Coins and the Law

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North Carolina Joins 35 Other States with Sales Tax Exemption on Coins

North Carolina Joins 35 Other States with Sales Tax Exemption on Coins

By Industry Council for Tangible Assets …..   On Tuesday, July 25, 2017, North Carolina governor Roy Cooper signed into law House Bill 434: Coins/Currency/Bullion Sales Tax Exemption. The law is a complete sales-and-use tax exemption on coins, currency, and precious-metals bullion sales. “The bill’s author, Representative Dana Bumgardner, coauthors Representative Jeff Collins, Representative Mark […]

Gold & Silver PAC July 2017 e-Newsletter

Gold & Silver PAC July 2017 e-Newsletter

Gold & Silver American Eagle Coins By Scott Barman for the Gold & Silver PAC …..   From the Political Coordinator During a meeting of the Gold & Silver PAC at the National Money Show in March 2013, members were provided a chance to meet with Representative Steve Scalise (R-LA1), the Republican representative from New Orleans. […]

Louisiana Coins and Precious Metals Bullion Exemption Enacted

Louisiana Coins and Precious Metals Bullion Exemption Enacted

By Industry Council for Tangible Assets ….. Last year, the Louisiana legislature, facing a $900 million deficit, held a special legislative session and increased Louisiana’s 4% sales tax to 5%. In addition to increasing the state sales tax, it eliminated nearly all tax exemptions and exclusions–including numismatic coins and precious metals bullion exemptions–for three months, […]

Gold, Precious Metals & Bullion News – Minnesota Sales Tax Exemption Enacted

Gold, Precious Metals & Bullion News – Minnesota Sales Tax Exemption Enacted

By Industry Council for Tangible Assets …..   On May 30, 2017, Minnesota governor Mark Dayton signed into law omnibus bill H1A, which included a sales-tax exemption on precious-metals bullion. (An omnibus bill is a proposed law that covers many diverse or unrelated topics.) The new law will take effect on July 1, 2017. Minnesota […]

The U.S. Government Confiscates Ten Multi-Million Dollar Coins

The U.S. Government Confiscates Ten Multi-Million Dollar Coins

Opinion by Dr. Richard S. Appel – Unique Rare Coins ……   Mystery, intrigue and a see-saw legal battle has surrounded 10 1933 St. Gaudens $20 gold coins since their discovery in a family safe deposit box in 2002. The box originally belonged to Israel Switt, a long-time Philadelphia jeweler and coin dealer. He died […]

One Way or Another: New Legislation Seeks to Change America’s Circulating Coinage

One Way or Another: New Legislation Seeks to Change America’s Circulating Coinage

Two recent Republican bills aim to save taxpayers money By Hubert Walker for CoinWeek ….   Two new pieces of legislation have been introduced (in one instance, reintroduced) to Congress that seek to alter the landscape of our nation’s circulating coinage. COINS Act of 2017 Republican Senators John McCain (AZ) and Michael Enzi (WY) introduced […]

CoinWeek Podcast #66: Does the Dollar Coin Have a Future? – Audio

CoinWeek Podcast #66: Does the Dollar Coin Have a Future? – Audio

CoinWeek Podcast #66: Does the Dollar Coin Have a Future? – Audio Mobile phone users. Stream this podcast for free by downloading the podomatic app or subscribe to the CoinWeek Podcast on iTunes. This Week on the CoinWeek Podcast, editor Charles Morgan talks to Aaron Klein and Shawn Smeallie from the Dollar Coin Alliance. Smeallie is the […]

Cultural Property Overreach Encroaches on Collectors’ Rights

Cultural Property Overreach Encroaches on Collectors’ Rights

By Wayne Sayles – Ancient Coin Collecting ….   Cultural Heritage Lawyer Rick St. Hilaire, an apologist for cultural property nationalists and a critic of private ownership and trade in cultural property, has posted on his blog a quite lucid history of the Ancient Coin Collectors Guild (ACCG) experiences in District and Appellate Court over […]

Supreme Court Refuses to Hear Langbord-Switt 1933 Double Eagles Case

Supreme Court Refuses to Hear Langbord-Switt 1933 Double Eagles Case

By Hubert Walker for CoinWeek ….   It may have been Neil Gorsuch’s first day on the bench, but the real news Monday, April 17 (at least for coin collectors) is that the United States Supreme Court declined to hear the Langbord family’s appeal as they attempted to recover 10 1933 double eagle $20 gold […]

