Bullion MKTS, St. Louis, MO (2026)

08/13/2021

The Weimar Republic Hyperinflation and Precious Metals

The Weimar Republic was the German State between 1918 and 1933. One of the events that the Republic is best known for is the hyperinflation during the period that wrecked the economy and set in motion events that are commonly thought to have laid the groundwork for the rise of Hi**er and WW2. Bullion TP examines what the hyperinflation during the periods of 1921 and 1923 was, what its causes were, and how precious metals like gold and silver did over the time period.

The Weimar Republic was the regime that took over as WW1 ended and The People of Germany rebelled against Kaiser Wilhelm II. The new Republic had high hopes but it was plagued with the legacy problems of the past economic and financial blunders of the former government. Germany’s answer to finance WW2 was to suspend the gold standard and to then finance the war via borrowing. The German government believed and was betting that it would win the war and be able to repay the debt with reparations extracted from the losing parties. The opposite occurred and Germany found itself owing absurd amounts of reparations ($26.3 billion) to the Allied powers through the Treaty of Versailles.

The Weimar’s answer to paying the reparations was the purchasing of foreign currency with their printed paper marks as the Allies would not accept the rapidly devaluing German currency. This started in motion the hyperinflation that was witnessed by the devaluation of the German Mark value from 320 marks to the U.S. dollar in early 1922 to 7,400 German marks to the U.S. dollar by December 1922. This hyperinflation wreaked havoc on the average German citizen and made the cost of everyday items nearly impossible to afford. As the German mark was effectively worthless by late 1922 and the Weimar Republic was incapable of buying foreign currency, France and Belgium seized the Ruhr valley industrial area and were intent on taking their reparations in physical goods. The hyperinflation got so bad that a loaf of bread in 1923 cost 200,000,000,000 German marks compared to 160 marks at the end of 1922.

How did Gold and Silver fair during this time period? They maintained their purchasing power and it actually increased during the time period. An ounce of gold traded for 170 marks at the beginning in early 1919, but by November 1923 one ounce of gold sold for 87 trillion marks. Over the five-year period that included hyperinflation, the gold price increased 1.8x faster than the inflation rate. Silver went from 12 marks in 1919 to 544 billion marks by 1923. While profiting from gold and silver investing by the relative increase in purchasing power was very possible during the Weimar Republic, survival was of greater importance to the people living through it. Gold and silver wealth savings allowed those who held these precious metals to afford the rapidly rising cost of their everyday items as they simply held their value better as not susceptible to manipulation through creation out of thin air as fiat currency is.

As we approach our own potential hyperinflation time period, with inflation rising rapidly and an incompetent and deeply corrupted federal government passing a $1.2 trillion infrastructure bill and a $3.5 trillion budget incoming, it is no surprise that investors are increasingly turning to precious metals with a focus on physical possession. The dirty little secret that history continues to tell is that governments are typically the manifestations of Oligarchic greed, power, corruption, and incompetence as their money buys them and their bureaucrats out (at cheap prices). In short, governments do not care about their people unless The People control them and force them to do so. The People desperately need to regain control of the United States and throw off the chains of the Deep State Oligarchy and their corrupt monetary system but until the will to do that is sufficiently mustered, investing in gold and silver along with other precious metals acts as a hedge against the same reckless insanity of the incompetent, unethical, and immoral “elite” class that led to the Weimar Republic’s hyperinflation.

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08/09/2021

USA is the Largest Silver Investing Country in the World

Five countries, India, China, the USA, Germany, and Canada, from 2010 to 2019 purchased 2,004 million ounces of silver in coin or bar form for investment purposes. These were the top silver purchasing countries of the world and the United States represented almost half of the total amount purchased at 929 million ounces over the same time period. Following Americans in their silver purchases over the 2010 to 2019 time period were Indians with 615 million ounces, Germany with 265 million ounces, China with 139 million ounces and Canada at 56 million ounces.

There are a lot of historical, economic, and cultural curiosities in these numbers to consider. First, all of these countries represent large economic engines where their citizens have excess wealth which allows them to purchase precious metals like silver. There is a very clear reason why poorer countries are not on this list. China purchases a surprisingly small amount of silver compared to say India considering its enormous population and considering its historic affinity for silver, but this is likely due at least partially to their preference for gold. Indians have long used silver as a store of wealth and in jewelry so their purchase amounts are not surprising. Indian cultural and religious customs make gift giving a very important event, especially when it comes to weddings, and silver is a popular gift in India as it is considered to bring good luck.

No student of history should be particularly surprised that the Germans have an affinity for hard money through silver. The hyperinflation that Germany experienced during the Weimar Republic left a historic and cultural imprint in Germany that was not quickly forgotten. To those who may not be aware, many studies of the Weimar Republic’s hyperinflation and how precious metals performed indicate that those who had savings in precious metals were able to get ahead of the inflation as precious metals purchasing power increased more rapidly than the hyperinflation. The Germans no doubt buy silver to protect themselves from this ever occurring again and as many of them, much like Americans, remember a time when their coinage and monetary system was based on precious metals and not the fiat that the Deutsche Mark was and now the Euro is. While Canada’s purchases are relatively small, recall that Canada’s population is slightly less than California’s at 38 million compared to the United State’s 330+ million (or who knows since we effectively have open borders now). The Royal Canadian Mint produced almost 26 million ounces of silver coins in 2019 but only 5 million ounces were purchased by Canadians.

It should surprise no knowledgeable American Patriot that the USA is the world’s largest silver purchaser. In 2019 alone American Patriots purchased 48.2 million ounces of silver. The United States was founded on principles of Liberty and Freedom and despite the concerted attempts of elites to circumvent and remove these rights, no time more stark than the present, Americans hold firm to these principles and will continue to fight for them. Free, hard money that precious metals represent were enshrined in parts of our Constitution and were intentionally and thoughtfully utilized by the Treasury in minting money until nefarious and criminal forces by way of the central banks sought to undermine this and insert their fiat currency into the monetary system. The large demand for silver as a store of wealth indicates that no matter what the corrupt, unethical, immoral, and criminal Federal Reserve Bank and all its tentacles have thrown at silver (and gold) money over the decades and centuries to discredit and delegitimize their importance, the People of the United States still intrinsically hold on to the knowledge of what real money is and they make their preferences known by trading worthless fiat for silver (and gold) in the largest proportions in the world.

Source: Silver Institute’s 2020 Silver Survey

08/02/2021

The History of Engelhard Silver Bars & Rounds

Engelhard silver bars are a rarity in the silver marketplace these days and many silver investors may wonder what the story is behind this mint and its highly sought after bars and rounds. Engelhard Corporation was an American Fortune 500 company headquartered in Iselin, New Jersey. The company performed mineral, chemical, and pigment manufacturing but Engelhard was most famous for creating the first catalytic converters sold to Ford Motor Company in 1973, not surprisingly an invention that utilized precious metals.

Engelhard Corp. was founded by Charles W. Engelhard Sr. in 1902 when he purchased the Charles F. Croselmire Company in Newark, New Jersey. Charles then founded the American Platinum Works in 1903 and it acquired several other companies. In 1904, Charles purchased Baker & Co., a platinum smelting and refining business located in Newark and in 1905, he established Hanovia Chemical and Manufacturing Company also in Newark. Engelhard became the world's largest refiner and fabricator of platinum metals, gold and silver, a producer of silver and silver alloys in mill forms, and the operator of the world's largest precious metals smelter. The company was also the inventor of a liquid gold for decorations.

The Engelhard Mint, a subsidiary of Engelhard Industries, had over 100-years of experience in manufacturing precious metals by the time it was closed and had grown to become a respected precious metals mint by the late 1950’s. It’s top competitor was Johnson Matthey. One of the reasons for the popularity of Engelhard’s bullion products is that they had precise stamping which acted as an anti-fraud measure that assured the weight, purity, and authenticity of their products. Engelhard silver bars have on their obverse the Engelhard name, mintmark inscription, weight, and purity mark. The most common weight options are 1 ounce, 10 ounce and 100 ounce bars. Certain hand-poured silver bars by Engelhard are very rare and are therefore sold for much higher premiums.

Engelhard’s most famous silver bullion product is their Engelhard Prospector Round, composed of 1 oz. of fine silver. The Prospector round depicts the image of a miner who is panning for gold in a river on its obverse side and an eagle along with the “E” on its reverse side. Due to the fact that Engelhard stopped producing its bullion products even before the BASF takeover, their bullion became more difficult to attain, and the demand for it is constantly increasing as more retailers are running out of their Engelhard bullion stocks. This is why their prices are notably higher than those established for other items of similar weights. The company was purchased in 2006 by the German chemical company BASF.

