Pennsylvania Gov. Edward Rendell signed a new state budget on October 9 and the good news for coin collectors and dealers is it did not include a repeal of the hard-won sales tax exemption for investment coins and bullion established in 2006.

Following Gov. Rendell's pronouncement that he would seek a repeal of a range of sales tax exemptions, the coin and currency collecting community moved quickly to help the Governor and his staff understand the very strong public policy considerations in favor of leaving the exemption intact, not the least of which was the economic impact of shows like the recent Whitman Coin & Collectibles Philadelphia Expo, which alone added an estimated $10 million to the Pennsylvania economy.

Numismaster.com reports that the Industry Council for Tangible Assets (ICTA) was joined by the ANA, Monroeville Mayor Greg Erosenko and Philadelphia Michael Nutter in stressing the need to retain the exemption as a way of allowing small businesses and investors to contribute to the economic health of the state. Among those credited with carrying the day was Whitman's own David Crenshaw, General Manager of Whitman Expo, LLC.

Congratulations to everyone throughout the industry who helped ensure that rationality and common sense carried the day in this critical policy arena.