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Are Gold American Eagles Worth What Congress Has Said They Are Worth? Or: The IRS v. Robert Kahre

[Editor?s note: I am not a tax protester. Until researching the issue that is subject to this blog post, I thought all of the arguments raised by the tax protester crowd were frivolous.  On this issue, I am not so confident.] Take a look at this gold coin.   It's a Gold American Eagle.  Look at the image on the right.  Do you see what the coin says on the bottom half, underneath the nesting baby eagle? It says $50, right? Indeed, it is (as I will explain below) $50. It?s worth as much as an Ulysses S. Grant. Well, if you believe it?s really only worth $50, send all of your Gold Eagles to me. I will sell them on eBay for about $1,000 each. And now you can see the problem of Robert Kahre. Mr. Kahre is facing federal prison because he claimed that Gold Eagles are worth what Congress has said that Gold Eagles are worth...continue to full post

Full post as published by Crime & Federalism on June 17, 2009 (boomark / email).