![]() Arizona: coins, paper money, precious metals.Alaska: exempt at the state level may be taxed at the local level.Read on to learn what’s exempt and taxable where And in some states, money is sometimes taxable: certain sales are taxable and certain are exempt. In some states, sales of all types of money are exempt. Some sorts of money-typically coins, paper money and precious metals-are subject to sales tax in many states. When the exemption takes effect on July 1, 2016, Indiana will become the 33rd state in the union to provide such an exemption. In some states, sales of all types of money are exempt.Ĭoin dealers and collectors in Indiana are celebrating the recent enactment of House Bill 1046, which creates a sales and use tax exemption for precious-metals bullion, rare coins and paper money. and all cyber-related scams at the FBI’s Internet Crime Complaint Center at sorts of money-typically coins, paper money and precious metals-are subject to sales tax in many states. All non-currency coins and bullion should be reported to the Anti-Counterfeiting Task Force at ![]() You can also file a complaint with the U.S. Secret Service office which can be found at currency should be reported to your local U.S. All identified Counterfeit coins involving U.S. If you believe that you are the victim of a counterfeit coin scheme, immediately report the activity to the online payment provider or credit card company used for the transaction. Protect your investments by dealing with reputable companies and dealers. Check online reviews and Better Business Bureau complaints before making a purchase. The FBI reminds readers to always research online sellers before buying coins and precious metals online. If you decide to purchase outside this venue, ensure that the coins are tested by a certified organization, before making a purchase. Protect your wallet and your personal data by purchasing from reputable, registered coin dealers. Do not let online scammers rob you of your investment. Many victims find purchasing online an easy method to make investments, as they can easily find what they are looking for, pay cheaper prices and have their investments delivered right to their door. Scammers capitalized on the financial uncertainty and nation-wide coin shortage brought on by the COVID-19 pandemic to take advantage of amateur investors online. In 2020, CBP seized over $1.64 million in counterfeit cash and coins at Chicago O’Hare International Airport. Customs and Border Protection (CBP) officers at Chicago’s international mail facility seized 279 shipments from China containing counterfeit coins and currency. An increasing number of counterfeit coins are being seized at US ports-of-entry. Online estimates reveal that consumers spend millions of dollars buying valuable or rare coins, but most receive near-worthless foreign-made counterfeits. Online advertisements used by scammers claim the coins are authentic however, consumers are receiving fake coins and precious metals. There are three types of counterfeit coins: transactional coins (quarters, dimes, etc.), numismatics (high value collectables), and bullion (precious metals). The FBI and the Department of Treasury are warning the public that counterfeit coins are being sold on various online auction, social media and retail websites, targeting investors and collectors. The FBI Warns the Public of Counterfeit Coin Scams
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