Posted Jan 20, 2015 by Martin Armstrong
QUESTION: Hi Marty,
ANSWER: The “bullion” is bars. Yes there are “bullion” coins, but as long as it is recognizable in coin format you at least meet the average person test and second perhaps you will be in the exemption for collector coins that at least prevailed under Roosevelt as an exception. I would recommend $20 and $10 US gold coins common date that are just a few dollars above the bullion value. The ONLY reason we have gold coins that have survived is because Teddy Roosevelt was a ancient coin collector. Franklin understood that there had to be an exception for coin collectors because they existed in his family.
The nasty insane laws passed in Minnesota that anything containing 1% of precious metals must be tracked for the state is not looking very good for any exception. The more states that follow this lead warns more of a deep underground economy in the future. There would be nothing left standing when politicians strip the meat from every dead carcass. Lawyers ONLY know how to right laws – they do not understand their full implications. No lawyer should ever be allowed to hold office. Judges fine – but never politcal office.