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Gold & Silver PAC July 2017 e-Newsletter

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Gold & Silver American Eagle Coins

By Scott Barman for the Gold & Silver PAC …..

From the Political Coordinator

During a meeting of the Gold & Silver PAC at the National Money Show in March 2013, members were provided a chance to meet with Representative Steve Scalise (R-LA1), the Republican representative from New Orleans. Scalise came to demonstrate his support the PAC’s agenda and the Collectible Coin Protection Act. With Scalise a member of the Republican House Leadership, the Collectible Coin Protection Act was passed by unanimous consent in December 2014. It was later passed by the Senate and signed into law.

Scalise was one of five people injured when a gunman opened fire on a group of Republican lawmakers and their staff while practicing for the annual congressional baseball game. Scalise, now the House Majority Whip, was shot in the hip that caused damage to internal organs and extensive bleeding. As a member of the House leadership, Scalise is accompanied by members of the Capitol Police. They were able to return fire and shoot the gunman. Rank and file members are not provided police protection, leading to speculation as to what would have happened had Scalise not been at the practice.

Scalise is recovering at Medstar Washington Hospital Center and is listed in Fair condition. Capitol Police Officers Special Agent David Baile and Special Agent Crystal Griner were injured and were released from the George Washington University Medical Center.

Also injured was Rep. Roger Williams (R-TX25) who was able to return to the Capitol that afternoon; Zachary Barth, a Williams staff member; and Matt Mika, a former congressional staffer who now works as a lobbyist for Tyson Food in Washington.

The Congressional Charity Baseball Game has been an annual bi-partisan event since 1909. This year the game helped raise money to support the Washington Literacy Center, Boys and Girls Clubs of Greater Washington, and the Washington Nationals Dream Foundation among others. The game was held at Nationals Park as scheduled the day after the shooting. The first pitch was thrown out by Baile who dropped his crutches and walked to the pitcher’s mound to a standing ovation from those in attendance.

The game was dedicated to Scalise and the others who were injured. Rather than the trophy being awarded to the winning team, it was left in Scalise’s office for when he returns.

Special Agent Griner was honored a few days later when she threw out the ceremonial first pitch at a Washington Nationals game.

GoFundMe campaigns have been set up for Special Agent Griner and Matt Mika. If you would like to donate to help them recover you can visit their individual campaigns:

North Carolina General Assembly passes sales tax exemption

On June 27, 2017, the North Carolina Senate passed House Bill 434 that will add a sales tax exemption for purchases of rare coins, currency and precious metals. The bill was officially enrolled on June 28, 2017, before being sent to Governor Roy Cooper (D) for his signature. Gov. Cooper has 10 days to act on the legislation or it becomes law without his signature. There appears to be no indication that Cooper will veto this bill.

Louisiana Governor signs sales tax exemption

Louisiana Governor John Bel Edwards (D) signed legislation to exempt precious metal and certain coin purchases from state sales taxes.

HB 396, which passed the Louisiana legislature with overwhelming support, eliminates sales taxes on the purchases of platinum, gold, or silver bullion that is valued solely for its precious metal content whether coin or ingot. Numismatic collectibles with a value no more than $1,000 are also exempted from sales tax.

The sales tax exemption includes sales at coin shows held within the state.

This is the third time that Louisiana has passed this type of sales tax exemption. Two previous laws were repealed so that the state could use the funds to balance its budget. The law becomes effective on October 1, 2017.

Minnesota Passes sales tax exemption for bullion only

As part of an omnibus bill signed by Minnesota Governor Mark Dayton (D), sales of only .999 gold, silver, platinum, or palladium bars or rounds are exempt from state sales taxes. As written, the law requires that the item is marked with the weight, purity, and content to qualify for the exemption.

The law specifically states that it does not apply to the sales and purchases of jewelry, works of art, or scrap metal. Other numismatic-related collectibles are not included in the exemption since they do not meet the .999 purity requirement.

The exemption went into effect on July 1, 2017.

Man arrested for trying to sell Chinese counterfeit coins in WV

A Kentucky man was arrested in Williamson, WV for attempting to sell counterfeit coins to a pawn shop.

Mingo County Sherriff Department reported that Joey Jude, 39, from Warfield, Kentucky was charged with felony counterfeiting offenses trying to sell counterfeit United States and Canadian coins he bought from China for a reported $1.59 each. Jude allegedly visited other area businesses attempting to sell the coins for $10 to $15 each.

Jude is being charged by the State of West Virginia. Mingo County Attorney’s office was unaware if the U.S. Secret Service has been contacted with regard to this case. No comment was provided when the Secret Service Field Office in Charleston, WV was contacted.

New Treasurer but no Mint Director

Contention appears the order of the day within the Trump Administration as there are continuing arguments with the press and within the administration. Politico reports that Secretary of State Rex Tillerson has joined other Cabinet officials in denouncing the way the head of the presidential personnel office has been handling proposed nomination.

While other cabinet secretaries have expressed frustration with the process, Tillerson was the first whose actions were reported publicly. Sources say that most of the cabinet secretaries who were not previously government officials continue to try to have their recommendation for senior-level staff appointment rejected.

Although politics play a significant role in these appointments, it seems that anyone who has remotely demonstrated to be against the president in any form, including donating to opponents’ campaigns, are being rejected.

Sources report that Secretary of the Treasury Steven Mnuchin sent two potential nominations for Director of the U.S. Mint. One was rejected for being a registered Democrat and the other was a supporter of another candidate during the 2016 election. Treasury officials would not comment for the record but a senior department official said that finding a Director of the U.S. Mint is no longer a priority. They plan to let Jovita Carranza, who was sworn in as the 44th Treasurer on June 19, manage the bureau for now.

Summary of Numismatic-Related Legislation

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If you have any questions or comments, please feel free to contact me at [email protected]. “Letters to the Editor” are appreciated and may appear in a future newsletter.
Scott Barman, Political Coordinator for the Gold & Silver PAC
Barry Stuppler, Chairman Gold & Silver Political Action Committee

Coinweek is the top independent online media source for rare coin and currency news, with analysis and information contributed by leading experts across the numismatic spectrum.

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