Ohio bill could restore rare coin sales tax exemption

The Associated Press reports a U.S. legislative committee is continuing its consideration of a bill that would restore a sales tax exemption for Ohio residents purchasing rare coins or bullion.

The House Ways and Means Committee took written testimony last week but postponed voting until further deliberation can take place.

The exemption was eliminated in 2005 following a scandal involving U.S. coin dealer Tom Noe, who stole from a $50 million rare coin fund he oversaw for the Ohio Bureau of Workers’ Compensation while fundraising for the Republican Party. He’s currently serving an 18-year sentence.

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