Category Archives: lobbying

Bullion Legislation News, bullion precious metals, Bullion Taxes, California, California Sales Tax, Coins and the Law, Featured Bullion, lobbying, National Coin and Bullion Association, Precious Metals News, Recent Articles & Video, Taxes on Coins

California Resolves Coin, Bullion Sales Tax Issue With Legislation

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By National Coin and Bullion Association (NCBA) …… Last week, Senate Bill 889 (SB 889) reached the desk of California Governor Gavin Newsom for his signature, bringing an end to a three-month negotiation between the California Coin and Bullion Merchant Association (CCBMA) and the California Department of Tax and Fee Administration (CDTFA). The legislation addresses […]

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Bullion Legislation News, bullion precious metals, Bullion Taxes, California, California Sales Tax, Consumer Alert, Featured Bullion, lobbying, National Coin and Bullion Association, Precious Metals News, Press Releases, Recent Articles & Video, Taxes on Coins

California Coin and Bullion Sales and Use Tax Regulation Changed

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By National Coin and Bullion Association (NCBA) …… The state of California has increased its exemption threshold for sales and use tax on bulk sales of monetized bullion, nonmonetized gold or silver bullion, and numismatic coins, effective January 1, 2023. With higher inflation rates in 2022, regulations stipulated that the threshold adjust from $1,500 to […]

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Coins and the Law, Collector Coins, Commemorative Coin Legislation, Commemoratives, Featured Modern, Home Page Commemoratives, Home Page Modern, lobbying, Modern Coins, Modern Commemoratives, Modern US Coins, NASCAR, National Coin and Bullion Association, NCBA, Numismatic Industry Coinage Advisory Committee, Proposed US Commemorative Coins, Recent Articles & Video, US Commemoratives

National Coin & Bullion Association Lobbies for NASCAR Coin

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By National Coin and Bullion Association (NCBA) …… The Numismatic Industry Coinage Advisory Committee (NICAC) is excited to announce that a bill supporting the first of its 2023 recommendations has been introduced to Congress. U.S. Representative Garret Graves (R-LA6) has agreed to sponsor and champion H.R.2838, the National Association for Stock Car Auto Racing (NASCAR) […]

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Arkansas Removes Taxes on Gold and Silver

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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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Bullion Legislation News, bullion precious metals, Bullion Taxes, Coin Dealer News, Coin Taxes, Coins and the Law, Dealer News, Home Page Bullion, legislation, lobbying, Mississippi, Money Metals Exchange, Precious Metals, Precious Metals Lobby, Precious Metals News, Recent Articles & Video, Sales Tax, Sound Money Defense League, tax exemption, taxes, Taxes on Coins

Mississippi Ends Sales Tax on Gold and Silver

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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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Mississippi Ends Sales Tax on Gold and Silver

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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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Mississippi Ends Sales Tax on Gold and Silver

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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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New National Coin & Bullion Association Website Launched

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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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Kentucky House Votes to End Sales Tax on Gold, Silver

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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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Mississippi Legislature Votes to End Sales Tax on Gold and Silver

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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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Mississippi Legislature Votes to End Sales Tax on Gold and Silver

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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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Collecting Ancient Coins in an Era of Import Restrictions

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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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Anti-Counterfeiting Educational Foundation Warns: Hundreds of Websites Selling Fake Coins

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ACEF warns of fake “precious metal” and “rare coins” offered online, and helps a Texas investor who became an unsuspecting victim   Looking to buy gold and silver, “Oliver”, an investor in Texas, responded to advertisements on Facebook from two companies that touted exceptionally low “introductory offer” prices for silver and gold bullion coins. He […]

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Tennessee Governor Signs Full Repeal of Sales Taxes on Gold and Silver

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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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Tennessee to Become 42nd State to End Sales Taxes on Gold and Silver

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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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Alabama Expands, Extends Sales Tax Exemption Involving Gold and Silver

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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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Virginia Bullion Sales-Tax Exemption Extended and Threshold Removed

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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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ACEF Concerns Included in Federal Review of Counterfeiting & Piracy Markets

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The sale of counterfeit U.S. coins and precious metals on e-commerce platforms and third-party marketplaces continues to escalate and the number of victims proves to be a highly lucrative and profitable business for counterfeiters. “Unfortunately, victims across the country are falling prey to the unscrupulous marketing tactics, which result in financial losses,” said Doug Davis, […]

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Precious Metals Service Awards Given to Arkansas, Ohio Coin Dealers

