8/29 Numismatic Collecting News

		Collectors Can Help Repeal New 1099 Requirements August 29, 2010 at 3:15 PM     The American Numismatic Association urges its members to contact their members of Congress and ask to repeal a law that could significantly increase the paperwork burden on dealers and increase the risk of identity theft for all collectors who buy and sell numismatic material. Under Section 9006 of the Patient Protection and Affordable Care Act, commonly known as health care reform legislation, businesses will be required to report all goods and services purchased in excess of $600 with an IRS 1099 form. As written, the law would, beginning in 2012, require all coin dealers to report on IRS form 1099 all goods and services (totaled across a taxable year) they purchase from other dealers and customers in excess of $600... Full Article: Collectors Urged to Help Repeal New 1099 Requirements - CoinNews.net Related posts: $600 in coin sales or purchases = Tax form? Coin collectors, art dealers fear restrictions on Chinese imports – The Hill
		Why US Mint keeps producing dollar coins August 29, 2010 at 3:06 PM     In hidden vaults across the country, the US government is building a stockpile of $1 coins. The hoard has topped $1.1bn - imagine a stack of coins reaching almost seven times higher than the International Space Station - and the piles have grown so large the US Federal Reserve is running out of storage space. Americans won't use the coins, preferring $1 notes. But the US keeps minting them anyway, and the Fed estimates ... Full Article: Why the US keeps minting coins people hate and won't use - BBC News Related posts: U.S. Mint tries to get consumers to use dollar coins – USA Today United States Mint Markets Dollar Coins, Public Say No – Coin News
		Coin Grading Coin Scale Explained August 29, 2010 at 2:59 PM     The Sheldon Scale is the primary system in use for determining the grade of a coin.  The possible grades range from Poor-1 to Mint State-70 (usually expressed as MS-70).  Every possible number in between is theoretically available for describing a coin's state of preservation, but in practice only certain points of the scale are used (such as EF-45, but ... Full Article: The Sheldon Scale for Grading Coins - Susan's Coins Blog The Sheldon Scale is the primary system in use for determining the grade of a coin.  The possible grades range from Poor-1 to Mint State-70 (usually expressed as MS-70).  Every possible number in between is theoretically available for describing a coin's state of preservation, but in practice only certain points of the scale are used (such as EF-45, but Related posts: DGS in-house grading service explained Coin Grading Made Simple
		Susan Gamble, artist from New Braunfels does coin design August 29, 2010 at 2:56 PM     You may not know who artist Susan Gamble is, but chances are you have one of her drawings. And you're carrying it in your pocket. Gamble, who lives in New Braunfels, is one of five master designers in the country whose renderings are used as artwork on coins for the U.S. Mint. She drew the leaping ... Full Article: Artist from New Braunfels does coin design - TimesRecordNews.com Related posts: Artist could earn $7000 for new coin design The Lincoln penny designed by Ogunquit artist