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07/30/2021

Inflation Steals from The People, the Future, and the Solution

Inflation’s technical definition, suspect these days given the corrupt and incompetent elites penchant for changing definitions in a 1984-like imitation, is a persistent increase in the level of consumer prices or a persistent decline in the purchasing power of money. Inflation has also been described as too much “money” chasing too few goods. When the money supply is inflated, as it is when excessive amounts of fiat currency is released into the system by the corrupt, unethical, and immoral criminal cabal that is the Federal Reserve, the value of the existing currency effectively declines. This means the wealth of the People is stolen as new currency creation means there is more of something and in the laws of supply and demand, the value of anything falls when the supply is increased if demand remains constant. The effects of inflation on everyday people becomes rather disastrous as was seen in the Weimar Republic, Zimbabwe, and Argentina, among many many others. Inflation hurts the elites, who control institutions like the Federal Reserve - especially the super elite Oligarchs - the least as while their purchasing power is diluted as well, they have so much that they rarely feel it. They are also sophisticated enough to plan around buying the assets of those who are hurt by inflation on the cheap when the opportunity presents itself, something they have been doing for hundreds of years, which makes up for any losses from the currency creation.

Inflation causes the prices of everyday goods to rise as well as asset prices (for a while). Manufacturers of goods and services try to reduce package sizes and service quality for as long as they can until they are inevitably unable to do so and remain in business. Raising prices means there is less demand which hurts businesses. Businesses being hurt means less jobs. Wages rarely rise fast enough to make up for inflation, especially if the inflation becomes hyperinflation which is very hard to stop once it starts. Inflation, if complete control is lost, becomes a vicious cycle hurting nearly everyone in the end - except for the ultra elites who while hurt, position themselves well for the rebuilding. As mentioned above, asset prices rise first. So you can expect to potentially see real estate and all other assets rise until inflation hurts the ability of people to pay the prices for the assets and the job losses effectively decimates the economy. One place where inflation is arguably good for a consumer is in debt repayment. That is if a consumer has any excess cash after paying $10 a gallon for milk or $100 to afford the debt repayment. If they do not, they lose their assets or see other repercussions from an inability to pay existing debts.

As many are aware, the CPI, which is the consumer price index, has been manipulated heavily to hide inflation that has definitely exceeded 2% for quite some time now. Not only does the government have a vested interest in not giving raises to social security income recipients and other fixed income schemes tied to the CPI like pensions that are tied to cost of living increases more money, but it does not want the People to know about the inflation as they will get upset and they replace their bureaucratic government overlords. Since the Federal Reserve's mandate is to suppress and control inflation, something it has failed to do entirely since its founding, the People in the majority being aware of this failure poses a risk to the Federal Reserve’s already questionable existence and mandate. A great debate raged after the massive amounts of money that were created to bail out the reckless, incompetent, and corrupt after the 2008/2009 Financial Crisis (“The Great Recession”). The winners of that debate knew that most of that “money” was going into the hands of the few and so therefore was not going to result in material inflation.

We now find ourselves in the opposite situation. Not only has massive amounts of money been distributed directly to the People via stimulus, unemployment benefits, and early attempts at Universal Basic Income, but massive loans were given to businesses of all sizes as a result of the Covid 19 - ahem - “Pandemic”. This money is currently in the hands of people of all walks of life and is driving up the price of everyday items. The Federal Reserve, having already enticed corrupt politicians to borrow like mad, is effectively trapped in its interest rate policy as raising rates will tank the economy and make the debts of many people, companies, institutions, and local, state and federal governments completely impossible to meet the payments on. With Congress plotting a new “Infrastructure” bill that is likely all political payoffs if not outright graft, inflation will be supercharged once this money is released.

This is not the first time humanity has faced this insanity brought about by the nihilism, recklessness, idiocy, and incompetence of the elites and there is a time-tested solution to end it: backing the currency with a physical commodity that is limited in production and that grows at a fixed rate as it is extracted from the ground. This limits the ability of reckless fools masquerading as respected leaders to lead the People and their economy down the path of destruction. This limits the ability of central banks and their tentacles to corrupt the morals, ethics, sensibilities, and memory of the People. This is a fair system that allows the People to keep their wealth and use it as they see fit without the stealthy theft that their system manifests itself as.

