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<p>[QUOTE=&quot;Publius2, post: 26670224, member: 105571&quot;]The simple answer is &quot;because the government has determined that collectible items with value (art, books, coins, cars, etc.) are items that are subject to capital gains and thus subject to capital gains tax&quot;.</p><p><br /></p><p>If you are just expressing a general opposition to the moral or ethical basis for any tax, then I don&#039;t have an answer.</p><p><br /></p><p>And also, the government doesn&#039;t care what coins lie in your safe.&nbsp; They only care about whether or not you have made a taxable capital gains from the sale of those coins.</p><p><br /></p><p>If there was an active, profitable and sufficiently large market in the collecting and sale of fishing lures, we might well see Congress passing legislation to tax those assets as well under the general government policy that no activity should go untaxed.&nbsp; The fact you keep your fishing lures in a tackle box but your coins in a safe tells us about all we need to know about the relative value of those items.</p><p><br /></p><p>A more relevant beef about the capital gains tax on coins is that the rate is 28% regardless of how long you own them.&nbsp; Whereas if you hold stocks for more than a certain period of time, you pay a long-term rate of 20% versus the short term rate of 28%.&nbsp; The reason is that the IRS has determined in their wisdom that coin collecting does not &quot;contribute&quot; to the economic growth and well-being of the economy and the Republic unlike houses, stocks, bonds, industrial machinery, &amp; etc.[/QUOTE]</p><p><br /></p>

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