CONA June 2015 Newsletter

September Meeting

When: 7 p.m., June 17,2015
Where: Oakstone Academy
900 Club Dr., Westerville, Ohio 43081

Topic: Precious Metals Dealers Act
Speaker:Richard Keck

June Presentation

Richard Keck, the former chief examiner for consumer finance for the State of Ohio, will explain
how the Ohio Precious Metals Dealer Act relates to the business of numismatics. Rich will describe the circumstances under which coin dealers may need to be licensed under state law and will discuss the implications of the recent Ohio Supreme Court decision involving the act.

He also will include information about recent efforts in some municipalities to regulate bulk sales of copper and aluminum in attempts to curb thefts of those materials from abandoned homes and construction sites since many of those efforts are billed as regulating “precious metals dealers.” Rich has promised to stay and answer questions about state and local licensing of pawnbrokers and precious metals dealers since many of those businesses do, to some degree, engage in coin collecting and dealing.

May Presentation

Beth Deisher, former Coin World editor, said she wrote Cash In Your Coins — Selling the Rare Coins, now in its second edition, after fielding numerous calls from the widows of collectors, who didn’t know what they had or where to begin.

“Rarely does someone in the family share that interest,” she said.

Collectors should maintain an inventory, ideally saying where the piece was bought, its cost and current value.

Collectors should also include their coins in their will, leave instructions for the disposal of the coins and factor taxes (for big collections) into the equation.

She said she added 12 pages on taxes to the second edition of her book dealing with taxes.

By: Gerry Tebben

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