Imagine walking into a bank and trying to exchange two $10 bills for a $20 bill.
The teller takes your money and returns $19 in bills along with a few pennies while noting the puzzled look on your face.
“Sorry…taxes, you know.”
You’d be outraged. What could be more ridiculous than being charged tax for exchanging US legal tender for US legal tender? Yet this is the day-in, day-out reality of purchasing US-Mint-issued gold and silver coinage with US-Fed-issued dollars.
With one notable exception: Roth IRAs. Some investors are already enjoying tax-free precious metal investments via our partner, Equity Trust.
Join Mike Maloney as he explores new legislation that seeks to end the pervasive, senseless, and archaic penalty on real money: