Monthly Archives: December 2009
2010 High Relief Silver Angel Coin Commemorates 15th Anniversary
Gold Falls Slightly Despite Inflation Data, Silver and Platinum Advance
US Mint Numismatic Gold Coin Prices Set for Decline
Heritage January NYINC World Coins Auction Feature International Coin Rarities
2009 Native American Dollar Direct Ship Rolls Available Again
Heritage Auctions Debuts Mobile Page for iPhone, Blackberry
Michael Hall Collection of Renaissance Medals Set for Auction
Gold, Silver, Metal Prices: Commentary – 12/14/2009
Ron Paul Bill Seeks Coin and Bullion Tax Ban
Congressman Ron Paul [R-TX] on Wednesday introduced legislation that would, if signed into law, end taxes on coins and bullion and repeal legal tender laws. The bill's lofty goal is to reintroduce a system of competing currencies.
"At this country's founding, there was no government controlled national currency. While the Constitution established the Congressional power of minting coins, it was not until 1792 that the US Mint was formally established," Rep. Ron Paul said.
"In the meantime, Americans made do with foreign silver and gold coins. Even after the Mint's operations got underway, foreign coins continued to circulate within the United States, and did so for several decades.
H.R. 4248, or the Free Competition in Currency Act of 2009, includes several measures to end government controlled currency. One is to repeal Section 5103 of Title 31 of the United States Code which includes legal tender language that, according to Ron Paul, should not exist.