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<p>[QUOTE="medoraman, post: 1640950, member: 26302"]Sales tax law does not accept purchasing a commodity as converting money. They also have provisions of collectible coins, meaning any coins you pay more than face value is not money but a collectible. </p><p><br /></p><p>Of course, some states make exceptions for coins, bullion, etc. Every state is different in that regard, but all from a baseline tax collectible coins and bullion, then has to pass a law to exempt them if they wish to exempt them. </p><p><br /></p><p>This is why going to the bank to buy a $50 bag of cents is never taxable, but buying a bag of wheat cents for $200 is taxable. The first example IS you changing currency to coinage, since its at face value. Make sense?[/QUOTE]</p><p><br /></p>
[QUOTE="medoraman, post: 1640950, member: 26302"]Sales tax law does not accept purchasing a commodity as converting money. They also have provisions of collectible coins, meaning any coins you pay more than face value is not money but a collectible. Of course, some states make exceptions for coins, bullion, etc. Every state is different in that regard, but all from a baseline tax collectible coins and bullion, then has to pass a law to exempt them if they wish to exempt them. This is why going to the bank to buy a $50 bag of cents is never taxable, but buying a bag of wheat cents for $200 is taxable. The first example IS you changing currency to coinage, since its at face value. Make sense?[/QUOTE]
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