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116TH CONGRESS
1ST SESSION H. R. 1089
To amend the Internal Revenue Code of 1986 to clarify that gain or loss
on the sale or exchange of certain coins or bullion is exempt from recognition.
IN THE HOUSE OF REPRESENTATIVES
FEBRUARY 7, 2019
Mr. MOONEY of West Virginia introduced the following bill; which was
referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to clarify
that gain or loss on the sale or exchange of certain
coins or bullion is exempt from recognition.
Be it enacted by the Senate and House of Representa-
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tives of the United States of America in Congress assembled,
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SECTION 1. SHORT TITLE.
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This Act may be cited as the ‘‘Monetary Metals Tax
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Neutrality Act of 2019’’.
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SEC. 2. EXEMPTION FROM RECOGNITION OF GAIN OR LOSS
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FROM SALE OF CERTAIN COINS OR BULLION.
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(a) IN GENERAL.—Subchapter O of chapter 1 of the
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Internal Revenue Code of 1986 is amended by inserting
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after part IV the following new part:
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•HR 1089 IH
‘‘PART V—SALE OF CERTAIN COINS OR BULLION
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‘‘Sec. 1071. Sale of certain coins or bullion.
‘‘SEC. 1071. SALE OF CERTAIN COINS OR BULLION.
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‘‘No gain or loss shall be recognized on the sale or
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exchange of—
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‘‘(1) gold, silver, platinum, or palladium coins
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minted and issued by the Secretary at any time, or
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‘‘(2) refined gold or silver bullion, coins, bars,
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rounds, or ingots which are valued primarily based
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on their metal content and not their form.’’.
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(b) CLERICAL AMENDMENT.—The table of parts for
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subchapter O of chapter 1 of such Code is amended by
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inserting after the item relating to part IV the following
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new item:
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‘‘PART V. SALE OF CERTAIN COINS OR BULLION’’.
(c) EFFECTIVE DATE.—The amendments made by
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this section shall apply to sales or exchanges after Decem-
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ber 31, 2019.
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