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<p>[QUOTE=&quot;statequarterguy, post: 1658478, member: 21782&quot;]I agree with most of what you said, except:</p><p>1. FMV has nothing to do with the basis of the quarter rolls.&nbsp; His basis is his cost.</p><p>2. Last I checked, coins are taxed at the lower of your marginal rate or 28%, so no advantage to calling them a hobby.&nbsp; If it&#039;s a hobby losses cannot be taken, if it&#039;s an investment, capital losses can be taken.</p><p>3. If you receive the profits from coin sales, you cannot do a like kind exchange (LKE).&nbsp; To do an LKE you&#039;d have to actually trade the coins or have an intermediary receive the profits and exchange them for you within a limited time.[/QUOTE]</p><p><br /></p>

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