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Why $2,000 minimum BUY threshold by dealers at LB Show?

1st_Place1st_Place Posts: 24 ✭✭✭
in Expos General Information and Discussion

Why $2,000 minimum BUY threshold by dealers at LB Show? The dealer advertising that he buys at the coin show, says (because of tax laws) that he isn't allowed to purchase coins valued under $2,000. I assume that's in total, if more than one coin. I've never heard of this rule. Is this an actual tax related law?

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  • BillJonesBillJones Posts: 35,093 ✭✭✭✭✭

    I have dealers limited to buying coins only at a show after the sales tax people came into the show and clamped down on those dealers who didn’t have a resale number. Maybe this is to prevent dealer to dealer transactions below $2,000.

    I take “LB” means Long Beach. It’s not good to use acronyms when others don’t know them. If so, this does not bode well for the future of the show.

    Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
  • MrEurekaMrEureka Posts: 24,518 ✭✭✭✭✭
    edited November 25, 2025 2:58AM

    If someone buys less than $2000 worth of coins in CA, sales tax is due. If the sales tax is due but not actually collected, is the buyer on the hook for CA use tax?

    Andy Lustig

    Doggedly collecting coins of the Central American Republic.

    Visit the Society of US Pattern Collectors at USPatterns.com.
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