To make my opinion clear: this bill is a bad idea. Gold should not be treated differently from other investments. If you invest $1000 and sell for $1500, you should pay the same tax on that $500 gain whether it is gold coins, copper, stocks or land. The profit from buying and selling gold should not be tax free while every other capital gains is taxed. Toss HR 8279 into the trash can of bad legislative ideas.
Right now gold is treated worse than other investments. That disadvantage should be removed to set previous metals and other collectibles to be the same as any other investment. But it should not be given a legislative advantage.
Would I like lower taxes? Yes. But it should be done across the board rather then piecemeal in a way that invites future bribery to give a less favored category a new advantage.
“Right now gold is treated worse than other investments.”
I have cashed in many gold coins without paying any gains tax.
OTOH, any and all gains on my stocks are recorded on my 1099.