Inflation is likely to get worse before it gets better and you can rest assured that the terrible people allowed to be our “leaders” will lie to us about it till the very end (their end). Unfortunately, the People have forgotten the struggles of their ancestors, their history, and the lesson that the elites are not to be trusted with so much power and “money.” The suffering will usher in a new knowledge and a demand to fix this system and make it more just for the People. At the moment, a large minority mock the Patriots and their knowledge and desire for change. The suffering will bring about a change in attitudes and a unity unlike the United States of America has seen since World War II. It will happen all over the world. When the People have had enough, they will demand change in the way their monetary system operates and the tried and true method of backing the currency with gold and silver will be implemented. Those who had the foresight to plan for this change by acquiring precious metals will benefit greatly from this new future, but so will society and numerous future generations to come.

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07/29/2021

Hoxne Hoard: Roman Gold and Silver Found in Britain

Wouldn’t it be great if searching for a lost hammer led to a massive find of gold and silver coins from the Roman era? That is exactly what happened in 1992 to Suffolk county tenant farmer Peter Whatling who, after having lost a hammer, asked his friend Eric Lawes, a retired gardener and amateur metal detectorist, to help him look for it. The duo did not find the hammer but quickly found silver spoons, gold jewelry, and numerous gold and silver coins before contacting both the landowner and the police (talk about honesty!). The next day a team of archaeologists arrived at the site to do a rushed excavation. The area was searched with metal detectors within a radius of 30 metres (98 ft) from the initial discovery. Peter’s hammer was found during the search along with the Hoxne hoard and is now on display as a historic item.

The Hoxne hoard was concentrated within a small region around where a decaying chest had been found. Items had been grouped together in a deliberate fashion to organize them. The British Museum claimed all of the items and categorized them there. They found, in total, 569 gold coins, 14,272 silver coins, comprising 60 miliarenses and 14,212 siliquae, 29 items of jewelry in gold, 98 silver spoons and ladles, and a variety of bronze and silver items of various size and note. The hoard was valued at £3.59 million or around $5 million based on 2019 prices of precious metals. The UK has a law that allows for the finders of treasure to be compensated with its value when purchased by public museums so Lawes split the reward with Whatling.

The hoard’s coins were minted across the Roman empire, spreading from Antioch in modern Turkey across Europe to Hoxne itself and were minted under three Roman dynasties of Emperors including the Constantinian, the Valentinianic, and finally the Theodosian emperors. The hoard is thought to have been deposited starting around 408 AD and was aggregated and buried during a period of great turmoil in Britain that included the collapse of Roman authority in the province, the departure of the majority of the Roman army, and the first of a wave of attacks by the Anglo-Saxons in the region.

Analysis: First, the Hoxne Hoard demonstrated the widespread importance of the bimetallic monetary system that existed during the Roman Empire that allowed the empire to flourish for so many centuries as well as the overarching point that gold and silver have been heavily valued, aggregated, and stored for wealth preservation for millennium now. The Roman Empire was the result of the conquering and aggregation of several different cultures and countries into one unified system that all utilized precious metals in trade

It is not surprising that the hoard exists and was buried given the chaos that was erupting in England at the time with the Roman abandoning the island and new conquerors starting to make their presence known. Much as we see in our own times, chaotic and uncertain time periods cause people to flock even more to things of intrinsic value, such as gold and silver, to help them get through the hard times as their acceptance as a store of wealth is nearly Universal, despite the absurd claims of central bank, globalist, paid-off “economists” who do the bidding of Oligarchs by lying to the People in exchange for paltry sums.

As the U.S. dollar continues to experience rapid inflation and destruction of purchasing power combined with a dysfunctional, unethical, and incompetent political and business establishment (“elites''), more and more people will switch to historic forms of money that are more naturally protected from inflation and damage from these absolute idiots in charge. In short, modern versions of Hoxne Hoards will be aggregated and secured across the USA and the world as people seek historically proven ways to maintain their wealth.

Bullion TP recommends not hiding your own version of your hoard in a field to be discovered over 15 centuries later. Maybe just leave it to the kids or something.

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07/28/2021

The Canadian Maple Coin: Silver, Gold, and Platinum

The Canadian Maple coin is minted by the Royal Canadian Mint in .999 in silver, gold, and platinum versions, with .9999 fineness and 99.9%, respectively, under the authority of the Canadian Government. The gold version of the Canadian Maple was first produced in 1979 and the silver and platinum versions were first produced in 1988. The silver, gold, and platinum versions of the Canadian Maple all share a similar default design of the profile of Queen Elizabeth II on the obverse and the Canadian Maple Leaf on the reverse display. There are numerous alternative designs and special editions, primarily with the silver version of the coin, that replace the Canadian Maple Leaf on the reverse design with alternative options such as the White-tailed deer, Grizzly Bear, or Bison, among others. There were bimetallic Canadian Maples produced in 2004 as well.