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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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Bullion & Metals, Clubs & Organizations, coin and the law. ICTA, Concerned Collectors Coalition, Dealers and Companies, Home Page Bullion, Home Page Clubs, ICTA, ICTA - Legislation and Taxes, Industry Council for Tangible Assets, lobbying, National Coin and Bullion Association, NCBA, organizations, Precious Metals, Precious Metals Lobby, Precious Metals News, Press Release, Recent Articles & Video

New Concerned Collectors Coalition to Replace NCBA Patron Membership

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The National Coin & Bullion Association (NCBA) is replacing our Consumer Patron-level membership with a new, free membership dedicated to collectors. The Concerned Collectors Coalition is specifically for individuals whose primary source of income is not generated by the sale of numismatic materials. Concerned Collectors Coalition members receive a membership certificate and the association’s quarterly […]

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Coin Dealers: Protect Your Business From State Greed

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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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Ohio Budget Bill Reinstates Investment Bullion and Coin Sales Tax Exemption

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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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NCBA Seeks Dealer Data to Help Combat State Efforts Against Bullion Sales Tax Exemptions

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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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Coin and Bullion Dealers, Tell Congress to Support Changes to AML Act of 2020

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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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ICTA Announces New Executive Director

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On Tuesday, December 8, the Industry Council for Tangible Assets (ICTA) announced that Jimmy Hayes will step down as executive director at the end of the year, and its board of directors has appointed David Crenshaw as the new executive director, effective January 1, 2021. Of the change, Hayes said, “I have very much enjoyed […]

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

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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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ICTA Gives Service Award to Kansas Dealer Dean Schmidt

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By Industry Council for Tangible Assets …… Industry Council for Tangible Assets (ICTA) dealer-member Dean Schmidt (Dean Schmidt Rare Coins, Atchison, Kansas) was honored during the ICTA dinner and update at Tony Roma’s in Orlando, Florida, on January 8 as the recipient of the 2019 Diane Piret Memorial Outstanding Service Award for his efforts to […]

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Wyoming, Texas, Utah Top 2019 Sound Money Index — Vermont, Arkansas, New Jersey Among the Worst States

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Precious Metals Dealer, Sound Money Group Rank the 50 States’ Gold and Silver Policies   By Money Metals Exchange …… “Is Your State Destroying Your Money?” asks the Sound Money Defense League and Money Metals Exchange with the release of the 2019 Sound Money Index. The index is the first index of its kind, ranking […]

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ICTA Installs New Treasurer and Secretary, Patrick A. Heller Honored

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By Industry Council for Tangible Assets (ICTA) …… Patrick A. Heller was honored during the Industry Council for Tangible Assets  dinner in Rosemont, Illinois, on August 14. He is stepping down as treasurer after 17 years of service. Heller will continue to serve as a director and ICTA’s states’ sales-tax exemption guru. “It has been […]

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Calling All Collectors: Support the 2021 Morgan & Peace Silver Dollar Centennial Commemorative Coin Bill

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Silver Dollar Commemorative Support By Pennsylvania Association of Numismatists (PAN) …… The Pennsylvania Association of Numismatists (PAN) is calling on all fellow coin collectors to contact their United States Congressional Representatives to co-sponsor the H.R. 3757 Silver Dollar Commemorative legislation. This House Bill will require the Secretary of the Treasury to mint coins in commemoration […]

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

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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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Harriet Tubman $20 Note Postponed Until 2028

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By Hubert Walker for CoinWeek …. Confirmation one way or the other of the Trump Administration’s plans for the Harriet Tubman $20 Federal Reserve Note have been a long time coming. But on Wednesday, May 22, Treasury Secretary Steven Mnuchin finally announced that the release of designs for the new $20 bill has been pushed […]

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Gold & Silver PAC News – April/May 2019: Online Sales Tax Collection

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By John Villavicencio for the Gold & Silver PAC ……   Gold & Silver News From the Political Coordinator   April showers bring… taxes The tax filing deadline for 2018 has come and gone, but what do you need to know for your 2019 taxes? If you sell on eBay or do business in California, keep […]

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

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

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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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Internet Sales Tax? Supreme Court Ruling Alarming

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  Numismatists should be worried about how the hobby will be affected by a labyrinth of tax rules By Jeff Garrett for Numismatic Guaranty Corporation (NGC) …… Several months ago, I received the dreaded letter from the State of Kentucky notifying me that my company would be undergoing a four-year sales tax audit. Even though […]

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Gold & Silver Political Action Committee May 2018 e-Newsletter

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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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Gold & Silver PAC May 2018 e-Newsletter

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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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Precious Metals & Bullion News – Wyoming Ends All Taxation of Gold & Silver

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By Money Metals Exchange …… Sound money activists rejoiced as the Wyoming Legal Tender Act (PDF) became law today. The bill restores constitutional, sound money in Wyoming. Backed by the Sound Money Defense League, Campaign for Liberty, Money Metals Exchange, and in-state grassroots activists, HB 103 removes all forms of state taxation on gold and […]

