In the United States is it legal to accept gold, silver, etc in exchange for goods or services?

Question

I'm just curious as the owner of a small business if I could accept this or no? Which ever it is could you link me to a website which explains the answer... Thanks

Answer 1

Its called barter and there is no law against it.

Answer 2

It is called barter, but be careful.  First of all, you may have no way of knowing whether those gold bricks are only gold plated.   Second, if there is a sales tax (or income tax) involved, the tax people want their cut of the sales or profits from the barter.

On the upside, gold and silver should appreciate nicely due to inflation.  I'd hang onto it if you can, it will hold value when our dollars are worthless.

By the way, gold and silver prices fluctuate, you can look up current prices here:

http://www.kitco.com

Answer 3

Yes.

Answer 4

Why wouldn't it be legal? You should be able to trade something for something in return. It's up to the person selling.

Answer 5

Perfectly legal to do so. It is called a barter.

Check out ICON, a barter company. Check it out at:

http://www.icon-intl.com/