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<p>[QUOTE=&quot;1865King, post: 7483023, member: 103207&quot;]Without going on about taxes when selling coins.&nbsp; I feel receipts are important when dealing with higher value coins.&nbsp; If you pay by credit card you should get a receipt.&nbsp; However, if your buying cheaper coins with cash it depends on the situation.&nbsp; Most dealers would prefer not to bother with receipts on coins sold for under $100.00.&nbsp; It adds to cost and time plus bookkeeping.&nbsp; In general your local dealer has to keep track of sales.&nbsp; He also has to keep track of inventory.&nbsp; There are a number of ways they can do it.&nbsp; Realistically, coins worth less than $100.00 may be clumped into a general description such as junk silver.&nbsp; He could record that he sold 5 Morgan dollars for X amount.&nbsp; I know a lot of dealers that will make notations as to what they sold.&nbsp; Now if he sold a 1889 CC dollar in Fine he would make that entry.&nbsp; I also know that in some states if a dealer buys a group of coins or a collection they have to hold those coins for a month before selling them.&nbsp; They also have to record who they got them from.&nbsp; I&#039;ve seen dealers ask for an ID when buying coins.&nbsp; It helps protect them from being accused of buying stolen coins.&nbsp; No ID&nbsp; means no sale.[/QUOTE]</p><p><br /></p>

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