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Georgia Bill Aims to Remove Capital Gains Tax on Gold and Silver

Georgia's House Bill 895, introduced in January 2024, aims to eliminate state capital gains taxes on the sale or exchange of gold and silver bullion and coins. This would encourage the use of gold and silver in transactions, treating them as money rather than commodities. By removing the tax burden, the bill seeks to reduce barriers to using precious metals in everyday life and challenge the Federal Reserve's monopoly on money. The bill aligns with efforts in other states to promote sound money principles and reduce government control over currency.