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<p>[QUOTE=&quot;ldhair, post: 1331805, member: 11540&quot;]The IRS will want to see the invoice. Without it, your cost basis is the face value of the coin. One could probably argue that the bullion value should be used as the basis. </p><p><br /></p><p>I have had two CPA,s and a lawyer tell me the following. The IRS will work with folks on small amounts of money. If you have most of the invoices but only records on a few items, they will probably allow your figures. If you have no invoices or you tick off the guy from the IRS, you have a problem. They really get picky on larger value items and deals.</p><p><br /></p><p>Many collectors don&#039;t worry much with having invoices and good records till the day comes to sell off a large amount.</p><p>I&#039;ll guess most of us here fall under the Hobby tax rates. That&#039;s like 30% plus whatever your state may get.[/QUOTE]</p><p><br /></p>

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