Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2018

Sales and Use Tax Annotations

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140.0000 BARTER, EXCHANGE, "TRADE-INS"—Regulation 1654

Annotation 140.0004

140.0004 Barter or Trade for Silver Coins. A gasoline retailer advertised the sale of gasoline for one silver U.S. dime. He also offered to sell gasoline for the posted prevailing price which is in excess of $1.00 a gallon without mentioning any particular form of payment. The silver dimes, although legal tender, are not being traded at minted face value but rather at their precious metal or numismatic value. Considering the difficulty of placing a daily value on a fluctuating commodity, it may be assumed that the value of a silver dime is equal to the amount of the posted price of the gasoline acquired in exchange for it. 2/14/80.