Gain on the sale of collectibles held for more than 12 months is subject to tax at a rate no higher than 28%.

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This statement is true according to the IRS tax code. Gain on the sale of collectibles held for more than 12 months is subject to a maximum tax rate of 28%. This includes items such as art, antiques, precious metals, and coins. It is important to note that this rate is higher than the maximum tax rate for long-term capital gains on other types of investments, which is currently 20%.

Gain on the Sale of Collectibles Held for More Than