Category Archives: Coins & the Law

Collecting Ancient Coins: Time to Consider a New Paradigm That Facilitates Lawful Trade

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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Gold & Precious Metals News: Ohio Budget Kills Sales-Tax Exemption for Bullion, Coins

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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Kansas Governor Signs Sales Tax Exemption on Gold, Silver Coins, Precious Metals Bullion

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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West Virginia Legislature Votes to End Sales Tax on Gold & Silver

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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Coin Industry News: 2018 Diane Piret Award, Promotion at Heritage Currency

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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Gold & Silver Political Action Committee May 2018 e-Newsletter

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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Gold & Silver PAC May 2018 e-Newsletter

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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The 1933 Double Eagle: America’s Most Notorious Coin

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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COINS Act to Reform US Currency Gains New Support in Congress

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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COINS Act to Reform US Currency Gains New Support in Congress

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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CoinWeek News Wire for July 21, 2017: The Hobby Under Fire, Endangered Cash, & Coin Crime

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 […]

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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, […]

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

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

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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CoinWeek News Wire for April 14, 2017

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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CoinWeek News Wire for April 14, 2017

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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Gold & Silver PAC February 2017 e-Newsletter

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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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 […]

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Bullion & Precious Metals News – ICTA Names New Officers

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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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 representing […]

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

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 […]

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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, […]

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Gold & Silver PAC July 2016 e-Newsletter

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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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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Wealthy Max Ltd – FormerFeds Group Issues Mutilated Coin Redemption Program White Paper

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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Ron Drzewucki’s Bullion Sales Tax Series, State by State: Pt. 3

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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CoinWeek’s Weekly News Roundup – March 4, 2016

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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Ron Drzewucki’s Bullion Sales Tax Series, State by State: Pt. 2

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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Tips for Buyers of Ancient Coins

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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U.S. Mint May Now Change Coin Silver Composition Thanks to New Law

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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Coins and the Law – On Second Thought—a chance for rule of law?

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 […]

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