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Message:: [QUOTE="Owle, post: 758774, member: 22004"]CPA's Thanks for the feedback. There are probably different categories, short- term capital gains, long-term, whether you're doing it as a business, as a collector. If I as a collector, were to say, crack a coin out of an old holder, score a "home-run", then quickly sell the tangible at a substantial profit, clearly this would be a short-term capital gain, taxed at the max..  Most people just say for you to rely on the judgment of your CPA. But if the CPA plays fast and loose with the numbers, because generally the government doesn't know "basis" on the coins, what you paid, it is highly unlikely you will be called on the carpet for understating your transactions. Like I said, I want to be 100% honest for conscience sake, not because I expect to be audited. I spoke with JJ Van Grover on this issue, and he said the city auditors had meticulously gone over his books a number of times. He passed with flying colors. He son worked with the IRS criminal division. He had quite a few stories to tell. God rest his soul.[/QUOTE]