World Coins

European court rules Bitcoin tax free: Coin World Buzz

The European Court of Justice ruled last week that Bitcoin is now exempt of VAT (value added tax) and can now be bought and traded as traditional money throughout the European Union.

Wikimedia Commons image courtesy of Web-dev-chris

1. Big news for Bitcoin

In a ruling handed down on Oct. 22, the European Court of Justice made Bitcoin and other virtual currency alternatives tax-free, meaning they can be treated like traditional commodities.

CNBC reports that Bitcoin can now be bought and exchanged throughout the European Union without a VAT (value added tax). 

This is a significant step forward for Bitcoin, a virtual form of currency that allows citizens to exchange credits for goods and services.

The ruling comes after the Swedish Tax Authority appealed against a decision by the Swedish Revenue Law Commission, which barred a Swedish national from operating his online bitcoin exchange.

A similar ruling was announced by the U.S. Commodity Futures Trading Commission in September, making it a commodity along the lines of gold and oil.

Here’s what the ruling means for virtual currency moving forward

2. 'Napoleon’s Nation' on coins

Napoleon Bonaparte's Cisalpine Republic has a short and intriguing history, some of which was depicted on coins.

"Maps no longer feature a place by the name of the Cisalpine Republic, but metallic mementoes reflect the tiny nation’s turbulent times," Jeff Starck writes. "A silver scudo di lire sei (“scudo of 6 lire”) from Year VIII (1800) is one highlight from Stack’s Bowers and Ponterio’s Nov. 5 and 6 Baltimore world coin auction."

See the coins, learn more about the nations' brief history.

3. Rare coin jewlery in NYC exhibit

"Beyond being items of commerce and stores of wealth, they also can be objects of personal adornment. Since ancient times coins have been used in jewelry, and today, some of the finest and most expensive jewelry incorporating coins is produced by the Italian firm Bulgari."

The show runs from Oct. 15 to Nov. 22 at 730 Fifth Ave., New York City, which is Bulgari's flagship store. 

Have a look at a few of the 18 ancient coins.

4. Connect with Coin World:  

5. Precious metals pricing

Kitco.com listed the following prices per ounce as of 4:50 p.m. ET Thursday:

6. Hot topics

Have a look at the three most-read stories of the last week on CoinWorld.com:

  1. SS Central America shipwreck find astounds with gold: Q. David Bowers
  2. Check your 1998 American Eagles; they might be on wrong planchet: Guest Commentary
  3. Silver tetradrachms of Athens were the original trade coins

7. Something social


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