By Money Metals Exchange …… House Bill 1718, the Arkansas Legal Tender Act, has become the law in the “Natural State”. Backed by sound money advocates and supporters throughout the state and nation, HB 1718 reaffirms gold and silver as legal tender, as well as ends all taxes on the purchase, sale, or exchange of […]
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NCBA, or the National Coin & Bullion Association (the trade name for the Industry Council for Tangible Assets or “ICTA“), has officially launched our new website — ncbassoc.org. “We believe the new website will be a benefit to NCBA members, providing many new improvements in an updated and smart-looking fashion. The site is user friendly, […]
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By Tyler Rossi for CoinWeek ….. Ask a collector of ancient coins if they have ever bought a coin from an overseas vendor, and you will more likely than not receive a positive response. And while many collectors will have never experienced a problem with Customs, everyone will have heard at least a few horror […]
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By National Coin & Bullion Association (NCBA) …… On March 2, Virginia governor Glenn Youngkin signed House Bill 3, which extends the sunset date for the sales-tax exemption on gold, silver, and platinum bullion and legal tender coins to June 30, 2025. Under the previous law, the exemption would have expired on June 30, […]
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By Jp Cortez – Money Metals Exchange …… Last year was a good year for state-level sound money legislation across the United States. 2022 could be even better. Building on the success enjoyed by sound money advocates in Arkansas and Ohio last year, more than a half dozen states are now considering legislation that rolls […]
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By National Coin & Bullion Association (NCBA) …… The National Coin & Bullion Association (NCBA) dealer-members Dan Hedges (Auro Industries in Little Rock, Arkansas) [Left] and David Miholer (The Executive Coin Company in Stow, Ohio) [Right] have received the association’s 2021 Diane Piret Memorial Outstanding Service Award for their continuous dedication and financial contributions to […]
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By Jp Cortez – Money Metals Exchange …… On Thursday, January 20, an Oklahoma state representative introduced legislation that would enable the State Treasurer to protect Sooner State funds from inflation and financial risk by holding physical gold and silver. Introduced by State Representative Sean Roberts (R-36), HB 3681 would include physical gold and silver, […]
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The Ohio 2022–2023 budget reinstates the sales tax exemption for the purchases of investment metal bullion and investment coins that was eliminated in the previous budget. Two bills, House Bill 268 and House Bill 110, had the possibility of reinstating the exemption, with the budget bill, HB110, succeeding. The Ohio Senate Finance Committee and Ohio […]
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The National Coin & Bullion Association (NCBA) is fighting to preserve sales-tax exemptions on coins, paper money, and precious-metals bullion in 39 states, and we are also working to gain such an exemption in the 11 states that do not currently have one. We are currently seeking 400 coin and precious metals dealers to take […]
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By Industry Council for Tangible Assets …… The Anti-Money Laundering Act of 2020 became law on January 1, 2021, and Congress is currently developing many specific regulations related to the act. Several components of the new law that are still to be finalized will directly impact the numismatic and bullion industry, including: Raising the minimum […]
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Coin Collectors, Precious Metal Investors Fight MN Requirement to be Licensed and Bonded for Transactions Over $25K A group of small business investors and coin enthusiasts are suing the State of Minnesota in an effort to decriminalize their small-cap alternative investment and collection pursuits. A September 22, 2020, online press conference addressed this lawsuit […]
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By Peter K. Tompa – Cultural Property Observer….. The following is a statement delivered at the Wednesday, July 22 meeting of the Cultural Property Advisory Committee (CPAC) by lawyer and numismatic advocate Peter K. Tompa concerning proposed updates to the 2021 renewal of the Memorandum of Understanding (MOU) with Italy. These updates threaten American collectors’ […]
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By Industry Council for Tangible Assets (ICTA) …… ICTA member Dave Miholer (Executive Coin Company, Stow, Ohio) brought to our attention in May that the Ohio 2020–2021 budget eliminated the sales-tax exemption on the purchases of investment metal bullion and investment coins. The budget plan also directs the state to begin collecting sales taxes on […]
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By Industry Council for Tangible Assets …… On Thursday, May 16, 2019, Kansas governor Laura Kelly (D) signed into law House Bill 2140, which provides a sales-tax exemption on sales of gold and silver coins and on all gold, silver, platinum, and palladium bullion. “The outcome is not everything we started with in the original […]
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By Sound Money Defense League …… Sound money advocates rejoiced on Friday, March 8 as the state legislature of West Virginia overwhelmingly passed Senate Bill 502 and sent it to Governor Jim Justice for his signature. First passed unanimously in the West Virginia Senate last month, the measure removes state sales taxation of precious […]
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Alabama Coin Dealers Honored With Diane Piret Service Award By Industry Council for Tangible Assets …… Industry Council for Tangible Assets (ICTA) dealer-members Phil Darby (J&P Coins and Currency, Helena, Alabama) and Steve Caiola (Alabama Gold Refiner, Homewood, Alabama) were honored during the ICTA dinner and update at FishBones, Orlando, Florida, on January 9 as […]
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By John Villavicencio for the Gold & Silver Political Action Committee…… Gold & Silver Political Action Committee News Update on Candidate Steve Bieda Last month the Gold & Silver Political Action Committee reported that we were supporting Steve Bieda (D) in his race for Michigan State Senator. In the fast-moving world of politics, the only thing certain […]
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By John Villavicencio for the Gold & Silver PAC …… Gold & Silver News From the Political Coordinator Update on Candidate Steve Bieda Last month we reported that we were supporting Steve Bieda (D) in his race for Michigan State Senator. In the fast-moving world of politics, the only thing certain is change. Steve withdrew from […]
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By Eric Brothers for CoinWeek ….. If you ever thought that it would be cool to own a 1933 Double Eagle, think again. The handful of people who have “owned” specimens of the notorious coin have been famously unlucky. But what’s so unlucky about owning one of the most coveted American coins struck in the […]
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Would Provide $16 Billion in Budget Savings By Dollar Coin Alliance …… Three Members of Congress have signed on as co-sponsors of the bipartisan Currency Optimization, Innovation, and National Savings (COINS) Act of 2017 (H.R. 2299), an effort that will modernize U.S. currency in order to save American taxpayers at least $16 billion. Rep. Mike […]
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Would Provide $16 Billion in Budget Savings By Dollar Coin Alliance …… Three Members of Congress have signed on as co-sponsors of the bipartisan Currency Optimization, Innovation, and National Savings (COINS) Act of 2017 (H.R. 2299), an effort that will modernize U.S. currency in order to save American taxpayers at least $16 billion. Rep. […]
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By Coinweek …. CoinWeek News Wire for July 14, 2017: The War on Cash 2: This Time It’s Personal 1.) ‘CASH ESSENTIAL TO PERSONAL FREEDOM’ – EUROPEANS PUSH BACK The biggest cited concern for respondents was the threat the cash restrictions would pose to privacy and personal anonymity. A total of 87% of respondents viewed […]
The post CoinWeek News Wire for July 21, 2017: The Hobby Under Fire, Endangered Cash, & Coin Crime appeared first on CoinWeek.
