Best Of

No surprise, Andy always has great Lincolns!

I would not wear down a classic gold coin even to attain a F2 or P1 grade, just me, to each their own.

@JimTyler said:

@jakeblue said:

@jmlanzaf said:

@jakeblue said:
Oh BS. Profits are in the construct of IRS considered business. Profits should not be considered for any item sold on eBay unless through an IRS considered business. Ex: You sell a used motorcycle on eBay for 10k. You do not have an eBay or any other considered business. Now you receive an 1099 and potentially owe a profits tax on an item simply because of price and venue. I suppose classified paper ads, Craigslist, garage sales, etc. are next. BS.

Taxation already applies to the profits (business) or capital gains (individual) for items sold through ANY venue.

I am not a tax attorney, nor do I play one on TV. To better explain my example, the Bike new was 20K, sold for 10K, capitol loss, not a gain. Should I try to claim it? That is where the attorney comes in. Does eBay know when I sold the bike if it was at a loss or a gain? No, they still will send the 1099 because the Feds keep moving the goalposts and eBay is aggressive on this issue. eBay will send a copy of the 1099 to the Feds. What happens if the 1099 is NOT filed with taxes? You know the answer. Moreover, you sell the bike at a differing venue garage sale, estate sale, local auction etc., who wants the extra burden of deciding/declaring personal vs. investment sales. So yes, it is BS.

Don’t count on it. I expect you would get a 1099k for the 10k you sold the bike for. I sold $5k of basement crap a few years ago for the kind of loss you would expect. I got a 1099K. Who keeps receipts on basement crap. Hire a lawyer and accountant? I felt easiest way to pay the damn tax, about $1000 and never get myself in that mess again.

You wouldn't need receipts unless audited. For used items, I guarantee the IRS is not going to make a fuss about missing receipts.

Should ebay have any thoughts toward buyer safety, it might offer more ways of limiting unwanted views suchas, items made or shipped from unregulated countries rather than individual blocked accounts. JMO
Jim

@Boosibri said:
I have had luck in using AI to find examples in building census (the 1794 West Indies 3 Gulden) and our past project on the 1777 Greenland Dollar.

The key is in asking specific questions...

That is called "prompting". Knowing how to prompt a GenAI tool determines how successful your prompt will be. "RICE" is a good structure to use.

R- Role - explain the role you want the AI to embody.
I- Instruction - Provide detailed instructions/guidelines for the AI to follow.
C- Context - Give the tool relevant context and background info to generate a response.
E- Example- include examples/instances so the tool can use it as a reference to create a similar output.

Please accept my condolences upon your family's losses.

I remember you, your posts and the coins you wrote about. As time went by I assumed we would never read about what happened to the collection, so this is an interesting and welcomed update. If you have more images I am certain we would all love to see them. Welcome back.

What added value do you think First Week of Discovery brings?