Laws, Regulations & Annotations

Business Taxes Law Guide – Revision 2013
 

Sales and Use Tax Annotations


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C

168.0000 COINS AND BULLION—Regulation 1599

Annotation 168.0099

(a) COINS

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.