Seems the IRS link above is to a bulletin. I don't know if this is a court ruling, or just part of an IRS manual that might get tested in court.
"Is it $50 if I give you an American eagle ... but $1740 if I give you a gold bar or round? It's a pretty lame tax avoidance argument..."
Congress made the law that says for a $50 American Gold Eagle, it is $50. A lot of things Congress does are lame, it is still the law until the law is changed.
From usmint.gov website, the law authorizing American Eagles: http://www.usmint.gov/pressroom/legislation/Public_Law_99-18...
usmint.gov info on the law that allows making of the one cent coin: http://www.usmint.gov/mint_programs/circulatingCoins/?action...
Beyond "because they can", how does an agency successfully ignore a law that sets a weight and measure?
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