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  Taxability of rare, mintage coins whose sales price is based on rarity, demand and mintage.
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  Q. Are sales of coins whose sales price is based on rarity, demand, condition and mintage subject to Connecticut sales and use taxes?
  Answer
 

A. No. Sales of rare or antique coins whose sales price is based on rarity, demand, condition and mintage are not subject to Connecticut sales and use taxes under Conn. Gen. Stat. § 12-412(45). This rare or antique coin exemption applies to coins which are or were the legal tender of any government of the world, whatever the age of the coins, and whose price is based upon rarity, demand, condition and mintage, and whose price does not fluctuate daily or at regular intervals based on fluctuations in the price of precious metals. This rare or antique coin exemption applies irrespective of the sales price of the rare or antique coins.

Proof sets sold by the U.S. Mint, including gold, silver or platinum American Eagle Proof coins, fit within this rare or antique coin exemption.

However, this rare or antique coin exemption does not apply to sales of medals, tokens or paper money, and also does not apply to sales of gold or silver bullion, or sales of gold or silver coins, traded according to their value as precious metal. See FAQ 708 for information on whether sales of gold or silver bullion, or sales of gold or silver coins, traded according to their value as precious metal, are subject to Connecticut sales and use taxes.

(Updated: 2015)

This answer is intended to provide general information concerning a frequently asked question about a current position, policy, or practice associated with the taxes administered by the Connecticut Department of Revenue Services.  It may include an informal interpretation of Connecticut tax law by the Department of Revenue Services (DRS).  However, it is not intended to serve as a legal ruling.

 
 
 
  
 
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