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<p>[QUOTE=&quot;Owle, post: 758632, member: 22004&quot;]I have been doing collecting and coin dealing for about ten years. I saw hard assets and certified coins as a refuge from the world of stocks and bonds, which I saw as an area where only the hedge funds and insiders gleaned profits.&nbsp; My bet has turned out well as hard assets, at least, have netted substantial gains.</p><p>&nbsp;</p><p>My concerns, however, is the lack of accountability in certain sectors of the coin and hard asset industry as we see many of our fellow Americans suffering through an economic crisis. </p><p>&nbsp;</p><p>I have had three CPA&#039;s tell me I didn&#039;t need to pay taxes on hard assets or certified coins. As a former Boy Scout, I didn&#039;t listen to them and provided all of my transaction records to the CPA&#039;s so they could present honest returns to the IRS. Many leaders in this industry have warned that government regulations were inevitable as state and federal governments struggle to close budget gaps.</p><p>&nbsp;</p><p>Here in Connecticut there are pawn shops, jewelry buyers, and even bullion dealers who offer 10-20% and even more behind the current spot price for the most easily quantified asset in the world.&nbsp; It is an outrage. Katie Couric had her morning TV program send a US Eagle into &quot;Cash for Gold&quot;, and I think they offered her $300 or $400 for it.&nbsp; Eventually the complaints reach a critical mass, and a DA or US attorney does an investigation in cases of fraud.&nbsp; I&#039;m sure that day is coming for the fly by night outfits, etc..</p><p>&nbsp;</p><p>File this issue under &quot;ethics in numismatics&quot;.&nbsp; I practice a strict ethical code in my life. My word is my bond or guarantee.&nbsp; I am very reluctant to report issues to the government because they are usually not very effective. I would appreciate feedback for other coin dealers and collectors to share their experience as they try to do the right thing and whether government has been helpful or a hindrance to the industry and the hobby.[/QUOTE]</p><p><br /></p>

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