When the gold version was first released in 1979 it was only .999 pure gold until it was changed in 1984 to the .9999 purity standard. The one ounce versions of the Canadian Maple coins all have legal tender status of 5 Canadian dollars, 50 Canadian dollars, and 50 Canadian dollars for silver, gold, and platinum, respectively. When the Canadian Maple was released in 1979 its largest competitor was the Krugerrand which was actively boycotted in response to apartheid.

While the silver edition of the Canadian Maple has the largest number of alternative designs, the gold version has very unique versions, including a hologram version and the One Million Dollar version. The gold hologram version was first produced in 1999 and was also produced in 2001 and 2009. The One Million Dollar Gold Canadian Maple or Big Maple Leaf weighs 100 kilograms (220 pounds) and six were issued in 2007. One of the Big Maple Leafs was stolen from the Bode Museum in Berlin, Germany and four Lebanese teenagers were eventually apprehended for the theft but the coin was never recovered and it is assumed to be melted down for resale. The Canadian Maple Leaf coin is considered one of the most sought after and well respected government minted coins in the world and is collected by silver, gold, and platinum investors annually for its high level of quality and purity.

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07/27/2021

345 KG of Silver: The Silver Urns of the Palace of Jaipur

In the city of Jaipur, the capital of the Indian State of Rajasthan, lies the City Palace and its three enormous silver urns or jars. The silver jars were created over a two year period between 1894 and 1896 by two Jaipur silversmiths as one solid object using 14,000 silver coins. The pair of silver water jars do not have sections soldered together, but are one solid object made of sterling silver. The two jars weigh 345 kg (760.6 pounds, 11,092.01 ounces) each and stand at 1.6 metres (five feet and three inches) with a circumference of nearly 15 feet. The jars come with an interesting story weaving in geopolitics and local religious and cultural tradition. There were also once three jars, not two, until one was thrown into the ocean to appease the Indian God Varuna.

In 1901 Queen Victoria, of which the Victorian era is named and during which silversmithing of sterling silver items was all the rave, died and her son, King Edward VII was set to take over the British Empire. For his coronation he invited the most important Indian Maharajas, leaders of the largest and most powerful Indian States. Included on the list of Maharaja invitees was Madho Singh of Jaipur. A problem existed for the maharaja as orthodox Hindus were not allowed to cross the ocean to reach Europe. The maharaja, who was the head of the Hindu community in Jaipur, was told by his priests that he cannot be exempted from this religious belief and practice. At that time the British Empire ruled India so refusing to come to the new King’s coronation would have put a target on the maharaja’s back.

The maharaja called a group of senior religious advisors together who found an acceptable religious solution. The king could travel to England so long as he traveled in a ship in which no beef has ever been cooked or served, he took the figures of his family deity with him, he spread earth from Jaipur’s soil below the God’s throne and his bed everyday to replicate being on Indian soil, he ate only the prasad (religious offering) that was offered to his family deity during the prayer sessions, and that he drink nothing but Gangajal, the water from the Ganges River, during his three months away from India. The ship Olympia had just been completed and was acquired by the Maharaja, fulfilling the beef requirement which was a tall order for a European ship. The silver jars that had been previously constructed that sat in the Jaipur treasury were perfect for carrying the Gangajal as they each held 900 gallons of Gangajal water each, or 2,700 gallons of water total - estimated to be enough to sustain the maharaja during his journey.

The priests blessed the maharaja’s ship before it left Jaipur, loaded his baggage including the silver urns, and dropped valuables including pearls, diamonds and gold coins to appease Varuna, God of the Seas. The blessing did not work. A few days after leaving the shores of Bombay while the ship was traveling on the Red Sea it encountered heavy storms and the agitated Brahmin priests advised the maharaja to dump one of the three huge silver jars into the sea to calm Varuna down. This was done. The rest of the trip went smoothly, the new King came personally to visit the jars at the maharaja’s camp, and they returned safely to the Palace where they sit today and can be viewed. All but the third one of course, that lies at the bottom of the Red Sea.

Analysis: The importance of silver both culturally and religiously in one State within India is demonstrated in this story as well as the cultural connection between Indian and the British Empire being their shared value of silver as demonstrated by King Edward’s visit to see the silver urns. Knowing the Victorian era’s love for silver, bringing the silver jars was likely not only a way to adhere to religious requirements but also acted as a symbol of wealth and power to impress King Edward with both the wealth and craftsmanship of the Indian people. Silver and Gold remain very important in Indian culture and society which is why Indian purchases of the metals are watched closely by precious metals analysts.