ICTA Names Industry Notables to Task Force Steering Committee, Forms Work Groups

ICTA Names Industry Notables to Task Force Steering Committee, Forms Work Groups

By Industry Council for Tangible Assets …..   The Industry Council for Tangible Assets (ICTA) has named an 11-member Steering Committee and has formed eight Work Groups to begin the work of its Anti-Counterfeiting Task Force (ACTF). ICTA created the Anti-Counterfeiting Task Force in January and named Beth Deisher as its director. ACTF’s mission is […]

Gold & Silver PAC April 2017 e-Newsletter

Gold & Silver PAC April 2017 e-Newsletter

By Scott Barman for the Gold & Silver PAC …..   From the Political Coordinator Partisanship on Capitol Hill has gone from bad to worse. The staunch partisanship that was limited to the members and senior staff has now infected staffs on all sides. Although there are a few people who will talk with members of […]

Cultural Property Law Leads to Arrests of Coin Collectors in Munich

Cultural Property Law Leads to Arrests of Coin Collectors in Munich

By CoinWeek Staff Reports ….   If the March 4 arrests of coin collectors and a coin dealer at the 50th Numismata in Munich are any indication, collectors in the United States have reason to fear that Germany’s new Cultural Property Protection law may live down to the predictions of those who signed last year’s […]

Gold & Silver PAC March 2017 e-Newsletter: Tax Edition

Gold & Silver PAC March 2017 e-Newsletter: Tax Edition

By Scott Barman for the Gold & Silver PAC …..   It’s tax time. Some expert tips to make sure you are in compliance with the law. Internet Sales Tax Although congress has not had any discussions about interstate sales taxes for cross-state purchases, the National Governors Association (NGA) did have some discussions about the issue […]

Virginia Becomes Latest State to Pass Rare Coin Sales Tax Exemption

Virginia Becomes Latest State to Pass Rare Coin Sales Tax Exemption

By John Brush – President, David Lawrence Rare Coins ……   To paraphrase Margaret Mead, a small group of thoughtful, committed citizens can make great change when working together. John Brush of David Lawrence Rare Coins and John Feigenbaum of the Coin Dealer Newsletter–along with lobbyist Stephen Haner and the Industry Council for Tangible Assets […]

Heritage Sues Christie’s for Copyright Infringement and Fraud

Heritage Sues Christie’s for Copyright Infringement and Fraud

By Hubert Walker for CoinWeek ….   On Monday, December 12, the Dallas-based coin and collectibles auction company Heritage Auctions announced that it was suing Christie’s auction house and its subsidiary Collectrium over multiple allegations of copyright infringement and computer fraud. Heritage had filed the lawsuit in the United States District Court in Dallas on […]

Gold & Silver PAC December 2016 e-Newsletter

Gold & Silver PAC December 2016 e-Newsletter

By Scott Barman for the Gold & Silver PAC …..   From the Political Coordinator I have been working for the federal government as a contractor since 1996 making this the sixth general election I have witnessed alongside the career professionals working federal agencies. While it is against the law and employment policies to be involved […]

CoinWeek News Wire for November 25, 2016

CoinWeek News Wire for November 25, 2016

By Coinweek ….   CoinWeek News Wire for November 25, 2016 Brain Food 1.) Q&A: Erik Goldstein Erik J. Goldstein is the senior curator of mechanical arts and numismatics at the Colonial Williamsburg Foundation and has been in this position since 2002. A student of military history and numismatics, he has lectured widely and instructs a […]

By November 25, 20160 Comments Read More →
Trump Quarters Show up in Change Days Before 2016 Election

Trump Quarters Show up in Change Days Before 2016 Election

By Hubert Walker for CoinWeek ….   People in a handful of cities across the United States have noticed something unusual about the change in their pockets. Quarters that feature the Republican Presidential nominee Donald J. Trump on the obverse have been found in San Francisco, Los Angeles, Amarillo, Texas and New York City. Above […]

US Mint News – Request for Comments on Coin Exchange Program

US Mint News – Request for Comments on Coin Exchange Program

For many years, the United States Mint has administered a program by which people and businesses could exchange bent and partial coins (commonly referred to as “mutilated coins”) for reimbursement. Bent coins are defined as U.S. coins which are bent or deformed so as to preclude normal machine counting but which are readily and clearly […]

By November 1, 20160 Comments Read More →
Gold & Silver PAC October 2016 e-Newsletter

Gold & Silver PAC October 2016 e-Newsletter

By Scott Barman for the Gold & Silver Political Action Committee …..   From the Political Coordinator Every four years we elect a president and vice president. By definition, elections are politically motivated exercises and candidates look to convince you to elect them and not their opponent. I used an opportunity to have a discussion […]

