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If you sold physical gold assets — like gold coins, for instance — the tax bill could be even higher. "That's considered a collectible and is taxed at a higher rate," Chancey says.
Butler, 95 U.S. 694 (1877), establishes that the law makes no legal distinction between the values of coin and paper money used as legal tender: A coin dollar is worth no more for the purposes of tender in payment of an ordinary debt than a note dollar. The law has not made the note a standard of value any more than coin.
A Series 1934 $10,000 gold certificate depicting Salmon P. Chase, Smithsonian Institution. Gold certificates were issued by the United States Treasury as a form of representative money from 1865 to 1933. While the United States observed a gold standard, the certificates offered a more convenient way to pay in gold than the use of coins.
The same paragraph also exempted "gold coins having recognized special value to collectors of rare and unusual coins", which protected recognized gold coin collections from legal seizure. The 1934 Gold Reserve Act subsequently changed the statutory gold content of the U.S. Dollar from $20.67 to $35 an ounce. While this might be seen to some as ...
Coin collecting might be a hobby for many, but it’s also a way to turn a profit. That’s especially true when it comes to valuable gold coins that sell for thousands or even millions of dollars ...
In terms of specific places to sell gold bars and/or coins, choices include the United States Gold Bureau and dealers/platforms such as Cash for Gold USA, Express Cash Gold, Worthy, Sell Your Gold ...
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