>> It seems to me that the 1974 legislation removed the ban on individual >> ownership of gold, period. The 1997 legislation allows for gold coins and >> bars of 99.5 per cent gold to be included in IRA's rendering them >> non-taxable while held in those accounts. > >I don't doubt what you're saying, but if this is true, then American Eagles >would not qualify in such IRAs. In fact, most gold coins are around 90% >gold, because 100% gold scratches too easily. I know that the Canadian Maple >Leaf is 99.9% gold, and it scratches extremely easily. Off hand, I don't >know of any other regular-issue gold bullion coins which are close to 99% >gold, other than the Maple Leaf. > >Craig Craig! the answer is the Aussie ones - the Kangaroo and the "lunar" issue. (Australia issues TWO bullion coins: the "Kangaroo" which obviously has a Kangaroo on it, and the "lunar" coins -- ie, each year is different with the Chinese lunar calendar .. year of the Dragon, year of the Snake, etc. That is a very clever marketing idea to appeal to Chinese folks who love buying bullion. I myself just bought, yesterday, a one ounce Aussie bullion coin, in fact a lunar "year of the snake" one, as a souvenir for my firstborn who will be born in the year of the snake. Both coins come in the usual size selection, 1/10th ounce, ounce, 2 ounces - and I think a huge kilo one, also.) So yes, both of the Aussie bullion coins are marked 9999 and are pure gold. And yes, they scratch and ding extremely easily! Interesting trivia: Australia recently introduced a federal GST sales tax (sort of like VAT). About the only thing exempt from GST is "raw" items. Thus: interestingly, a butcher's in Australia, raw meat - eg steaks, etc - is GST free, but, thinkgs like say sausages which are "manufactured" from a collection of items, include the annoying 10% GST. Thus -- when in Australia -- if you buy a Krugerrand (95% gold, 5% copper - 22 carat), you DO PAY GST. Whereas if you buy a Kangaroo (pure gold) -- no GST! What's the canadian maple leaf made from? ----------------------------------------------------------- "Great ventures create great mottos." --- You are currently subscribed to e-gold-list as: archive@jab.org To unsubscribe send a blank email to [EMAIL PROTECTED]
