Thursday, March 19, 2009

Pay With Silver

The US Mint creates coins of silver, gold, and other metals that have face value. Some coins, such as the State quarters, are fun and inexpensive collectibles for children. Other coins, such as proof platinum eagles, are expensive numismatic collectibles.

A Nevada businessman was paying his contractors with silver eagles, and declaring the face value (one dollar) of the coin. The IRS raided his place of business, filed charges, went to trial, and the IRS had no convictions.

Kahre tax trial in Nevada for paying employers with silver eagles:
http://afgen.com/silver_gold_irs.html
http://www.lvrj.com/news/9893062.html
http://www.wethepeoplefoundation.org/UPDATE/Update2007-09-30.htm
http://www.liberty-watch.com/volume03/issue08/coverstory.php

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