Ohio bill would restore rare coins sales tax exemption
COLUMBUS (AP) — A legislative committee is continuing to consider a bill that would restore a sales tax exemption for residents purchasing rare coins and precious metal bullion.
The House Ways and Means Committee took written testimony on the bill today but held off voting on it.
The exemption was eliminated after a 2005 scandal centering around Republican fundraiser and coin dealer Tom Noe. He was convicted of stealing from a $50 million rare coin fund he oversaw for the Ohio Bureau of Workers’ Compensation. He’s now serving an 18-year prison term.
The collectible-coin industry has been pushing for the exemption to be restored since it was repealed.