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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By Money Metals Exchange …… With the stroke of Governor Tate Reeves’s (R) pen on Wednesday, April 19, Mississippi has become the 43rd state in the country to end sales taxes on the purchase of physical gold, silver, platinum, and palladium coins and bullion. Senate Bill 2862, sponsored by State Senator Juan Barnett (D-34), had […]
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By Money Metals Exchange …… With the stroke of Governor Tate Reeves’s (R) pen on Wednesday, April 19, Mississippi has become the 43rd state in the country to end sales taxes on the purchase of physical gold, silver, platinum, and palladium coins and bullion. Senate Bill 2862, sponsored by State Senator Juan Barnett (D-34), had […]
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By Money Metals Exchange …… With the stroke of Governor Tate Reeves’s (R) pen on Wednesday, April 19, Mississippi has become the 43rd state in the country to end sales taxes on the purchase of physical gold, silver, platinum, and palladium coins and bullion. Senate Bill 2862, sponsored by State Senator Juan Barnett (D-34), had […]
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By Stefan Gleason – Money Metals Exchange …… Responding to overwhelming grassroots support over the last three years, lawmakers in the Kentucky House of Representatives have voted today, March 9, 2023, to end the state’s controversial practice of imposing sales taxes on all purchases of precious metals. House Bill 360 (PDF Link), a sweeping sales […]
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By Stefan Gleason – Money Metals Exchange …… State lawmakers of both houses have just voted overwhelmingly to exempt physical gold, silver, platinum, and palladium coins and bullion from the Mississippi state sales tax, sending the bill to Governor Tate Reeves (R) for his signature. Senate Bill 2019 (PDF link), sponsored by Senator Chad […]
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By Stefan Gleason – Money Metals Exchange …… State lawmakers of both houses have just voted overwhelmingly to exempt physical gold, silver, platinum, and palladium coins and bullion from the Mississippi state sales tax, sending the bill to Governor Tate Reeves (R) for his signature. Senate Bill 2019 (PDF link), sponsored by Senator Chad […]
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By Stefan Gleason – Money Metals Exchange …… With Governor Bill Lee’s (R) signature on Friday, Tennessee has officially become the 42nd state in the United States to remove sales taxes from constitutional sound money (i.e., gold and silver). Tennessee’s House Bill 1874 and Senate Bill 1857, introduced by Representative Bud Hulsey (R-2) and Senator […]
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By Stefan Gleason – Money Metals Exchange …… Both houses of the Tennessee legislature yesterday overwhelmingly passed bills that would make the Volunteer State the 42nd state in the U.S. to remove sales taxes from constitutional sound money (i.e., gold and silver). Tennessee’s House Bill 1874 and Senate Bill 1857, introduced by Representative Bud Hulsey […]
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By Stefan Gleason – Money Metals Exchange …… With Governor Kay Ivey’s signature on sound money legislation today, Alabama has become the second state this year to expand its sales tax exemption involving gold and silver. Alabama Senate Bill 13, championed by State Senator Tim Melson (R) and Representative Jamie Kiel (R-18), passed with unanimous […]
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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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In light of the Supreme Court’s South Dakota v. Wayfair decision, what would it mean for your business to be free of the burden of collecting sales tax on the coins, currency, and precious-metals bullion you sell? Even if your business is not located in one of the states below, if any of your customers–be […]
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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 Industry Council for Tangible Assets …… On Tuesday, March 6, 2018, Alabama governor Kay Ivey signed into law Senate Bill 156 to exempt the gross proceeds from the sales of gold, silver, platinum, and palladium bullion, and money from sales and use tax for five years. The law is a sales-and-use tax exemption on […]
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Coin Taxes – Congress is preparing to make changes to the taxation of “like-kind” exchanges that may effect you and your clients coin collections and the buying and selling coin and bullion products. By Industry Council for Tangible Assets (ICTA) …… The US House and Senate have included in their tax bills revisions to the […]
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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 …. CoinWeek News Wire for June 9, 2017 Brain Food 1.) Vikings knew how to maintain trust in their money By the 880s the Vikings had taken over the territory of all but the West Saxons but they provided their subjugated peoples with money they knew – in the form of imitations of […]
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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 becomes […]
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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 the […]
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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 (ICTA)–have […]
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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 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 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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A coalition of numismatic businesses, led by John Feigenbaum (David Lawrence Rare Coins), lobbyist Stephen Haner, and the Industry Council for Tangible Assets (ICTA), started working together last summer on legislation to exempt rare coins, paper money, and precious metals from Virginia’s sales and use taxes. In this year’s legislative session, HB 1648 (sponsored by […]
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