Definitions for "Collectibles"
Personal property, such as baseball cards, coins, stamps, works of art and memorabilia, that is held for investment. Collectibles are exchangeable under INTERNAL REVENUE CODE Section 1031. Collectibles are subject to a higher maximum capital gains tax (28% as of 1/1/04) than other capital assets which are subject to a maximum capital gain rate of 15%.
Items that increase in value over time because of scarcity or rarity. Examples include baseball cards, dolls, jewelry, stamps and antique toys.
objects such as art, jewelry, baseball cards, and antiques that people buy in the hope that the objects' value will increase.
Premiums designed to have inherent value based upon their perceived "collectibility."
A type of premium that consumers may desire to have as a part of a greater collection of similar goods.
Modern cars that are of limited production or special interest.