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<p>[QUOTE=&quot;calcol, post: 25317773, member: 77639&quot;]Historical prices … Red Book, old catalogs, online sources, back issues of Coin World, etc.&nbsp; …&nbsp; are useful for establishing value on a particular date.&nbsp; But none of that proves when you acquired coins.&nbsp; A coin or set may have gone down in value 80% in the years since it was issued.&nbsp; But if you bought it yesterday and sold it today, your capital loss would be zip.</p><p><br /></p><p>If you don’t have purchase invoices, try to find other records that are reasonable evidence that you owned the coins on past dates.&nbsp; Then if an auditor questions you about basis, hope that they are reasonable too.&nbsp; If you get audited on a specific issue other than coins (has happened to me twice): 1. be very polite, 2.&nbsp; unless it’s small, do not agree to anything during first contact; just gather information, 3. do not mention other items, like coin sales, that were on your return.</p><p><br /></p><p>Consulting a tax accountant is a good idea.&nbsp; There are things that can change your coins’ basis.&nbsp; For example, if the coin collection is community property and your spouse dies, the basis switches from purchase price to the value on the day of the spouse’s death.</p><p><br /></p><p>Cal[/QUOTE]</p><p><br /></p>

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