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Bullion and Coin Sales-Tax Exemption Successfully Defended Again in Maryland

Repeal attempt fails in committee after opposition by Whitman Expos, ICTA, Visit Baltimore

The Maryland House of Delegates’ Ways and Means Committee stopped a proposed repeal to the state sales tax exemption for certain coin and bullion sales on Wednesday, March 11, 2020. The committee’s Unfavorable Report on House Bill (HB) 1284 came after opposition from Whitman Coin & Collectibles Expo, the Industry Council for Tangible Assets, and Visit Baltimore.

Dillon Gage Explains Coronavirus Impacts on Gold

Gold rising graphICTA member Dillon Gage explains why the coronavirus epidemic ravaging China may send gold futures prices to 7-year record highs above $1,700 an ounce and up.

Gold is considered a safe-haven asset, attracting investors around the world in times of economic or geopolitical uncertainty. But it’s also a commodity that has physical form, and China is the world’s fastest-growing market for physical gold.

This duality has created a tug-of-war in the gold market since the start of the year, with bulls putting money into gold as a safety net, while many of the usual physical buyers in China dwindle because of disease-imposed restrictions on travel, work and movement.

Dean Schmidt Receives Service Award for Kansas Bill Efforts

The 2019 Diane Piret Memorial Outstanding Service Award recipient Dean Schmidt.Industry Council for Tangible Assets dealer-member Dean Schmidt (Dean Schmidt Rare Coins, Atchison, Kansas) was honored during the ICTA dinner and update at Tony Roma's in Orlando, Florida, on January 8 as the recipient of the 2019 Diane Piret Memorial Outstanding Service Award for his efforts to see Kansas House Bill 2140 passed. The bill provides a sales-tax exemption on sales of gold and silver coins and on all gold, silver, platinum, and palladium bullion.

“We thank Dean Schmidt for his continued perseverance over the years and the tremendous support of everyone who helped make this exemption a reality,” said chief operating officer David Crenshaw.

The dealer and collector communities, in conjunction with ICTA, put a tremendous amount of hard work into the grassroots campaign. Schmidt has championed the cause for the last four years, raising capital for lobbyist costs and reimbursing ICTA’s expenses, spreading the word to dealers and collectors, speaking at shows

ICTA Directors and COO Receive Numismatic Ambassador Awards

Numismatic ambassador award group 2019Industry Council for Tangible Assets directors Kim Kiick (American Numismatic Association) and Patrick Heller (Liberty Coin Service) and chief operating officer David Crenshaw were honored during the Numismatic Ambassador Awards Breakfast at the Florida United Numismatists Convention in Orlando, Florida, on January 10, 2020, as the recipients of three out of five new Numismatic Ambassador awards for 2019.

Patrick A. Heller Honored, New Treasurer and Secretary Installed

Patrick A. HellerPatrick A. Heller was honored during the Industry Council for Tangible Assets dinner in Rosemont, Illinois, on August 14. He is stepping down as treasurer after 17 years of service. Heller will continue to serve as a director and ICTA’s states’ sales-tax exemption guru.

“It has been my honor to serve as ICTA treasurer for so long. I won’t completely retire from ICTA as I will continue as a board member until next August,” said Heller. “Further, I will continue to serve ICTA with my expertise at helping gain more state sales and use tax exemptions on retail sales of precious metals bullion and rare coins.”

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