Moreover, there are legal implications too. The IRS requires records that support the purchase and sale information for each of your coins for tax purposes. When you or your heirs go to sell a coin, if the original purchase price or value is not recorded, then the IRS will assume that any amount over face value is profit and liable to be taxed. It is appropriate to record any coin received as a gift at the current market value for tax purposes. Although this article is not intended to be a source of tax advice, these guidelines will provide you and your heirs the information they will need regarding your coin collection in the future.
There are many different ways to catalog your coin collection. Some people choose to record their coin collection transactions on 3x5 cards stored in a cigar box. Others use sophisticated computer software that interfaces with coin collecting databases for valuation purposes. There is no single best way to catalog your collection. You should select whatever method provides you with the information you need and one that you are comfortable using. Listed below are some of the more common methodologies that people use to catalog their coin collections.
A simple spiral or three-ring notebook can do the job very effectively for a small coin collection. There's a problem loading this menu right now. Learn more about Amazon Prime. Get free delivery with Amazon Prime. Back to top. Get to Know Us. Amazon Payment Products. English Choose a language for shopping. Amazon Music Stream millions of songs. Amazon Advertising Find, attract, and engage customers. In my opinion, Any coin of real personal value or of high neumismatic value should be put in a weather tight holder.
I'd feel sick if my d proof Morgan got handled improperly by someone. Haleiwa , Oct 26, Like others have said the binding material and pages have deteriorated. Show Ignored Content. Draft saved Draft deleted. Share This Page Tweet. Labels Air-Tite Holders 3 Books 1 coin album 17 Coin Collecting 19 coin collection 17 coin collections 17 coin folders 17 coin holders 17 coin storage 17 coin supplies 17 dansco coin 17 Dansco Coin Albums 3 How-To 1 state quarter map Lenertz of Coin Supply Express.
Permission is granted to publish or display any of this text with following conditions: 1 each article segment must be published in its entirety and its content, including links and references, may not be edited or altered without specific permission from the author; 2 credit must be attributed to John A. Lenertz and Coin Supply Express on each page in which any part of the article is displayed.Oct 26, · Provided to YouTube by The Orchard Enterprises Anikana-o · Afro Band Afromania ℗ DV More Released on: Auto-generated by poetiafintakinrods.soikmarvictivabcogebbaresagalvie.cog: Coins.