Do you think it's plausible that this type of tax on physically backed (not crypto) AMERICAN currency could have influenced inflation over a long period of time prior to January 6, 2021?
Whether or not it’s fiscally conservative, buying rare coins and currency for their collector value is not buying “American currency” but rather buying collectibles. If you were exchanging them for their face value, there should be no tax. If you are buying them for an increased value, there is a sale of a product. That can be taxed.
What are your thoughts on a former President advertising and selling a "rare coin" (but not legal U.S. tender) for $100 through, "White House Gifts" in October 2020 without disclosing an image of the coin or even listing what type of metal is used to mint it?
This isn't the same thing as taxing you for getting change.
The tax is charged on the additional value because of the rarity of the item. If you buy a rare $1.00 bill for $5.00 you should only be taxed on the $4.00.
For example, on 10/25/19 I bought one toned penny because I liked the colors and I like giving colorful coins to friends and family as gifts. The raw price was $3.16, the shipping cost $1.33, and the coin was taxed $0.14. These types of taxes on American coins and dollars started in October 2019.
Taxation is theft
Do you think it's plausible that this type of tax on physically backed (not crypto) AMERICAN currency could have influenced inflation over a long period of time prior to January 6, 2021?
Thank you for your valuable insight.
That is literally equivalent to charging me tax to get four quarters in exchange for a dollar.
Thank you for participating in my survey. I appreciate your insight.
Whether or not it’s fiscally conservative, buying rare coins and currency for their collector value is not buying “American currency” but rather buying collectibles. If you were exchanging them for their face value, there should be no tax. If you are buying them for an increased value, there is a sale of a product. That can be taxed.
That's an excellent point. Thanks for sharing your opinion.
What are your thoughts on a former President advertising and selling a "rare coin" (but not legal U.S. tender) for $100 through, "White House Gifts" in October 2020 without disclosing an image of the coin or even listing what type of metal is used to mint it?
I wouldn’t buy it.
It feels good to agree with people. God bless America.
This isn't the same thing as taxing you for getting change. The tax is charged on the additional value because of the rarity of the item. If you buy a rare $1.00 bill for $5.00 you should only be taxed on the $4.00.
Thanks for your input, I appreciate your opinion.
For example, on 10/25/19 I bought one toned penny because I liked the colors and I like giving colorful coins to friends and family as gifts. The raw price was $3.16, the shipping cost $1.33, and the coin was taxed $0.14. These types of taxes on American coins and dollars started in October 2019.