On Effects of the Impending 1099 Law
Dick Johnson writes:
I predict: Because of the impending tax on gold coin purchases, buyers will try to beat the deadline by buying heavily at ANA Boston convention this August.
Dick included a link to this article about the con dealer lobby's response to the new tax regulations.
Section 9006 of the Patient Protection and Affordable Care Act will amend the Internal Revenue Code to expand the scope of Form 1099. Currently, 1099 forms are used to track and report the miscellaneous income associated with services rendered by independent contractors or self-employed individuals
Starting Jan. 1, 2012, Form 1099s will become a means of reporting to the Internal Revenue Service the purchases of all goods and services by small businesses and self-employed people that exceed $600 during a calendar year. Precious metals such as coins and bullion fall into this category and coin dealers have been among those most rankled by the change.
To read the complete article, see:
Gold Coin Sellers Angered by New Tax Law
Finding Homes for Auction Catalogs
Bob Knepper writes:
Many months ago I asked, and you posted, my question of what to do with several hundred European auction catalogs from about 1980 to 2000. I didn't receive any answers and I just got confirmation of my suspicion. I asked George Kolbe and he confirmed that despite their quality and cost to the issuer they aren't worth the cost of inventorying, packaging, and shipping them to him. A few years ago I checked at local coin clubs and they are not interested in non-USA material. I may cut some pictures from some of the catalogs but I'm running out of space so they will be trashed.
Carlson Chambliss Found
Some queries take a while to be answered, but good things come to those who wait. In June 2002 Gar Travis wrote:
"Does anyone know how to contact Carlson R. Chambliss? I understand he has produced a poster of Military Payment Certificates. I am mounting an exhibit on July 1st in the Harriotte B. Smith Library on board Marine Corps Base Camp LeJeune and heard from currency dealer Daryl C. Spekbring of Virginia Beach, Virginia that such a poster exists. I would like to obtain one to use to accompany the exhibit either from Chambliss or another available source.
Now Garth writes:
This has to be one of the longest times between inquiries and replies...eight years!
Carlson R. Chambliss writes:
In checking over references to me on the Internet I noticed that you wanted to contact me about the MPC replica notes that I made a few years ago.
I still have plenty of them both as cut singles and in sheets. There are a total of 107 different notes in the full set from Series 461 (first used in 1946)
to Series 701 (the last unissued set intended for Vietnam).
There are three different sheets - fractionals, middle size notes (i. e., $1 and small-size $5 notes), and the large-size notes. They are very large in size - 28 x 40 inches. This is because the plates were extremely expensive, and I had to keep the number of plates to a minimum.
My postal address is P. O. Box 804, Kutztown, PA 19530 and my telephone number is 1-610-683-6572. My email address is email@example.com (Note one "s" only.)
Wild Ideas About Coin Values
Regarding the Trinidad man's "rare" coin, Dick Doty of the National Numismatic Collection at the Smithsonian writes:
About thirty years ago, when I was still at the American Numismatic Society, I got a letter from someone in port of Spain calling himself the Kane Detection Agency. Seems he had a 1923 silver dollar that had belonged to President Harding and was actually on his person when he died. Kane said he’d already been offered a million and a half for it, and would we offer more for it? I wrote back, told him that if someone offered me a million and a half for a coin worth seven dollars of so, I, personally, would go for it.
He must’ve taken the offer, because I never heard from him again.
To read the earlier E-Sylum article, see:
ARTICLE: TRINIDAD MAN READY TO PART WITH HIS "RARE" COIN
Protecting and Restoring Leather Bindings
Steve Frank writes:
Many thanks to Michael Sullivan and Kim Ghobrial for the wonderful suggestions, and to Wayne Homren for posting the original question to the group. I've shared these responses with others in my colonial coins groups and believe the answers given will make those who do have leather bound books take notice and act appropriately.
Although I assumed the majority of those who have rare or expensive leather bound editions would know this, I found that some had never given it a thought until now! Thank you once again for helping to save some beautiful numismatic books to be enjoyed by future generations of coin collectors!
To read the earlier E-Sylum article, see:
ON RESTORING LEATHER BOOK COVERS
Wayne Homren, Editor
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