The Real Diehl: The Inside Story of the Sacagawea Dollar

The Real Diehl: The Inside Story of the Sacagawea Dollar

The Real Diehl is a select column by former United States Mint Director Philip N. Diehl, exclusively for CoinWeek …..   This series of articles will give readers an insider’s view of how Washington, DC, works (and doesn’t work) from my perspective as director of the U.S. Mint The complete story of how the Sacagawea dollar (aka, the Golden […]

Gold & Silver PAC August 2016 e-Newsletter

Gold & Silver PAC August 2016 e-Newsletter

By Scott Barman for the Gold & Silver Political Action Committee …..   From the Political Coordinator In my introduction to the August 2015 newsletter I said that “22 men and women have thrown their proverbial hats in the ring to become President of the United States.” One year later, we are down to two […]

Appeals Court Rules for U.S. Gov’t in Langbord 1933 Double Eagle Fight

Appeals Court Rules for U.S. Gov’t in Langbord 1933 Double Eagle Fight

By Hubert Walker for CoinWeek ….   A little over one year after the Philadelphia United States Attorney’s Office filed a petition with the Third Circuit Court of Appeals on behalf of the U.S. Government to rehear the case of Langbord et al v. U.S. Department of Treasury et al (Case No. 12-4574), the en […]

Wealthy Max Presents Motion to Dismiss in Civil Forfeiture Case

Wealthy Max Presents Motion to Dismiss in Civil Forfeiture Case

By Wealthy Max Ltd …..   The Wealthy Max Limited legal defense team from GeyerGorey LLP, represented by Robert Connolly, presented the arguments behind its motion to dismiss the civil forfeiture case brought by the US Attorney for the District of New Jersey. The hearing was held in the courtroom of Judge Juan R. Sanchez, […]

Ohio Governor Kasich Signs Sales Tax Exemption Legislation

Ohio Governor Kasich Signs Sales Tax Exemption Legislation

OPMA-Led State Effort Pays Off After Three Years By Industry Council for Tangible Assets …..   On June 14, 2016, Ohio governor John Kasich signed into law SB 172, which provides for a sales-tax exemption on rare coins and precious-metals bullion. The new law will take effect on January 1, 2017. Ohio becomes the 34th […]

Gov. Kasich Signs Bill Resuming Ohio Coin, Bullion Sales Tax Exemption

Gov. Kasich Signs Bill Resuming Ohio Coin, Bullion Sales Tax Exemption

By CoinWeek News Staff ….   On Tuesday, June 14, former Republican Party presidential hopeful and current governor of Ohio John Kasich signed a bill that restores a tax exemption on the sale of precious metal bullion and “investment” coins that was repealed in the wake of the Coingate scandal in 2005. The newly-resurrected exemption […]

ICTA: Minnesota Law Targeting Coin Dealers Amended

ICTA: Minnesota Law Targeting Coin Dealers Amended

ICTA Led Industry Effort Revises Most Troublesome Aspects of State Law By Industry Council for Tangible Assets ……   Minnesota governor Mark Dayton (D) recently signed the Minnesota SF 3175: Bullion Product Dealers Regulation Authorization, culminating major legislative effort led by the Industry Council for Tangible Assets (ICTA) to reform the most troublesome law for […]

Ron Drzewucki’s Bullion Sales Tax Series, State by State: Pt. 4

Ron Drzewucki’s Bullion Sales Tax Series, State by State: Pt. 4

By Ron Drzewucki – www.moderncoinwholesale.com …..   Links to Part 1 | Part 2 | Part 3 In the U.S., sales tax is levied on a state and local level, so there is no one rule that fits all precious metal purchases. The complications wrought by conflict between the tax laws applying to the buyer […]

Gold & Silver PAC May 2016 e-Newsletter

Gold & Silver PAC May 2016 e-Newsletter

By Scott Barman for the Gold & Silver Political Action Committee …..   From the Political Coordinator This past month, I had the opportunity to visit Capitol Hill. Rather than speaking with the members, staffers, and other policy wonks, I had the opportunity to sit with old friends who work in the agencies that supports […]

U.S. Mint News – United States Extends Suspension of Coin Exchange Program

U.S. Mint News – United States Extends Suspension of Coin Exchange Program

Under the authority of 31 U.S.C. 5120, the United States Mint established a program by which people and businesses could exchange bent and partial coins for reimbursement. Fused or mixed coins cannot be redeemed by the United States Mint. On November 2, 2015, the United States Mint suspended the exchange program for a period of […]

 
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