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Washington State proposed bill to make gold and silver legal tender
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<p>[QUOTE="fatima, post: 1425040, member: 22143"]I think most of your specific questions were answered in webomatic's great post. <a href="http://www.cointalk.com/t199751-21/#post1424802" class="internalLink ProxyLink" data-proxy-href="http://www.cointalk.com/t199751-21/#post1424802">See Here</a> </p><p><br /></p><p>As for what the state will do with the gold coinage, it will be large enough where it won't have to deal with local dealers. I can see where, if they decide to liquidate some of their holdings, they could deal directly with the bullion exchanges and/or banks. Given the short selling of gold & silver contracts, I don't think they would have any issues at all with the state finding willing buyers. </p><p><br /></p><p>The biggest advantage that I see immediately when the law passes is that you can use your gold to pay an obligation and not be subject to capital gain's tax. It's a huge advantage to someone who has held PM for a long time. Of course it doesn't do anything for someone who doesn't own PM now but then, this is why most of us here buy bullion. i.e. By the time the public and the naysayers figure the value of PM vs fiat, the train will have already left the station.[/QUOTE]</p><p><br /></p>
[QUOTE="fatima, post: 1425040, member: 22143"]I think most of your specific questions were answered in webomatic's great post. [URL="http://www.cointalk.com/t199751-21/#post1424802"]See Here[/URL] As for what the state will do with the gold coinage, it will be large enough where it won't have to deal with local dealers. I can see where, if they decide to liquidate some of their holdings, they could deal directly with the bullion exchanges and/or banks. Given the short selling of gold & silver contracts, I don't think they would have any issues at all with the state finding willing buyers. The biggest advantage that I see immediately when the law passes is that you can use your gold to pay an obligation and not be subject to capital gain's tax. It's a huge advantage to someone who has held PM for a long time. Of course it doesn't do anything for someone who doesn't own PM now but then, this is why most of us here buy bullion. i.e. By the time the public and the naysayers figure the value of PM vs fiat, the train will have already left the station.[/QUOTE]
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Washington State proposed bill to make gold and silver legal tender
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