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14,000 WW 1 Liberty Loan Patches


WorldWarPatches

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It appears there are now two ebay sellers of the Liberty horde: cnauctionhouse and histroicalauctions both are located is Massachusetts oddly enough.

Maybe it's the same seller with two different accounts. It wouldn't be the first time.

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If a seller hits $20,000 in yearly sales, EBAY sends a 1099 tax form to the IRS. Now if you have two Ebay accounts, you could effectively be making that limit $40,000. That might be the plan for someone looking to sell 14,000 patches on EBAY.

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If a seller hits $20,000 in yearly sales, EBAY sends a 1099 tax form to the IRS. Now if you have two Ebay accounts, you could effectively be making that limit $40,000. That might be the plan for someone looking to sell 14,000 patches on EBAY.

Very clever! I never knew that.

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If a seller hits $20,000 in yearly sales, EBAY sends a 1099 tax form to the IRS. Now if you have two Ebay accounts, you could effectively be making that limit $40,000. That might be the plan for someone looking to sell 14,000 patches on EBAY.

Ebay does not report sale to the IRS, Paypal does. Ebay is only a paid service and does not actually touch your money, so there is nothing to report. It is 200 transactions AND over $20,000. You can make $100,000 in 199 transaction and they will not report it. But really, get a good accountant and pay the taxes because legally you have to claim the income whether it gets reported by them or not. I know a couple IRS special agents and they are one government agency I do not want to short change.

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Ebay does not report sale to the IRS, Paypal does. Ebay is only a paid service and does not actually touch your money, so there is nothing to report. It is 200 transactions AND over $20,000. You can make $100,000 in 199 transaction and they will not report it. But really, get a good accountant and pay the taxes because legally you have to claim the income whether it gets reported by them or not. I know a couple IRS special agents and they are one government agency I do not want to short change.

 

For sure. Don't mess with the IRS.

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I'm generally a uniform collector and know very little about WW I patches. Can someone please explain what a "liberty Loan" style patch is? Were they post war? Were they worn on the uniform right after the war? Any info would be appreciated.

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Garth Thompson

I'm generally a uniform collector and know very little about WW I patches. Can someone please explain what a "liberty Loan" style patch is? Were they post war? Were they worn on the uniform right after the war? Any info would be appreciated.

 

 

This is a liberty loan patch. It was worn immediately after the war on the uniform by returning soldiers. Apparently a great number of them were made. They are made in a thin "bevo" style weave.

 

Garth

post-83-0-33371800-1387379799.jpg

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Hello to everyone , lets set this this record all straight. I am the person who has been listing and selling these liberty loan patches. I find Worldwarpatches dragging my name and patches through the mud here because he couldnt buy the collection for the cheap price he wanted to buy them for. This small time dealer calls me from Arizona and ask me about the patches and if they are for sale , which he offered 100k for the lot and he asked if I could wait a little while if I accepted because he had to get other dealers involved to come up with the funds. He was of course turned down because the patches at the current market value of what they have been selling for is over a million. Would anyone take 100k (if they didnt need the money) for over a million in product? I think not. Not only has he been running his mouth here on this forum but he has created fake ebay listings also trash talking my patches and myself. In all the dealers i have ever met or spoken to , I have never had one act so childish, be so jealous of someones items he has to defame my product and myself.

 

 

I have met many great collectors and dealers during the sale of this estate, some who have defended me on this forum (thanks Mort), and any people who I have spoken with knows I am not here to kill the market as I would never release large quantities to bring the price down heavily, however I cannot control those who want to jump on the band wagon and sell them at the same time as me

The patches for those of you who are history buffs came in their own little boxes packed to 100 a box from the company, so when we talk of 14000 patches we know its true and not true. From my research from speaking with dealers and collectors they agree to about 120 different patches some common, some rare. So I see it as having 100 or so of each , and the rare ones I had less.

As a antique collectibles dealer and auctioneer , my personal thought about the patches going down. Really hasnt happend to much . And unless someone releases huge quantites they are not going to go down alot, as I will not release large amounts and let this happen. I would never want to hurt another dealers sales. I have many dealers buying them for their shops and they return to buy more all the time. The first batch listed went for hundreds (which were not mine) and after this prices stablized. One person writes about Japanese helmets went down and prices took 10 years to climb, well these are not helmets and there is more collectors of patches than Japanese helmets Im sure. Its like comparing an American silver coin to a British one place both on the table of equal value the american coin will outsell the latter.

 

These patches for any of you collectors or dealers is a once in lifetime hoard, as they are in pristine condition. As I stated I have but 50-150 of each , and the rarer ones are just about gone unless we find a few more. So anyone thinking of buying a few I would urge you to do so, I havent had any complaints from dealers or collectors other than Worldwarpatches, and alot of the dealers keep coming back so I am sure they are selling them in their shops or shows for a profit. I was never into patches but after doing this estate I found myself making a set or two of these loans to frame for myself . I thought it would make a great gift to one of my military friends.

 

The bottom line I hope I have set the record straight , I hope those of you thinking of buying from me do so. The patches are very reasonable priced and as i said they will run out at some point. I could say alot worse about Worldwarpatches but have decided to take a higher road

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