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2009-03-19 Home Front Economy
US Mint Suspends Production of More Gold and Silver Coins
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Posted by Anonymoose 2009-03-19 00:00|| || Front Page|| [11134 views ]  Top

#1 The new obama coins, minted in pot metal, the new backing for US currency, should be available Real Soon Now...
Posted by M. Murcek">M. Murcek  2009-03-19 00:13||   2009-03-19 00:13|| Front Page Top

#2 The headlines misleading. They are flat out producing bullion coins, so no capacity to produce special editions.
Posted by phil_b 2009-03-19 00:40||   2009-03-19 00:40|| Front Page Top

#3 making sure the treasury is useless?
Posted by newc">newc  2009-03-19 01:03||   2009-03-19 01:03|| Front Page Top

#4 Any profit made on the sale of bullion is subject to capital gains tax. Collectible coins are sold at a cost premium and are currently not subject to taxation or to confiscation as in 1933.
Posted by SR-71 2009-03-19 06:45||   2009-03-19 06:45|| Front Page Top

#5 What is the premium?
Posted by Cynicism Inc 2009-03-19 06:49||   2009-03-19 06:49|| Front Page Top

#6 Law is if the collector value (aka premium)is 15% above bullion value, then the 'coin' is not subject to taxes or confiscation.

The mint will only issue bullion now.
Posted by SR-71 2009-03-19 07:39||   2009-03-19 07:39|| Front Page Top

#7 I'd be a little cautious about putting all my eggs in the bullion basket. Under the "new deal" President Rooselvelt outlawed the private ownership of gold. With private ownership of gold illegal in the U.S., Roosevelt re-defines the U.S. "dollar" from 25.8 grains of 900-fine gold to 15.375 grains of 900-fine gold, and starts paying off the 20 billion dollar federal debt in these new smaller "dollars".
Posted by  Besoeker 2009-03-19 08:12||   2009-03-19 08:12|| Front Page Top

#8 Replace Gold with the $3 Dollar Obama Bills. It will 'Stimulate' both the economy and the senses.

Order now.

Special Consideration: These bills can not be used to pay US taxes or buy US treasury bonds; May only be used for Carbon offsets and super-duper batteries
Posted by airandee 2009-03-19 08:42||   2009-03-19 08:42|| Front Page Top

#9  Please provide a link for the "flat out production of bullion coins", I can't find it.
The US Gov't has confiscated gold coins before, the confiscation was ratified by the US Supreme Court, and they can do it all over again. Hoard your 1909-1982 Lincoln pennies, they are worth 115% of their face value, in copper. Come to think of it, it's been a very long time since I've seen one in circulation.
Posted by Anguper Hupomosing9418  2009-03-19 11:39||   2009-03-19 11:39|| Front Page Top

#10 As for confiscation please keep in mind that "Rules (Laws) are for the obedience of fools and the guidance of wise men".
Posted by Canuckistan sniper 2009-03-19 13:50||   2009-03-19 13:50|| Front Page Top

#11 American Eagles are the dollars I prefer right now.
Posted by European Conservative 2009-03-19 15:51||   2009-03-19 15:51|| Front Page Top

#12 collectable coins aren't taxed.

When you sell them, you are supposed to report your earnings, which will be taxed at 28%

I might be wrong, but it sounds more likely than "not taxed"
Posted by flash91 2009-03-19 16:15||   2009-03-19 16:15|| Front Page Top

#13 I'm investing in base metals - copper, zinc, lead, in various alloys. And a little mercury too. Oh, and a mess of nitrate compound.
Posted by Glenmore">Glenmore  2009-03-19 19:59||   2009-03-19 19:59|| Front Page Top

#14 I'm stockpiling food.
Posted by Deacon Blues 2009-03-19 20:54||   2009-03-19 20:54|| Front Page Top

#15 Food, water, ammo components.
Posted by Alaska Paul 2009-03-19 22:55||   2009-03-19 22:55|| Front Page Top

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