ICTA - Your Industry Watchdog | News
Investors Should Exercise Caution Investing in IRA Home Storage

IRA DollarSome precious-metals bullion dealers recently have been advertising “home storage” as a legal and beneficial option for storing bullion that may be invested in an individual retirement account (IRA).

The “home storage” concept may conflict with the laws that allow for tax-advantaged IRA investments.

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North Carolina Dealer Honored with Service Award

Mitch Hyatt Honored with Service AwardIndustry Council for Tangible Assets dealer member Mitch Hyatt (Hyatt Coin and Gun Shop, Charlotte, North Carolina) was honored during the ICTA dinner and update cruise aboard the Yacht StarShip II in Tampa, Florida, on January 3 as the recipient of the 2017 Diane Piret Memorial Outstanding Service Award.

In the fall of 2016, Hyatt started collaborating with ICTA on a campaign to obtain a state coin, currency, and precious-metals bullion sales-tax exemption. Hyatt hired Chris Emanuel (C.G. Emanuel Group, Charlotte, North Carolina) as the campaign’s lobbyist. He also paid 100% of ICTA’s expenses in aiding the campaign.

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Donate Coins and Join the Battle Against Counterfeiters!

1923 Saint-Gaudens Double ($20) EagleHeritage Auctions is teaming with the Industry Council for Tangible Assets to provide a way for both collectors and dealers to enlist in the battle against counterfeiters by donating coins to be sold at public auction to support the work of ICTA’s Anti-Counterfeiting Task Force.

“We are excited to have Heritage as a partner in this enormously important endeavor,” said ICTA Chairman Philip N. Diehl. “ACTF has made great strides in its first year, but it will need substantial funding to expand its  scope of work in 2018.”

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Transportation and Shipping Security Seminar

Loomis ArmoredA Loomis Armored representative will discuss transportation and shipping security at the upcoming Florida United Numismatists show. The Industry Council for Tangible Assets will host the seminar. The seminar begins at 8:30 a.m. on Friday, January 5, 2018, at the Tampa Convention Center, 333 South Franklin Street, Tampa, Florida, in room 24. A continental breakfast sponsored by Loomis will be provided.

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Confused Over Proposed Tax Legislation and Like-Kind Exchanges?

Capitol HillThere 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 has produced a white paper which goes into detail providing a comprehensive explanation of each section of the tax code. The purpose of the paper is to try and make it as simple as possible to understand.

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