PCGS Specials

HomeBullion & Precious MetalsTax Bill to Change Coin Taxes of “Like-Kind” Exchanges

Tax Bill to Change Coin Taxes of “Like-Kind” Exchanges

Coin Taxes – Congress is preparing to make changes to the taxation of “like-kind” exchanges that may effect you and your clients coin collections and the buying and selling coin and bullion products.

By Industry Council for Tangible Assets (ICTA) ……
coin taxesThe US House and Senate have included in their tax bills revisions to the treatment of like-kind exchanges that will affect coin taxes and some coin and currency dealers and their clients. Dealers and clients who engage in such exchanges will face significant coin taxes consequences if Congress adopts these revisions to Section 1031 of the US tax code. The Industry Council for Tangible Assets recommends you assess the effects of these revisions if you engage in like-kind exchanges.

The consequences of the proposed changes in Sec. 1031 are complex and ICTA is not qualified to provide tax advice. But we urge you to determine the effects of the House and Senate tax bills. If your interests are affected, call your Representative and Senators as soon as possible, as congressional leaders are moving these bills at unprecedented speed. Reference Subtitle D, Sec. 3303 of the House tax bill. This section replaces the word “property” in current law with “real property,” the effect of which is to allow only real estate in like-kind exchanges in Sec. 1031 of IRS regulations.

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.

Related Articles


Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Park Avenue Numismatics Gold and Silver Bullion

AU Capital Management US gold Coins

Blanchard and Company Gold and Precious Metals