Home U.S. Coin Forum

Sydney Martin Sale Newp

messydeskmessydesk Posts: 19,600 ✭✭✭✭✭

Picked this up at the recent SB sale of Hibernia coinage. Got surprised with an additional 10% vig for the State of Illinois, since, apparently these aren't tax exempt due to being privately struck (although arguably issued by the Crown since they were made under a royal patent). Anyway, it looks far nicer than the SB or TV images. Anyone else pick up stuff from his recent sales?

Comments

  • goldengolden Posts: 8,962 ✭✭✭✭✭

    Nice coin.

  • U1chicagoU1chicago Posts: 5,497 ✭✭✭✭✭

    Nice addition!

    I also had the 10.25% sales tax applied back in 2020 when buying a token from Stacks. That’s when I learned that anything that isn’t considered a coin or bullion (token, medal) gets taxed.

  • messydeskmessydesk Posts: 19,600 ✭✭✭✭✭

    @U1chicago said:
    Nice addition!

    Thanks!

    I also had the 10.25% sales tax applied back in 2020 when buying a token from Stacks. That’s when I learned that anything that isn’t considered a coin or bullion (token, medal) gets taxed.

    There's a big gray area in what can be considered a coin. The Illinois statute refers to "coinage issued" by a government, whereas Stack's interprets that as coinage struck by a government. These were struck under George I's authorization to be used as coinage in Ireland (not so much the Rosa Americana pieces). Would Fugio cents be taxed as privately struck under a government contract? How about modern stuff from the Pobjoy mint that was contracted to strike coinage for assorted countries without their own minting capabilities? Dunno, but l should probably get clarification somehow so that I can know when I'm going to owe a 10+% vig to the bad guys.

  • U1chicagoU1chicago Posts: 5,497 ✭✭✭✭✭

    @messydesk said:

    @U1chicago said:
    Nice addition!

    Thanks!

    I also had the 10.25% sales tax applied back in 2020 when buying a token from Stacks. That’s when I learned that anything that isn’t considered a coin or bullion (token, medal) gets taxed.

    There's a big gray area in what can be considered a coin. The Illinois statute refers to "coinage issued" by a government, whereas Stack's interprets that as coinage struck by a government. These were struck under George I's authorization to be used as coinage in Ireland (not so much the Rosa Americana pieces). Would Fugio cents be taxed as privately struck under a government contract? How about modern stuff from the Pobjoy mint that was contracted to strike coinage for assorted countries without their own minting capabilities? Dunno, but l should probably get clarification somehow so that I can know when I'm going to owe a 10+% vig to the bad guys.

    I think they might be hedging towards taxing more rather than not taxing enough (same as eBay did initially and still does in certain cases to this day). I did win a Libertas Medal at one point along with some US coins and that surprisingly was not taxed (maybe because it was a US coins auction and they forgot to apply the tax).

  • RobertScotLoverRobertScotLover Posts: 515 ✭✭✭✭

    Nice looking almost ancient

  • OAKSTAROAKSTAR Posts: 5,469 ✭✭✭✭✭

    👍 👍

    Disclaimer: I'm not a dealer, trader, grader, investor or professional numismatist. I'm just a hobbyist. (To protect me but mostly you! 🤣 )

  • johnny9434johnny9434 Posts: 27,321 ✭✭✭✭✭

    Way cool, I like 👍

  • pruebaspruebas Posts: 4,278 ✭✭✭✭✭

    I found PCGS graded many of his coins rather “exuberantly,” so I didn’t buy much.

    I picked up this one earlier this year. Fully intact bronzing, though slightly stained.

Leave a Comment

BoldItalicStrikethroughOrdered listUnordered list
Emoji
Image
Align leftAlign centerAlign rightToggle HTML viewToggle full pageToggle lights
Drop image/file