LYNCHBURG, VA. (AP) -- While a new state law is forcing some large online retailers to collect Virginia sales taxes, it's not providing a lot of relief along Main Street in Lynchburg or anywhere else.
Ask Thomas Wood, a retired New Jersey pharmacist who moved to Lynchburg and opened a rare coins business downtown 16 years ago.
He sold a half-ounce gold coin for about $1,000 on Thursday to a collector who just happened to stop by while campaigning.
Wood said the coin had gathered dust for months while identical copies sold briskly online, offered by sellers who collect no sales tax.
Despite the new law, Laurie Aldrich of the Virginia Retail Merchants Association cites an analysis that estimates Virginia loses $422 million in sales taxes annually to untaxed online sales.