Collector Coins
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The Sale Of Your Collector Coins!
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Under current law - coins that are held for investment purposes - qualify for 1031 tax-deferral.
Very few people in the coin-collecting world know that you can conduct a 1031 exchange on coins...
While people have been widely conducting 1031 exchanges of real property, only a sophisticated few coin-collectors have learned how to compound and build their wealth through 1031 exchanges!
SPECIAL LIKE-KIND REQUIREMENTS FOR COIN-COLLECTIONS:
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Gold bullion is NOT like-kind to silver bullion, Rev. Rul. 82-166, 1982-2 C.B. 190
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Gold bullion coins are NOT like-kind to collectible (numismatic-type ) gold coins, Rev. Rul. 79-143, 1979-1 C.B. 264
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Gold bullion is like-kind to gold bullion coins. Rev. Rul. 82-96, 1982-1 C.B. 113.
45 Day Identification Requirement: Your replacement-coins must be unambiguously designated or identified by you no later than 45 days after the date of the transfer of your relinquished-coins. (See 3 Property Identification Rule)
180 Day Exchange Requirement: You must actually receive the benefits and burdens of ownership to your new-like-kind coins no later than 180 days after the date of the transfer of your old relinquished-coins. This means that you have to actually receive your new replacement-coins within the 180 day exchange-period.
Value Requirement: In order to defer all of the gain, your replacement-coins typically should be equal or greater in value than your old relinquished-coins, and all of your equity (or proceeds) from the sale of your old relinquished-coins should be reinvested into your new replacement-coins.
NOTE TO COIN-DEALERS: Inventory does not qualify for Section 1031 tax deferral because it is considered to be "property held primarily for sale". If you have coins that are really held as part of your "stock and trade" or "inventory" (i.e goods sold by you as a dealer) then you will probably be taxed on this gain at ordinary-income tax rates. Consult your CPA or tax advisor if you are a dealer.
Nation Wide Tax-Exchange Services:
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Call Me Directly (Toll Free) At 1-888-308-1031 For A Free Consultation - Or Click Here
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