The sections that follow outline the historic, judicial and statutory basis for U.S. citizens to exercise informed choice in currency. Nevertheless, because of the tax implications of incorporating specie legal tender into one’s financial life, certain precautions are advisable. The following information is provided as an initial resource for UPMA™ members to review, together with their tax advisors and legal counsel, when considering the appropriate use of specie legal tender.
This information is intended for general educational purposes only and should not be construed as legal or tax advice relating to the particular circumstances of any person or entity. Further, the dissemination of the following information is not to be construed as having created any attorney/client relationship. Interested persons are encouraged to seek independent, professional advice from qualified professionals.