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<p>[QUOTE=&quot;hontonai, post: 597368, member: 4703&quot;]Wrong!</p><p><br /></p><p>In some states numismatic material is subject to sales tax, in others it isn&#039;t, and in still others it depends on the dollar amount of the sale.</p><p><br /></p><p>Income tax, however, is assessed by the feds and some states on ALL monetary gains.&nbsp; As someone already pointed out it may be ordinary business income, or a capital gain, depending on whether or not you are in the business.</p><p><br /></p><p>Once you cross the $600 threshold for total reportable income in a single year, it all has to be reported to Uncle Sam.&nbsp; That threshold may vary in states (and cities) which collect income taxes.[/QUOTE]</p><p><br /></p>

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