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Are Taxes on(currency) Investments the same as for Collectors items ?

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Are Taxes on(currency) Investments the same as for Collectors items ? Empty Are Taxes on(currency) Investments the same as for Collectors items ?

Post by silkysand Tue Jan 17, 2012 2:46 pm

Hi Everyone

This question just started to linger on my mind for some time now. If what we're holding is not recognized as an investment and can not be promoted as an investment, But much rather as a collectors Item such as in Ebay etc....and before you add to this about ebay, when the sellers market the Dinar they manipulate their sales pitch indicating that " Could potentially increase in value".Which could also be interpreted as "A collectors item could also increase in value in time", catchy hum hehehe. .....so yeah, any pro out there that can provide any info is much appreciated. Thank you . Silkysand.

ex: currency tax %
vs (item)collectible tax %

Or do capital gain rules (short/long term) apply to either/or ?


anyone? anyone?.......... say what? say what? say what?


Last edited by silkysand on Tue Jan 17, 2012 4:37 pm; edited 1 time in total (Reason for editing : added more info)
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Post by madaussie Tue Jan 17, 2012 5:58 pm

I hope not because i seem to remember that the tax rates on profit from large gains on collectables was obscene.
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Post by Kevind53 Tue Jan 17, 2012 6:27 pm

Lot of questions there .... could be 15%/30% depending on how long you have had it ... others say no, safest bet, consult a good sharp tax attorney.

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Post by 1alaskan Wed Jan 18, 2012 4:32 pm

IRS PUB 525 page 33


Foreign currency transactions.

If you have a gain on a personal foreign currency transaction because of changes in exchange rates you do not have to include that gain income unless it is more than $200. If the gain is more than $200, report it as a capital gain.

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