Silver coins for sale free#
It is the fiat dollar that does not suit a modern free market economy. There is no need to force people to do what’s good for them. However even without coercive laws, people choose cars over horses and mobile phones over telegraphs. They think that a purely paper money is good for us, and that gold won’t work. Most economists, notably Nobel Prize winner Paul Krugman, are opposed to any form of gold standard. If the paper dollar serves our modern economy better than gold then people will continue to choose it. We should repeal the capital gains tax on gold and silver. The capital gains tax renders it inconvenient to use gold and silver as currency. Your tax return must include a ledger of all of your silver transactions. Each time you use one in trade, you must record the date and current market price. You have to keep records of the date and price of each coin you buy. If the tax expense doesn’t stop the circulation of silver, then the onerous reporting and filing requirements will. You must pay tax based on the gain in the silver price from when you bought it.
The IRS treats this trade as a sale of the silver at the current market price.
Suppose a restaurant wants to be paid in silver and you agree to buy a steak dinner with an Eagle. Thus gold and silver are best suited to long-term preservation of wealth: hoarding. The only way to avoid this tax is by not selling. The government takes 28 percent of this difference, or about $400. If the dollar loses half its value, then the gold price will double, say from $1,400 to $2,800. The government treats this as a “gain” and upon sale of the metal, levies a tax on it. As the dollar falls, the prices of the metals rise. The Fed debases the dollar, but of course not gold and silver. There are a number of reasons, but let’s focus on one: the capital gains tax. More importantly, even if the server takes the silver, you have simply moved one ounce to the server.This ounce will be hoarded, and not spent. When the silver price rises rapidly, the idea becomes less practical. At a restaurant, you might explain to a server that silver is real money and offer a choice of a tip paid on the credit card slip vs. However, they don’t circulate, even within the gold and silver community.įor example, suppose you wanted to kick-start circulation. This is why people buy gold and silver coins. While there are many opinions about the specific consequences, there is a growing realization that it won’t end well. We must explain why they don’t use one to buy a steak dinner.Ī growing number of people recognize that the Fed, under Chairmen Greenspan and Bernanke, has been abusing the dollar beyond all precedent, if not all reason. So the question is not why people don’t use a silver coin to buy a soda. When precious metal coins are bought and sold, everyone understands that the price is based on the current market value of the metal. The legal tender value is just a nominal value arbitrarily set by law. Still, this doesn’t really solve the mystery. Obviously, no one would use $23 worth of silver to buy a can of Diet Coke from a vending machine.
The one-ounce silver Eagle has a legal tender value of $1 (silver is currently over $23/ounce) and the gold Eagle is a $50 coin (the gold price is almost $1,400). One problem is that these coins are stamped with a face value far below the value of the metal content.
a_silver%2Bcoins%2Bsilver%2Bbritish%2Bcoins.jpg "silver coins for sale")
This is a serious mystery that requires some thought to solve.
0 kommentar(er)
