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<p>[QUOTE=&quot;Publius2, post: 5042029, member: 105571&quot;]Profits on numismatic and precious metals bullion is taxed at the federal level as capital gains at 28%.&nbsp; At the state level, many states apply sales tax on numismatic and PM purchases.&nbsp; Some, like Florida, don&#039;t apply sales tax on numismatic purchases (don&#039;t know about PM).&nbsp; Now, if you buy many other commodities like stocks, bonds, houses, etc. that are subject to capital gains tax, you also do not pay sales tax (even though some states have an incredibly stupid thing called an &quot;intangibles tax&quot; on investment vehicles).&nbsp; Conversely, if you buy a car, you pay sales tax but not capital gains.&nbsp; It always seemed like unfair tax design and logically inconsistent to give numismatic purchases the worst of both worlds where you have to pay sales tax on the front end and capital gains (adding insult to injury - at the short-term rate) on the back end. </p><p>If numismatic items are investments, then they should not be assessed sales tax.&nbsp; If they are commercial sales items, then they should not be assessed capital gains. IMHO.</p><p><br /></p><p>But since we are unlikely to change any state&#039;s or the fed&#039;s policy in their arrogance and zeal to confiscate our wealth, then I have a suggestion:&nbsp; If a coin has a PM or monetary value (if still legal tender), then the sales tax should be based upon the difference between the PM or the monetary value (whichever is greater) and the sales price.[/QUOTE]</p><p><br /></p>

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