By Daily Crux Contributor Ryan Lepine:

A small victory, but victory nonetheless: thanks to an inundation of phone calls, letters, and emails from individual investors and coin/bullion dealers, Pennsylvania governor Rendell decided to drop his proposal to repeal the state’s tax exemption on sales of bullion and rare coins.

When faced with economic reality, the free market argument just made too much sense again. The state makes more money off of the economic activity generated by the many large national coin shows held there than it would make on the new tax.

If you are making a particularly large purchase of coins/bullion, then make sure to check your state’s laws on whether you will have to pay sales tax on it (a call to a local coin dealer will answer that question in about 5 seconds). If the answer is yes, and your purchase is fairly large, then maybe a trip to the Keystone state would be worth your while.

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