Any Hobby Impact Left From Tax Day?
April 15, 2010
Does April 15 tax filing deadline have the same impact it used to on the business of numismatics?
In the 1970s my first boss had his annual column at this time of year pointing out all the money that was being drained away from the hobby and how that tended to slow things down.
Obviously, if you are writing a check to the Internal Revenue Service, you can’t spend that money on coins.
However, it seems to me that the increasing sophistication of the business side of things over the years negates some of the impact tax day used to have.
Corporations aren’t going to suspend their operations for a few weeks because of a tax payment. Individuals are more than ever required to pay as they go.
A sudden money drain seems to be a thing of the past.
Since we are at the height of the annual collecting season, it would seem this cycle plays a greater role than tax day.
To use the metaphor of Citigroup, “When the music is playing, you’ve got to get up and dance.”
Shows are being held. Dealers and collectors need to be there.
The economic cycle seems to be pushing us now to greater activity rather than less.
Gold is still strongly underpinning part of the market and contributing to dealer cash flow.
What’s the conclusion? This year at least, April 15 seems to be just another day.
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