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please help me on "Junk Coins"


punchy

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Jewelers were probably the biggest source of double eagles for decades following the gold recall of 1933. I remember reading stories where collectors and dealers would go to jewelers to buy rolls of Saints rather than to coin dealers. As for the IRS, technically all of these items are reportable. Silver bullion is somewhat more advantageous as they are considered an investment, so if you buy a 100 oz. bar for $1200 and sell it later for $1000, you can deduct the $200 loss. Collectible coins may fall under "collectible gains" in other income and you can only deduct losses to the extent they offset a gain.

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