By Ed Reiter – Executive Director, Numismatic Literary Guild

Recently, hobbyist and investors were pleased to learn that legislatures in two states, Texas and Louisiana, had voted to eliminate tax on sales of coins and precious metals. Both states already were providing a sales tax exemption on coin and bullion transactions of $1,000 or more, but the new legislation eliminates that threshold in both states and removes the tax from sales of any amount.

Mike Fuljenz, of Beaumont, Texas spearheaded the fight in the Lone Star State, hiring a lobbyist and waging a two-year campaign to block threatened removal of the limited exemptions then in effect. “There were people pushing to do away with the exemption over $1,000,” Fuljenz said. “We not only got the legislature to preserve that exemption, but ended up gaining a total exemption on everything.”