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07/26/2021

Taxes on Precious Metals and Legal Tender Status as the Solution

Many may not be aware that precious metals from a federal viewpoint are considered a capital asset by the IRS and most States view them as this as well. Why this matters is that it means when one goes to sell their precious metals they may be subject to taxes as high as 28% at the federal level and additional taxes at the State level. Don’t be surprised if those living in more anti-Constitutional areas see even local taxes accessed, as these anti-Patriot forces are becoming bolder and more hateful and punitive towards anyone who disagrees with them (the majority).

As we have explored in prior writings, the Federal Reserve Bank and its partner corrupt organizations, far too many to list in this writing, benefit heavily from the fiat money system and the power and control that it enables them and their friends to exert on nearly all aspects of society. Gold and silver, much like cryptocurrencies and other alternative assets, act as competition for demand for the USD and other fiat currencies, and ones where the central banks, the government, and their friends have less control over these alternative currencies and therefore despise them. Additional issues at the State level include sales taxes being applied to precious metals, something certain States that are more anti-tax and pro-Constitutional money are slowly moving against. One of the solutions around this taxation issue is for governments to recognize gold and silver as legal tender and to treat it no differently than it currently treats its fiat garbage currency they effectively force us to use. It is important to note that this would simply be a return to the status of gold and silver from the past and in fact the status quo in most of the Western world going back to the Ancient Greeks.

Legal tender is a legal concept of money that by contract or law must be accepted by parties in the settling of debts and the exchange of goods. The delineation between contract or law is important as some States that have made movements towards pro-precious metals laws have first made the step of protecting gold and silver contracts with the hope that full legal tender status is to be later conveyed. If gold and silver are officially considered legal tender, not only in contracts but by default, then they can be legally enforceable in transactions and avoid taxation when sold or exchanged for a different currency or when utilized to purchase goods or services. While the coins produced by the U.S. Mint are considered legal tender, they are issued as legal tender values far lower than the actual market value of precious metals and therefore there is no incentive to utilize them as legal tender at those values. While there has been a movement growing to reduce or eliminate sales taxes on precious metals, allow contract law for precious metals, and establish limited legal tender status for precious metals with arguably stringent requirements in certain States, the complete and total status of legal tender for precious metals has yet to be returned to.

At the State level, Utah, Texas, and Louisiana have all been heading in the right direction with pro-precious metals laws passed and West Virginia, Wyoming, Arizona, Kansas, Oklahoma, Indiana, Missouri, Louisiana, Tennessee, and South Carolina all either passed less aggressive pro-precious metals laws or have or are attempting to do so. There are a lot of nuances to each State’s laws or attempted laws and Bullion TP recommends each citizen research the laws in their respective States. At the Federal level, in March 2021 Representative Alex Mooney (R-WV) introduced the Monetary Metals Tax Neutrality Act (H.R. 2284) to remove capital gains, losses, or any other type of federal income calculation on gold and silver bars and coins. This legislation would effectively recognize gold and silver as legal tender. This proposed legislation has of course gone nowhere with the current political party and RINOS on the other side entrenched in power who are basically all bought and paid for puppets for the Federal Bank and Oligarchs.

Analysis: Precious metals investors, including the fast growing Silver Patriots and/or Silver Apes, must demand a return to treating precious metals as legal tender at both the Federal and State levels for both their own self interest and in the interest of monetary truth and fairness. First, the treatment of the truest and oldest form of money should not be discriminated against on a taxation basis in comparison to junk fiat currency. Patriots should not be forced to pay a tax to exchange their real money for fiat or any legitimate hard asset or service they purchase from another company or individual. There should be an equality of currencies at best, although the complete abolishment of fiat should be the longer term goal.

In addition, these taxes act as a disincentive to both invest in and then later sell precious metals or use it as money as nearly all transactions in most areas could be considered taxable events. Sales taxes on precious metals are a particularly heinous abomination considering their historical usage as money in nearly every advanced society in the world. Sales taxes on precious metals are effectively an exchange rate tax to discourage movement into them from fiat currencies. Much like most of the other evolving issues of the day, it is up to us precious metals investors to demand equal treatment under the law for our chosen Constitutional store of wealth, gold, silver and other precious metals. The corrupt powers-that-be are certainly not going to do it for us.

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