Hobby Friendly Legislation Supported by ANA and Whitman

Maryland Gov. Martin O’Malley today signed legislation that will exempt coin dealers from the requirement to obtain a Maryland trader’s license for the American Numismatic Association’s World’s Fair of Money® in Baltimore, July 30-Aug. 3.

Whitman Publishing, LLC, along with the ANA and the Industry Council for Tangible Assets, worked together to successfully lobby to change Maryland’s trader’s license law. The resulting legislation removes burdens that numismatic dealers would have otherwise faced this year if they had participated in more than three coin shows in Maryland within a 365-day period. With four major coin shows planned in Baltimore this year (three by Whitman Baltimore Coin and Collectibles Conventions plus the ANA World’s Fair of Money), dealers would have had to apply for a state trader’s license that would have created ongoing regulatory and taxation burdens. With the new legislation, that requirement now excludes the 2008 Baltimore World’s Fair of Money as it is promoted by the ANA, a non-profit national organization.

“This is a landmark effort on behalf of the hobby and will greatly benefit dealers and collectors at this year’s World’s Fair of Money as well as at Whitman shows,” said ANA President Barry Stuppler. “I thank Whitman Publishing, ICTA and ANA Government Affairs Committee Co-Chairs Mark Olanoff and Diane Piret, who worked tirelessly to ensure that this legislation passed. I think this speaks volumes about what the numismatic community can accomplish when we work together.”

Without the legislation, dealers would have been faced with a dilemma: skip one or more of the Whitman Baltimore shows or not take a table at the World’s Fair of Money. Had they set up shop at all four shows, they would have faced complex tax and regulatory burdens. Ultimately, fewer dealers would have elected to set up at all four shows, giving collectors fewer choices and, possibly, causing the ANA to lose significant revenue from its largest annual show.

In its letters to Maryland legislators, Whitman Publishing noted that its Baltimore Coin and Currency Conventions attract tens of thousands of visitors to the city, with an estimated economic impact of over $10 million, and that the ANA World’s Fair of Money is anticipated to generate another $14 to $15 million.

“This bill benefits everyone in the hobby,” said ANA Executive Director Larry Shepherd. “Dealers can now feel free to attend all four shows and take advantage of a very robust coin market. Collectors will benefit by having more inventory to choose from and greater competition at the shows. And the city of Baltimore will continue its emergence as one of the nation’s premiere locations for numismatic shows.”

House Bill 1386 was presented to the House Committee on Economic Matters, sponsored by Delegate David D. Rudolph (Democrat, District 34B). Senate Bill 900 was presented to the Senate Finance Committee, sponsored by Senator Katherine Klausmeier (Democrat, District 8). Both bills were passed by the Maryland Legislature. The bill’s synopsis specifies that “exemption from the trader’s license requirement imposed on exhibitors applies to exhibitors that provide the promoter with an affidavit stating that the exhibitor has not participated in more than three shows, not including participation in a specified national show [the World's Fair of Money], in addition to the certain annual income limits.”

The American Numismatic Association is a nonprofit organization dedicated to educating and encouraging people to study and collect money and related items. The ANA helps its 32,500 members and the public discover and explore the world of money through its vast array of education and outreach programs, and its museum, library, publications, conventions and seminars. For more information, call 719-632- 2646 or visit www.money.org.

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