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To: jimcav who wrote (166747)	5/20/2002 3:53:40 AM
From: jimcav	Respond to of 436258

I know Sanders certainly strectched the idea, and should have payed taxes on the bullion, but the gov't idea that US gold coins exchanged for more than face value represents a tangible personal property doesn't make sense--maybe a gift tax? If I gave you a hundred dollar bill an you gave me a twenty, should you be taxed on the eighty extra you got? I suppose so. From the court opinion-- "With respect to Sanders's argument that the sales tax "demonetizes" legitimate currency, it is important to note that the tax does not in any way prevent the use of legal-tender gold and silver coins as media of exchange; it simply taxes the sale of such coins when there is evidence that they are being purchased as tangible personal property rather than exchanged for use as currency." Again, where is this determined? What is the evidence?