This U.S. Mint numismatic sales report covers the week ending Sunday, December 10, 2017. In this time frame, one new item was added to the roster: the 2017 America the Beautiful–George Rogers Clark National Historical Park 5-oz. Uncirculated silver ...

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U.S. Mint Sales Report: Week ending December 10, 2017 and more...

U.S. Mint Sales Report: Week ending December 10, 2017

The top-selling Mint product for the week of 12/10/2017: The 2017 United States Mint Proof Set (17RG).

This U.S. Mint numismatic sales report covers the week ending Sunday, December 10, 2017. In this time frame, one new item was added to the roster: the 2017 America the Beautiful–George Rogers Clark National Historical Park 5-oz. Uncirculated silver coin (17AN), released December 5. The top-selling product for this period was the 2017 United States Mint Proof Set (17RG) at 17,705 units sold. Coming in at a close second was the George Rogers Clark National Historical Park 2017 Uncirculated Five Ounce Silver Coin (17AN), at 14,612 units sold. The third hottest item was the 2017 United States Mint Silver Proof Set (17RH) which enjoyed 9,842 sold units during this period. These were followed by the American Eagle 2017 One Ounce Silver Proof Coin (17EA) and the 2017 United States Mint Uncirculated Coin Set (17RJ) in fourth and fifth place, respectively.

There were only a handful of...

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Confused over proposed tax legislation and like-kind exchanges?

There is some misinformation floating out around the dealer community intermingling “like-kind exchanges” and three different sections of the tax code (1031, 1099-b and bartering).

The Industry Council for Tangible Assets (ICTA) has produced a white paper which goes into detail providing a comprehensive explanation of each section of the tax code. The purpose of the paper is to try and make it as simple as possible to understand.

The paper has been released to ICTA members to aid them in assessing the effects of these revisions if they engage in like-kind exchanges. To access the white paper, ICTA members log in at ictaonline.org and select Resources > White Papers > Broker Reporting > Like-Kind Exchange and Barter.

ICTA is also making the paper available to non-members for a limited time. For information to obtain the white paper, visit the ICTA’s website.

For more extensive information on the rules and regulations of filing a 1099-b, purchase the ICTA Broker...

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“One-man library” Q. David Bowers to contribute a weekly column starting on January 3

Background photo by Jeff Belmonte.

The late, great, Ed Reiter once called Q. David Bowers a “one-man library” due to his propensity to not only produce a massive amount of content, but to imbue each and every article, column, or book with quality as well. Commencing Wednesday, January 3, 2018, Coin Update and Mint News Blog will have the pleasure of hosting a weekly column by the world-renowned numismatist and prolific author. Every Wednesday, both blogs will be featuring a regular piece by Bowers, who was named one of the Numismatists of the Century by COINage magazine. Bowers himself describes the columns as covering topics such as “nostalgia, philosophy, and current events,” the latter of which particularly refers to auctions. Readers of the two blogs are in for a treat, as Bowers’s very name is synonymous with the field of numismatics.

Quentin David Bowers was born on October 21, 1938, in Honesdale, Pennsylvania, and since the age of 14 has massively contributed to...

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U.S. Mint’s response to members of Congress lacks commitment

Acting Deputy Director of the U.S. Mint David Motl’s November 17 response to an October 27 letter from U.S. Representatives Frank Lucas (R-OK) and Alex Mooney (R-WV) requesting information regarding the Mint’s efforts to combat the rising tide of counterfeit coins entering the United States lacks commitment.

“While the Anti-Counterfeiting Task Force (ACTF) appreciates Acting Deputy Director Motl’s acknowledgement that counterfeiting represents a serious threat to the nation’s coinage, we are nevertheless disheartened that the U.S. Mint’s efforts on the anti-counterfeiting front do not reflect a serious commitment to act against this threat,” said Beth Deisher, Industry Council for Tangible Assets’ Director of Anti-Counterfeiting who also coordinates the ACTF.

In his letter to congressmen Lucas and Mooney, Motl points to the Mint’s Second Annual Numismatic Forum, held on October 17 to discuss marketplace issues with 68 industry leaders. In fact, this forum would have...

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Bitcoin: Digital bullion, or just digital?

Image by Uberpenguin.

In a recent interview on the “Fast Money Halftime Report,” renowned trader Mark Fisher discussed the similarities between the current hype for the cryptocurrency Bitcoin and the silver rush seen in the late 1970s and 1980s. Fisher attributes Bitcoin’s rapid rise in value to its organic popularity (i.e., no meddling by Wall Street) and massive public interest. However, what truly separates Bitcoin from silver is that Bitcoin is a cryptocurrency, while silver is, and most likely always will be, considered a precious metal. Therefore, Bitcoin’s value as a currency is completely determined by the value placed on it by consumers. While some are beginning to consider Bitcoin the first incarnation of digital bullion, there are some important points to consider before placing the same level of trust in it as one would for gold or silver.

A typical Bitcoin transaction. Photo by FlippyFlink.

“Cryptocurrency” is defined as a subset of digital currency in...

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