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<p>[QUOTE="maksimfa, post: 514531, member: 17157"]As far as accounting question...</p><p>I am not a tax advisor, but a financial advisor, so these are just my own thoughts.</p><p> </p><p>If you are holding it as a cash equivalent or as cash, you count it as face value, ie you use it as a coin to pay for stuff.</p><p> </p><p>If you are holding it as an asset/collectible, for say your insurance purposes, you would count it at market value.</p><p> </p><p>But if it is a coin or not... yes its a coin. The difference between a silver bullion blank and a SAE is just that. The blank is not a legal tender of the USA, whereas if someone didnt know any better and found a SAE on the street, they would use it as a regular coin, since it says $1 on it, and go to the store and use it.</p><p> </p><p>When I worked at a grocery store, and then Staples as a cashier, if someone came in as a customer and paid with a $1 SAE, or a $50 GAE, or $100 Platinum coin.... it is a legal tender, that the government mandates can be used to pay and settle debts.</p><p> </p><p>Just like a roll of 90% silver halves, when you use them at a store or return them to the bank, you get face value. Meanwhile, based on collector market value, or melt value, it is worth a heck of a lot more than face value.[/QUOTE]</p><p><br /></p>
[QUOTE="maksimfa, post: 514531, member: 17157"]As far as accounting question... I am not a tax advisor, but a financial advisor, so these are just my own thoughts. If you are holding it as a cash equivalent or as cash, you count it as face value, ie you use it as a coin to pay for stuff. If you are holding it as an asset/collectible, for say your insurance purposes, you would count it at market value. But if it is a coin or not... yes its a coin. The difference between a silver bullion blank and a SAE is just that. The blank is not a legal tender of the USA, whereas if someone didnt know any better and found a SAE on the street, they would use it as a regular coin, since it says $1 on it, and go to the store and use it. When I worked at a grocery store, and then Staples as a cashier, if someone came in as a customer and paid with a $1 SAE, or a $50 GAE, or $100 Platinum coin.... it is a legal tender, that the government mandates can be used to pay and settle debts. Just like a roll of 90% silver halves, when you use them at a store or return them to the bank, you get face value. Meanwhile, based on collector market value, or melt value, it is worth a heck of a lot more than face value.[/QUOTE]
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