ICTA - Your Industry Watchdog | News
Virginia Sales-Tax Exemption Extended and Threshold Removed

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, 2022.

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ACEF Concerns Included in Federal Government’s Review of Notorious Markets for Counterfeiting & Piracy

office of u.s. trade representativeThe 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.

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Arkansas and Ohio Coin Dealers Receives Service Awards

The National Coin & Bullion Association dealer-members Dan Hedges (Auro Industries, Little Rock, Arkansas) and David Miholer (The Executive Coin Company, Stow, Ohio) have received the association’s 2021 Diane Piret Memorial Outstanding Service Award for their continuous dedication and financial contributions to obtaining a sales-tax exemption on sales of collector coins, bullion coins, bullion, and currency in the state of Arkansas and reinstating Ohio’s exemption for precious-metal and investment coins and bullion, respectively.

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New Concerned Collectors Coalition to Replace Consumer Patron Membership

join nowThe National Coin & Bullion Association 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 digital newsletter, Member News. A member of the Concerned Collectors Coalition does not have membership voting rights.

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Tax Court Explicitly Bans Gold and Silver Coin Home Storage IRA Accounts

In a recent tax court case, Andrew McNulty et al. v. Commissioner of Internal Revenue, judge Robert Goeke ruled that the physical storage of $411,000 in gold and silver American Eagle coins in a safe at home constituted “unfettered control” of the investment and would thus be considered a taxable payout from the IRA in the amount of $411,000.

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