The Sound Money Movement

[Jolly]

https://www.moneymetals.com/news/2024/10/09/sound-money-gains-major-ground-seven-state-victories-in-2024-003528

[Horace]

There is a very nice family owned coin shop a few minutes away. They pay better for silver than the online places do. I got a big chunk of cash for a 100 oz silver bar a couple weeks ago, mostly for the fun of it, and also because I sort of think metals are peaking. No tax, and no tracking.

[Jolly]

Especially for metals that are legal tender, there should be no tax.

[Jolly]

And in that vein...Should the U.S. bring back some precious metal coinage? A $20 silver eagle? A $100 or $500 coin of some type of gold alloy?

[Horace]

It would complicate the investment angle if face value was sometimes above bullion value, and sometimes below. Holders of the coin could sell it for whatever is higher, which would increase the buying price of the coin, as it contained options for two different selling values. Eagles already have a face value of $1, but that's uncomplicated in that it'll always be lower than the bullion value.

[Jolly]

True, but a coin costs the Treasury less money by being more durable.

[Doctor Phibes]

I don't understand why there should be no tax on profits made trading in precious metals. The metal's value has no real connection to the legal tender aspect.