Archive – Legal regulations

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Which Italian coins will the MOU between the US and Italy affect?

The US and Italy have reached an agreement on a more intense control concerning the import of Italian coins into the United States. Wayne Sayles gives a short summary, which coins are concerned... more ]

European Commission calls on Germany to change its rules on VAT concerning art objects (among them coins)

The European Commission has officially asked Germany to change its VAT rules as regards the application of a reduced VAT rate to the supply of works of art and collectors’ items. Germany’s current rules are incompatible with EU law.
German Dealers’ Associations are protesting in strongest terms against this change. more ]

Verdict in 1933 Double Eagle Trial Upheld

A federal judge confirmed a 2011 verdict regarding ten 1933 Double Eagle gold coins. Founders handed them over to the Philadelphia Mint for authentication. But then the United States had claimed their right on these coins which by a jury a now again has been recognised. more ]

Germany keeps reduced VAT rate of 7 percent on coins and other objects of art in 2013

After long debates only one thing is certain: Germany is going to keep its reduced VAT rate of 7 percent on coins and other works of art for the next year. However, the reduced VAT rate will be abolished from January 1, 2014. more ]

From small acorns … Ancient Coin Collectors on the steps of the Supreme Court

In 2007 Washington imposed draconian import restrictions on ordinary coins creating thus massive problems for coin collectors. The Ancient Coin Collectors Guild has filed a ‘test case’ and applied to the United States Supreme Court. more ]

Fake slabs to become illegal in the U.S.

US House of Representatives has passed a bill applying modifications to the ‘Hobby Protection Act.’ Not only producing imitations and selling them is punishable by law but also faking slabs. more ]

USA releases new import restrictions on coins from Bulgaria

On January 16, 2014, U.S. Customs and Border Protection announced new import restrictions on coins from Bulgaria. This is another major expansion of import restrictions, and one that for the first time reaches coins made as recently as the 18th century. more ]

Reversal of the Burden of Proof

The European Parliament has approved a new directive concerning the return of national treasures. The directive puts private collectors at an unprecedented disadvantage. For the first time the burden of proof with regard to the “due care and attention” regulation will officially be placed on the possessor – apparently even for “archaeological” coins with the nominal value “0”! more ]

Special Regulations for coin dealing with Minnesota

Do you have any clients in Minnesota? If so, delete them from your address list. The particular regulations for dealers of coins containing gold or silver introduced by the state of Minnesota render all business relationship impossible. more ]

The American Anti-Fraud Law

The protection of collectors is at the heart of the new US-American law entitled “Collectible Coin Protection Act” which makes the production and the distribution of counterfeit coins illegal. more ]

Nearly $1.9 Million For Coin Fraud Victim’s Estate

A Federal Court Judge in Texas (USA) has issued her final ruling that a coin fraud victim’s estate should receive nearly $1.9 million from a Long Island coin dealer and his grading company under the Racketeer Influenced and Corrupt Organization Act (RICO). more ]

Numismatic Businesses Defeat Attempted Repeal of Hobby’s Tax Exemption in Maryland

For the third time, the Maryland General Assembly rejected legislation that would have repealed the Maryland tax exemption for coins and bullion. more ]

U.S. Embargoes Egyptian Coins among other artifacts

The US Government has published an extensive list of artifacts subject to import restrictions. Peter Tompa summarizes the coins which are concerned. more ]

North Carolina Joins 35 Other States with a Sales-Tax Exemption

On the initiative of a local coin dealer, several Representatives, and the Industry Council for Tangible Assets, North Carolina has been given a new bill on numismatics. Effective July 2017, it is a complete sales-and-use tax exemption on coins, currency, and precious-metals bullion sales. more ]

Alabama Becomes 37th US State with a Sales-Tax Exemption

Alabama exempts the gross proceeds from the sales of gold, silver, platinum, and palladium bullion, and money from sales and use tax for five years. The law is a sales-and-use tax exemption on U.S.A. coins and currency and precious-metals bullion sales. more ]

A Warning About New U.S. Interstate Sales Tax Ruling

In a decision regarding interstate purchases, the U.S. Supreme Court has now ruled that states can require retailers beyond their borders to collect sales-tax revenue from consumers. This is especially significant for online purchases, but all sales across state lines could now be taxed. more ]

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