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Gold Bullion Coin Act of 1985
From Wikipedia, the free encyclopedia
The Gold Bullion Coin Act of 1985, Pub. L. No. 99-185, 99 Stat. 1177 (Dec. 17, 1985), codified at 31 U.S.C. § 5112(a)(7) through (a)(10), 31 U.S.C. § 5112(i), 31 U.S.C. § 5116(a)(3), and amending 31 U.S.C. § 5118(d) and 31 U.S.C. § 5132(a)(1), has helped the American Eagle Gold Bullion Coins to quickly become one of the world's leaders in gold bullion coin. Produced from gold mined in the United States, American Eagles are imprinted with their gold content and legal tender "face" value.
The act was signed by Ronald Reagan in 1985. One requirement is that all gold used in minting the coins would be from "newly mined domestic sources".
Many people are unaware of the benefits of this measure. To a select few, reducing their tax liability[citation needed] and aiding in the reduction of the National Debt[citation needed] are realized.
For the complete text of the act, see "Gold Bullion Coin Act of 1985" at the Wikisource site.