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, […]
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By CoinWeek News Staff …. 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 coins seized […]
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By CoinWeek News Staff …. 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 coins […]
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By Coinweek …. CoinWeek News Wire for April 7 2017 Brain Food 1.) Test How Much You Know About Bitcoin As the world’s monetary systems teetered on the edge in late 2008, some computer whizzes sought a digital solution. As Lehman Brothers lay dying, a math-based, completely digital means of exchange known as bitcoin was […]
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By Coinweek …. CoinWeek News Wire for April 14 2017 Brain Food 1.) Test How Much You Know About Bitcoin As the world’s monetary systems teetered on the edge in late 2008, some computer whizzes sought a digital solution. As Lehman Brothers lay dying, a math-based, completely digital means of exchange known as bitcoin […]
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By Scott Barman for the Gold & Silver PAC ….. From the Political Coordinator As I was sitting down to talk with an old friend over coffee, he turns to me and says, “I think frankly when it comes to chaos you ain’t seen nothing yet.” This Washington veteran, who began his career as an intern […]
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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 […]
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By Industry Council for Tangible Assets …… At its Board of Directors meeting last week in Anaheim, California, the Industry Council for Tangible Assets (ICTA) installed its new officers for 2016–2018. Former U.S. Mint director Philip N. Diehl, currently the president of U.S. Money Reserve in Austin, Texas, was named as the new chairman. Diehl […]
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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 representing […]
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By CoinWeek News Staff …. Exactly 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 banc court issued […]
The post Appeals Court Rules for U.S. Gov’t in Langbord 1933 Double Eagle Fight appeared first on CoinWeek.
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, […]
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By Scott Barman for the Gold & Silver Political Action Committee ….. From the Political Coordinator This newsletter begins my fifth year of reporting the politics and policies of the numismatics and precious metals market for the Gold and Silver Political Action Committee. At the end of June, I ended a temporary assignment working with […]
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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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Recommends U.S. Mint Require Tougher Compliance Program for Coin Redeemers By FormerFeds Group, LLC ……. The FormerFeds Group, LLC today announced the release of its White Paper on the U.S. Mint’s Mutilated Coin Redemption Program including recommendations to improve coin redemption procedures. This program was suspended by the Department of the Treasury in November 2015 […]
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By Ron Drzewucki – www.moderncoinwholesale.com….. Link to Part 1 | Part 2 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 versus the tax code […]
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By Coinweek …. Here is a recap of some of the interesting, offbeat and other news items CoinWeek has come across this week. Brain Food 1.) The Evolution of Money Alex Hernandez, tech writer and founder of smartphone and computer technology site Techaeris.com, writes a brief introduction to the history of money and monetary payment […]
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By Ron Drzewucki – www.moderncoinwholesale.com….. 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 versus the tax code applicable in the dealer’s location is inefficient and […]
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By Wayne Sayles – Ancient Coin Collecting…. Some ACCG (Ancient Coin Collectors Guild) members have asked what they can do to assure that the purchases they make are legal. One might theoretically ask the same question about many objects or substances that are traded domestically and internationally. The ACCG web site offers a few […]
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By CoinWeek News Staff…. Tucked away in a bill ostensibly about maintaining and improving America’s transportation infrastructure is text amending Title 31 of the United States Code (subsections of §§ 5112 and 5132) to allow the U.S. Mint to alter the composition of some of its silver coinage. Until the DRIVE (“Developing a Reliable and […]
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By Wayne Sayles – Ancient Coin Collecting Blog ……….. The SAFE endorsement of Britain’s Article 11c of Council Regulation (EU) No 36/2012 at first blush might seem lacking in forethought. Here we have major cultural sites being demolished wholesale by civil war in Syria and Britain responds by prohibiting import, export and transfer of Syrian […]
The post Coins and the Law – On Second Thought—a chance for rule of law? appeared first on CoinWeek.