Sales tax will no longer apply to transactions involving coins, paper money and precious metals as of July 1 under terms of legislation signed into law March 24 by Indiana governor Mike Pence.
Indiana will become the 33rd state to have a complete or partial sales-tax exemption on the retail sales of rare coins, paper money and precious-metals bullion, according to the Industry Council for Tangible Assets.
It took two years of effort financed and spearheaded by David Hendrickson of SilverTowne, ICTA said.
Also part of the effort were lobbyist Mike McDaniel, ICTA treasurer Pat Heller and the ICTA staff.
“The Indiana dealer and collector communities owe Mr. Hendrickson a debt of gratitude for his generosity,” said ICTA executive director Kathy McFadden.
“I could not be happier with the outcome,” said Hendrickson.
Visit www.ictaonline.org for details.
This article was originally printed in Numismatic News Express.
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• Come on down to the Chicago International Coin Fair in Rosemont, Ill. on April 14 to 17, 2016 to see impressive world coins, meet new collectors and participate in Heritage Auction’s fantastic coin auction.
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