Log in or Sign up
Coin Talk
Home
Forums
>
Coin Forums
>
World Coins
>
Some Dispassionate Advice Required - GB Coins
>
Reply to Thread
Message:
<p>[QUOTE="jgenn, post: 4535462, member: 78525"]When you feel that a coin no longer fits in your collection you have two choices, sell it now or sell it later. It's unlikely that you will change your mind about how it fits in your collection. Just be realistic on what you hope to recover from your original costs -- for many reasons you are not likely to break even.</p><p><br /></p><p>I chose to sell 20 certified world crowns through a major auction house last year. I did it that way to have a well documented record of my sales as well as to avoid any complications from eBay returns, etc. I actually sold one at a profit but the rest were at a loss, some quite considerable.</p><p><br /></p><p>Here in the USA our Internal Revenue Service considers coins as collectibles and so they fall into a category where your profits are taxed as capital gains up to 28%. For those of us that sell coins at a loss it means that our transactions can be used to offset gains on our "better" investments.[/QUOTE]</p><p><br /></p>
[QUOTE="jgenn, post: 4535462, member: 78525"]When you feel that a coin no longer fits in your collection you have two choices, sell it now or sell it later. It's unlikely that you will change your mind about how it fits in your collection. Just be realistic on what you hope to recover from your original costs -- for many reasons you are not likely to break even. I chose to sell 20 certified world crowns through a major auction house last year. I did it that way to have a well documented record of my sales as well as to avoid any complications from eBay returns, etc. I actually sold one at a profit but the rest were at a loss, some quite considerable. Here in the USA our Internal Revenue Service considers coins as collectibles and so they fall into a category where your profits are taxed as capital gains up to 28%. For those of us that sell coins at a loss it means that our transactions can be used to offset gains on our "better" investments.[/QUOTE]
Your name or email address:
Do you already have an account?
No, create an account now.
Yes, my password is:
Forgot your password?
Stay logged in
Coin Talk
Home
Forums
>
Coin Forums
>
World Coins
>
Some Dispassionate Advice Required - GB Coins
>
Home
Home
Quick Links
Search Forums
Recent Activity
Recent Posts
Forums
Forums
Quick Links
Search Forums
Recent Posts
Competitions
Competitions
Quick Links
Competition Index
Rules, Terms & Conditions
Gallery
Gallery
Quick Links
Search Media
New Media
Showcase
Showcase
Quick Links
Search Items
Most Active Members
New Items
Directory
Directory
Quick Links
Directory Home
New Listings
Members
Members
Quick Links
Notable Members
Current Visitors
Recent Activity
New Profile Posts
Sponsors
Menu
Search
Search titles only
Posted by Member:
Separate names with a comma.
Newer Than:
Search this thread only
Search this forum only
Display results as threads
Useful Searches
Recent Posts
More...