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Steve Forbes: Sales of gold and silver coins should not be taxed
By Steve Forbes
Forbes.com, New York
Tuesday, March 12, 2019
When you exchange a 20-dollar bill for two 10-dollar bills, you don't pay sales tax on the transaction, even though, theoretically, you are "buying" the tens. The notion is preposterous.
Yet if you purchase a gold coin that was created by the U.S. Mint and is legally usable for commercial transactions, in some states you have to pay sales tax on that coin.
... Dispatch continues below ...
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Uncle Sam also says people who buy and sell such coins are liable for capital gains taxes.
Of course, you would never buy a silver dollar from the mint for, say, $35 and then use it to pay for a $1 candy bar, but the point is that such coins are legal tender. ..
... For the remainder of the report:
https://www.forbes.com/sites/steveforbes/2019/03/12/sales-of-gold-and-si...
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