Signed as Law: Tennessee Takes Step Toward Treating Gold and Silver as Money
The new law exempts certain coins, currency and bullion from the state sales tax. To qualify for the exemption, it must be manufactured in whole or in part from gold, silver, platinum, palladium, or other material; used solely as legal tender, security, or commodity in Tennessee or another state, the United States, or a foreign nation; and be sold based primarily on its intrinsic value as a precious material or collectible item rather than its representative value as a medium of exchange.
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