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RE: The Inconvenient Truth about Junk Silver

in #silver7 years ago

@voice-of-apollo I agree! This isn't stopping me from stacking the stuff, because I really do believe it is going to explode if an economic crisis ever happens. As for the capital gains tax - there are two trains of thought here. First, many states (including my own , CO) have laws that US minted silver cannot be subject to taxes (I believe - and don't quote me on this - that American Silver Eagles also apply). Second, there is the idea that you can BUY something using these coins, with their silver value - but claim them as spending the face value. (For example I could buy a car with 500 Morgan dollars, and claim I bought the car for 500 dollars) - This circumvents the $10,000 capital gains tax laws

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That's very interesting. I'll definitely look into the tax consequences. I was of the simple belief that, besides barter, any capital gains need to be reported.

If you find anything out, let me know! I am always hungry to learn more - and spreading valid and valuable information is my only intent!

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