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Alabama Becomes 37th State with Bullion Sales Tax Exemption

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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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Gold & Silver PAC January 2018 e-Newsletter:

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By Scott Barman for the Gold & Silver PAC ….. Gold & Silver News From the Political Coordinator HAPPY NEW YEAR! A new year not only marks the beginning of the year but also a chance for a new beginning. For states whose legislature is part-time based on the state constitution, the sessions begin in earnest […]

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ICTA News: Exercise Caution with Gold IRA Home Storage, NC Dealer Wins Award

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By Industry Council for Tangible Assets ….. Investors Should Exercise Caution Investing in Gold Individual Retirement Account with Home Storage Some precious-metals bullion dealers recently have been advertising “home storage” as a legal and beneficial option for storing bullion that may be invested in a gold individual retirement account (IRA). The “home storage” concept may conflict […]

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CoinWeek News Wire for December 29, 2017: Fake $100s, What is Crypto, Trump Challenge Coin

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By Coinweek …. CoinWeek News Wire for December 29, 2017 Brain Food 1.) The economics of the Bitcoin payment system Unlike other payment systems, Bitcoin is a two-sided platform with pre-specified rules. Its two main constituencies are the users who hold balances and engage in electronic transactions, and miners who maintain the system’s infrastructure. A […]

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Confused Over GOP Tax Legislation and Like-Kind Exchanges? ICTA Can Help

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By Industry Council for Tangible Assets ….. There is misinformation floating out around the dealer community intermingling “like-kind exchanges” and three different sections of the tax code (1031, 1099-b and bartering). The Industry Council for Tangible Assets (ICTA) has produced a white paper which goes into detail providing a comprehensive explanation of each section of […]

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Gold & Silver PAC December 2017 e-Newsletter: GOP Tax Bill Alert

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By Scott Barman for the Gold & Silver PAC ….. Gold & Silver News From the Political Coordinator The most talked about and most complicated bill to analyze has been H.R. 1, the Tax Cuts and Jobs Act. While a lot of information has been talked about in the media, there have been many groups behind […]

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Congressmen Press U.S Mint for Action on Counterfeit Gold, Silver Coins

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By Money Metals Exchange ……   Members of the U.S. House of Representatives Alex Mooney (R-WV2) and Frank Lucas (R-OK3) delivered a formal letter to the United States Mint and Secret Service on Friday, urging aggressive action on the growing problem of high-quality counterfeits of U.S. precious metals coins entering the country from China and […]

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COINS Act to Reform US Currency Gains New Support in Congress

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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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COINS Act to Reform US Currency Gains New Support in Congress

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

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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 Brody, […]

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Meet Former Mint Director Philip Diehl at ANA World’s Fair of Money

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By Industry Council for Tangible Assets (ICTA) …… Meet former U.S. Mint director Philip N. Diehl in person at the 2017 American Numismatic Association (ANA) World’s Fair of Money in Denver! From Diehl’s creation of the popular 50 State Quarters program to his launch of the first-ever U.S. government–issued platinum coin, he is considered one […]

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Bullion & Precious Metals Organization ICTA Launches Facebook Page

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The Industry Council for Tangible Assets is now on Facebook. The association’s new social media site is a place where visitors can learn more about the association and members can stay up to date on association activities. “Facebook is a great way to highlight the breadth of the work that ICTA does,” said  chief operating […]

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Gold & Silver PAC July 2017 e-Newsletter

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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. Scalise […]

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Louisiana Coins and Precious Metals Bullion Exemption Enacted

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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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Virginia Becomes Latest State to Pass Rare Coin Sales Tax Exemption

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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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Gold & Silver PAC October 2016 e-Newsletter

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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 about […]

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ICTA Welcomes New Team Member

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By Industry Council for Tangible Assets ….. The Industry Council for Tangible Assets (ICTA) is expanding its team with legal and legislative-affairs expertise. Effective October 3, Jonathon Villavicencio (Sacramento, California) became the association’s legislative-affairs coordinator. John brings ICTA his expansive knowledge of legislative and regulatory processes, having spent the past two years working as a […]

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Precious Metal News – Virtual Gold Treasure Hunt to Engage Community at Elizabeth Quay

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  On August 2, 2016, the Gold Industry Group announced a long-term, community engagement project in the Perth CBD, which is expected to attract millions of students, tourists and families. The Heart of Gold Discovery Trail and gold panning activity in Elizabeth Quay will provide a fun and interactive way for visitors to learn about […]

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Bullion & Precious Metals News – ICTA Names New Officers

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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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