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<p>[QUOTE=&quot;Troodon, post: 337210, member: 4626&quot;]Well if you receive say, a quarter, in change, you essentially paid $0.25 for it.&nbsp; If you sell it for $100, you made a profit of $99.75.&nbsp; Proceeds - basis = profit.</p><p><br /></p><p>I don&#039;t believe you can use the &quot;like kind exchange&quot; argument on collectibles that you&#039;re only buying and selling as a hobby, not generally anyway.&nbsp; There may be exceptions, but special rules apply.&nbsp; Consult a certified tax accountant if you have questions about such things.&nbsp; Will give you some legal advice: note reporting income that is legitimately taxable is a crime, whether you get caught or not (just as it&#039;s illegal to run a red light, even if a cop didn&#039;t see you do it.)&nbsp; If we&#039;re talking about tiny amounts, administrative convenience comes into play, the IRS won&#039;t particularly care that you sold a coin for $2 that you bought for $1.&nbsp; But if you&#039;re making significant profits on the sale of coins, you best figure out what the legal requirements are.[/QUOTE]</p><p><br /></p>

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