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Taxes on Mexican Gold

SaorAlbaSaorAlba Posts: 7,536 ✭✭✭✭✭
in Precious Metals
Why are the Mexican gold coins taxed so heavily in Mexico? If you look at the mintages of current gold Onzas, they are really low. I have heard they tax the blood out of them, and a visit to the Mexico City Mint site and looking at their prices only verifies that. They are charging much higher prices than you pay for the coins in the USA.

Doesn't it appear counter intuitive to tax gold even on the initial sale?
In memory of my kitty Seryozha 14.2.1996 ~ 13.9.2016 and Shadow 3.4.2015 - 16.4.21

Comments

  • COINB0YCOINB0Y Posts: 4,505
    I suppose that's why not many folks here buy them!
  • jamakinjamakin Posts: 1,055
    IMO gold is heavily taxed in Mexico to keep the paper money system firmly in place.



  • CladiatorCladiator Posts: 18,038 ✭✭✭✭✭


    << <i>IMO gold is heavily taxed in Mexico to keep the paper money system firmly in place. >>

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  • SaorAlbaSaorAlba Posts: 7,536 ✭✭✭✭✭
    Mexican gold is cheaper on APMEX than in Mexico, even for the 50 Pesos coins. I was looking at buying Onzas and the 50 Pesos coins, but dang, I will have to buy them in the USA and not Mexico.
    In memory of my kitty Seryozha 14.2.1996 ~ 13.9.2016 and Shadow 3.4.2015 - 16.4.21
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