JM Bullion: Legal tender coins attract zero sales tax, except if the price exceeds face falue.....wait what!?

[JohnA1]

What a scam, let's see if they try to pull it on these shores as well 😅

[HonestMoneyGoldSilver]

Hmm, interesting

In the UK they're already illegally taxing us on legal tender silver coins - the 20% VAT!!

[HonestMoneyGoldSilver]

Wow I'm triggered by his comments about Europe and the 20% VAT - "that's why I don't live there"

In the UK we don't have to pay CGT on legal tender gold and silver nor do we have to declare every sale to HMRC, unlike the communist USA, and that's why I don't live there

Americans have to declare every sale of gold and silver to the IRS even if it's a trivial amount as the IRS wants to charge CGT. If silver and gold go up in value then Americans will pay a lot more tax than us, unless of course those unfortunate stackers have a boating accident - it can happen to the best of us 😁

[Norskgeld]

I have heard Fred Dashevsky from US Coin Capitol on a podcast say that, as a dealer, they don't have to inform the IRS of any Numismatic sales, only bullion.

It's under the guise of "anti money laundering" legislation.

[JohnA1]

It is amusing that those who print 'money' out of thin air (diluting everyone else's holdings) talk about 'money laundering'

Those who create the 'gains' in capital through printing demand CGT

 

Here I suspect JM Bullion was trying to pull a fast one, hoping the serfs just wouldn't notice/complain.  They are sponsoring so many youtube shills lately, so they need to extract more from the victims customers