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<p>[QUOTE=&quot;GDJMSP, post: 7480784, member: 112&quot;]No matter how you acquire a coin, you should always, always, always ask for and get a receipt ! Why ? The tax man is why !</p><p><br /></p><p>At some point you are either going to sell the coin, or pass it on to heirs. And when you do that receipt is the only proof you have of what you paid for it. And it&#039;s necessary to be able to prove what you paid for it because tax of one kind or another is due.</p><p><br /></p><p>Without a receipt, the govt will flat out deny what you claim you paid and you will have to pay tax on the total value of the coin.</p><p><br /></p><p>With a receipt you will only tax on any profit resulting from the sale or passing on to heirs. And, if a loss is incurred because you paid more for the coin than you sold it for, or it is worth at the time of passing it on - you get to use that loss to offset any profits on other coins.</p><p><br /></p><p>That&#039;s what you always need a receipt ![/QUOTE]</p><p><br /></p>

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