I would've doubted this story if one of my teenaged sons hadn't told me months ago about trading pre-1965 coins for more money. He then went through our dimes and quarters and found some pre-1965. We stopped at two different "cash for gold" places to ask about trading silver coins. They do it all the time, and some people bring in loads of them.
So, this story is very credible.
Since then, I've been gathering coins... but I never thought about the taxes. Is anyone else out there trading pre-1965 coins for cash?
Pre-1965 coins in circulation are pretty rare these days.
Usually, some kid finds grandpa’s old coin collection and heads for the 7/11.