reviews, with never a hint that anything was wrong. My question: Should I seek out a lawyer for unfair termination? Also, am I covered under New York's governmental whistleblower law? I was just trying to be fair and do what is right, and I got fired for it. Please help me out. — Reader, via e-mail DEAR READER: Your employer's deeds are improper and illegal. While the kosher labeling is largely religious, although there are some folks who would rely on it for its purity, the other ingredients, as you well point out, could have serious health consequences for people with allergies. While proving what you have alleged may be a bit difficult, by all means you would be well-served to talk to a labor attorney. What this guy is doing is improper. Whether or not it would be considered whistleblowing, unless you went to the authorities, is yet another matter. That would be a matter for your attorney to advise. While everyone applauds what a whistleblower does, relatively few employers are willing to hire them. Good luck! DEAR BRUCE: I am almost 59, and my wife is 60. We bought some land, 5 acres, in Florida 10 years ago, and now have been offered four times what we paid for it. We are looking to purchase a house in southern Georgia. In 1 1„2 years, we are planning to retire and move. We also have a house in northern New York for summer living, and the southern one will be for winter. We are in a good financial situation, not rich but comfortable. We are going to take a big hit in the sale of our Florida property. Are there any ways to lessen the hit? Right now, we live in Wisconsin, but our two oldest kids live in New York. So, we will also be selling this property in Wisconsin. — D.M., Sheboygan Falls, Wis. DEAR D.M.: It would appear the house in Wisconsin is your primary domicile, so the likelihood is there will be little or no tax on that one. You have up to $500,000 exemption. You say you are going to take a big hit on your property in Florida, I hope for your sake that's true. While property in Florida is still very pricey, at this writing, it is much softer than it was only a short time ago, and you may be shocked to find that those 5 acres, while still worth more than you paid for them, are not worth what they might have been a year ago. You can go into a 1031 exchange, which means you're going to trade your equity in the Florida property into some other property. On balance, if you're trying to simplify your life, why not pay the capital gains, which is relatively modest right now, and enjoy the money. Send your questions to: Smart Money, P.O. Box 503, Elfers, FL 34680. E-mail to: [email protected]. Questions of general interest will be answered in future columns. Owing to the volume of mail, personal replies cannot be provided. 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