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COINageCOINage

COINage April 2019

COINage has been a leading name in numismatic publications. We offer a fresh perspective of numismatics for the experienced coin collector and an introduction to key concepts for the novice.

Pays:
United States
Langue:
English
Éditeur:
Beckett Collectibles Inc.
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JE M'ABONNE
16.82 CHF
12 Numéros

DANS CE NUMÉRO

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buying coins can be taxing

Purchasing coins became a heck of lot more complicated for many dealers and auction houses, and potentially more expensive for collectors, because of a U.S. Supreme Court case last year known as South Dakota vs. Wayfair. As the Industry Council for Tangible Assets (ICTA) points out, the court’s decision has allowed states to collect sales taxes from out-of-state merchants who sell products – such as rare coins and bank notes – to buyers in their states. More than two dozen states already are enforcing remote sales tax collection, and the worrisome issue is of crucial importance to the hobby. It could get even worse. Some states have been working together to urge Congress to create federal legislation for a sales tax law that would grant states the power to force out-of-state merchants…

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coinage

EDITORIAL MAGGIE JUDKINS Editorial Director SCOTT A. TRAVERS Executive Editor ANTOINETTE RAHN Editor Editorial Correspondence: MAGGIE JUDKINS (218) 390-6841 editor@coinagemag.com CONTRIBUTING WRITERS DONN PEARLMAN MIKE FULJENZ DAVID L. GANZ R.W. JULIAN JOSHUA MCMORROW-HERNANDEZ TOM DELOREY CRYPTOCURRENCY EDITOR JAMES PASSIN DESIGN SHAWN STIGSELL PRICE ANALYST SAM ZIMMER ADVERTISING KACY BJORNSON Advertising Sales Executive (320) 260-4756 kbjornson@beckett.com PRESIDENT SANDEEP DUA FOUNDER JAMES L. MILLER…

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investment giant forecasts $1,425 gold by year’s end

On Thursday, January 10, 2019, the U.S. investment bank Goldman Sachs raised its gold forecasts to $1,425 over the next 12 months. It sees $1,325 within three months, $1,375 within six months, and $1,425 within 12 months. Those forecasts are up $75 per ounce from its previous forecasts of $1,250, $1,300, and $1,350 per troy ounce for the same time spans, respectively. Based on a beginning price of $1,279 in 2019, an increase to $1,425 represents an increase of more than 11% for the coming year. In explaining its move, Goldman analyst Jeffrey Currie said, “Going forward, gold will be supported primarily by growing demand for defensive assets. The same is also true of central bank buying, with rising geopolitical tensions incentivizing more central banks to re-enter the gold market.” It also…

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can you retire on your coins?

It sounds like such a simple and fun concept: Buy some American Eagle gold and silver bullion coins, and place them in your IRA (Individual Retirement Arrangement). The advertisements urging you to do this are enticing. But despite the flashy ads and the shine of the metals themselves, the legal requirements and accounting rules are complicated. Please seek the professional advice of a lawyer and accountant before attempting to include coins in an IRA. As I am not a lawyer or accountant, and while the information and advice in this article neither constitutes nor substitutes legal or accounting advice, it is nevertheless an educational primer into the complex world of precious metals and IRAs. Plus, it’s a world no less confusing now than it has been over the past several decades,…

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funding your numismatic retirement

◼ Open and fund – through new contributions or a rollover – a self-directed IRA at an approved custodian. Most account documents can be completed online. ◼ Customer directs the custodian, or can directly order IRS-approved precious metals, from a supplier of his or her choice in the name of the IRA. ◼ Customer provides the invoice and advises the custodian to pay the precious metals supplier. ◼ Precious metals supplier delivers the product directly to the agreed-upon depository for the account of the custodian and further credit to the customer. ◼ Depository confirms deposit to custodian. ◼ Custodian advises customer of metals deposit and payment. ◼ Custodian provides account updates periodically to the customer.…

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a new tax on your retirement coins

Prior to the Supreme Court decision in South Dakota v. Wayfair, no thought was given about sales taxes imposed upon any of the investments allowed to be placed into an IRA. The Wayfair Court ruled in a five to four decision that “physical presence was not necessary” in order to expose out of state, remote sellers to state laws requiring them to collect and remit sales taxes to the buyer’s state. Unfortunately, states interpreted the Court’s ruling to mean “you can tax anyone anywhere who sells anything.” Consequently, a flood of state sales tax laws has begun in an effort to reach every conceivable transaction without regard to unintended consequences of which there are endless examples. One of the unintended consequences is the uncertainty placed upon those who purchase coins or bullion for inclusion…

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