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7/13/2025, 3:13:08 AM
>>510223683
>Do you know what that is?
Legal tender is the currency specified by law that either may, or must be accepted. Today it is almost universally fiat. Some States have passed laws making physical gold and silver VOLUNTARY legal tender that may be accepted on the discretion of the recipient.
The reason for making gold and silver legal tender is to change the status of the gold and silver from a commodity that can be taxed when it changes hands, to a legal form of money which is not subject to a "sales tax". There is also the issue of appreciation and captal gains where money by definition doesn't "appreciate". Prices of OTHER things can go up or down relative to hard money, but the money itself hasn't changed.
Demonitizing gold and silver has made the topic more complex, and legal tender specie laws are an attempt to clarify the situation.
>Do you know what that is?
Legal tender is the currency specified by law that either may, or must be accepted. Today it is almost universally fiat. Some States have passed laws making physical gold and silver VOLUNTARY legal tender that may be accepted on the discretion of the recipient.
The reason for making gold and silver legal tender is to change the status of the gold and silver from a commodity that can be taxed when it changes hands, to a legal form of money which is not subject to a "sales tax". There is also the issue of appreciation and captal gains where money by definition doesn't "appreciate". Prices of OTHER things can go up or down relative to hard money, but the money itself hasn't changed.
Demonitizing gold and silver has made the topic more complex, and legal tender specie laws are an attempt to clarify the situation.
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