Laws, Regulations & Annotations
Business Taxes Law Guide – Revision 2014
Sales and Use Tax Annotations
168.0000 COINS AND BULLION—Regulation 1599
168.0099 Mexican Libertad. The Mexican Libertad is described as an annually dated, nonrestrike, one ounce, legal tender, silver coin. It is .999+ pure silver but does not have a face amount. The Mexican government has declared the Libertad to be legal tender. Legal tender is considered to have the meaning of "medium of exchange" for purposes of section 6355. Therefore, the Mexican Libertad is a monetized bullion as defined under Regulation 1599. 1/16/85.