I want to first extend another “thank you” to Mark Borckardt, our second speaker in the MSNA Distinguished Lecturer Series for his visit with us during the Whitman coin show this past June. Mark’s lecture, Sixty Minutes at the First Mint, was well received and nicely attended. His delivery of well researched and little known information on early Mint personnel, operations, and challenges was truly engaging, if not fascinating. The MSNA board is already working the effort to secure our third distinguished lecturer as we continue this series into 2011.
As we roll into autumn here, I’m pleased to note how firm the state of the numismatic hobby is here in Maryland and the country at-large. However, a wanting economy and sluggish economic environment continues to weigh in on many fronts. A section of recently passed Congressional legislation for health care reform presents a potential risk for the future health of our hobby. The American Numismatic Association urges MSNA and its members to contact their members of Congress and ask to repeal a section of health care reform law that could significantly increase the paperwork burden on coin dealers and increase the risk of identity theft for all collectors who buy and sell numismatic material. Under Section 9006 of the Patient Protection and Affordable Care Act, commonly known as health care reform legislation, businesses will be required to report all goods and services purchased in excess of $600 with an IRS 1099 form. As written, the law would, beginning in 2012, require all coin dealers to report on IRS form 1099 all goods and services (totaled across a taxable year) they purchase from other dealers and customers in excess of $600.
Our recently launched MSNA website (www.mdstatenumisassn.org) remains in its infancy with continuing maturity efforts underway. For the remainder of 2010 we will devote even more time and effort towards maturing the website design, content, and functionality options.
Thanks again to all who submitted those fine articles for the Maryland Numismatist Best Article contest. Our judges will soon be announcing the winner of the $50 certificate to be used at the November Whitman show.
I leave you to a nice read of the remainder of this issue. I hope to see many of you at the Whitman Expo coin show this coming November in Baltimore.
Jack Schadegg, MSNA President