Make #Coin Collecting Tax Free? Make coin collecting tax free? - Numismatic NewsNumismatic News. Should the profits that go to coin collectors when they sell their collections be tax free?
Should coin dealers be exempted from paying income tax? I ask these questions after I received a press release about U.S. Representative Alex Mooney, R-W.Va., introducing legislation called the Monetary Metals Tax Neutrality Act Sept. 7. Mooney is quoted this way: “My view, which is backed up by language in the U.S. “If they’re indeed U.S. money, it seems there should be no taxes on them at all. Constitutional issues aside, motivation for the legislation is that increasing prices of gold and silver expressed in fiat paper U.S. dollars are not really gains at all because dollar price increases are simply inflation. This would make it a more mainstream argument as there is a broader effort under way by the U.S.
The devil is in the details, which is true of most things. How would you interpret the following passage in the two-page Mooney bill: “8 ‘No gain or loss shall be recognized on the sale or. When Will Quiet #Metals Market Get the Catalyst They Need? When Will Quiet Metals Markets Get the Catalyst They Need? Fear and greed drive the precious metals markets, but there hasn’t been much of either pushing gold and silver prices lately.
Investors have grown tired of worrying about geopolitical events, ever increasing federal debt ceilings and ever inflating equity bubbles. Meanwhile, greedy trend traders continue piling in to hot markets. With the exception of palladium, metals prices have been stagnant for most of the year. For the time being, gold and silver are looking pretty boring relative to the hefty gains in stock prices and the explosive rise in Bitcoin. Goldbugs are still waiting for a catalyst to shift investor attention back to the metals markets. The equity markets remain overdue for a significant correction, and that would definitely stir some safe-haven demand. There is, of course, no telling when the next bear market in stocks will arrive. Bitcoin prices may also correct, diverting some of that capital instead into gold and silver.
By Clint Siegner, Money Metals Exchange. Why You Need to Own #Gold in 2015 and Beyond. Why you need to own gold in 2015 and beyond. Debt is a rock, and spending reform is a hard place.
The taxpayers of today and tomorrow are saddled with crushing obligations. Yet we must watch helplessly as leadership in Washington DC continues expanding government — borrowing what they can and simply printing what they cannot. Each day more Americans sense a reckoning is coming. Our government is increasingly insolvent. The unbacked dollar is certain to be worth less, and it may not survive at all. The problem is dishonest money. Honest money in the form of physical gold is the solution. Also, during key periods in history, investments in gold did more than simply hold value; they produced real profits.
We’ve seen it before. Gold is beautiful and rare. Gold Represents Timeless Value Gold’s universal appeal across continents makes the metal extraordinary. People navigate in a world of cycles and change. An anecdote, often told, highlights gold’s relatively constant value. Paper Money Is Losing Credibility by the Day.