Privacy Policy

As provided in the applicable member agreement of the United Precious Metals Association (“UPMA”), each member agrees to accept the terms and conditions of this privacy policy...

Monetary Intent

One important factor in determining the tax treatment of a particular transaction appears to be taxpayer intent. In Thorne and Wilson, Inc. v. Utah State Tax Commission, 681 P.2nd 1237 (1984), the Utah Supreme Court...

Member Agreement

Subject to common definitions and provisions and in consideration of the mutual covenants and warranties contained herein, the person (Account Holder) executing this agreement, and United Precious Metals Association (“UPMA™”), a Limited Cooperative Association operating on a non-profit basis for the benefit of its members, hereby agree as follows...

UPMA™ Bylaws

Bylaws of the United Precious Metals Association, LCA

Article I. Purpose

The United Precious Metals Association (UPMA), a Limited Cooperative Association, operating exclusively on a non-profit basis for educational, benevolent, and reformatory purposes...

Frivolous Tax Positions

Item 13 of Internal Revenue Bulletin 2010-17 identifies the following as a "frivolous" tax position:

(13) In a transaction using gold and silver coins, the value of the coins is excluded from income...

State Legal Tender Laws

The United States Constitution provides that "No State shall ... make anything but gold and silver coin a tender in payment in debts." At present four states have laws expressly recognizing gold and silver coin as legal tender...

Mintage Moratorium

Ever since the Coinage Act of 1965, by which President Johnson dispensed with the Constitutional silver dollar standard that had served the country’s economy for 173 years...

Different Dollar Standards

Notwithstanding the growing disparity in the purchasing power of the various kinds of dollars in circulation today, federal law continues to draw no legal distinction between specie and paper dollars...

Gold Clause Contracts

While the general government has expressly withdrawn its consent to obligations requiring tender of a particular type of dollar (31 U.S.C. § 5118(b)), since October 27, 1977...

Equal Purchasing Power

The Secretary of the Treasury is “to maintain the equal purchasing power of each kind of United States currency.” 31 U.S.C. 5119(a). Significantly, this statutory mandate invokes the market test of “purchasing power”, not merely parity of nominal face value...

UPMA™ Visa Debit Card

True Link Financial, a card issuer, provides a wide variety of attractive features, including: spending limits; known fraud list and specified merchant blocking; online transaction monitoring; and monthly statements...

Gold and Silver Rates

All UPMA™ accounts are denominated in gold and/or silver dollars. A gold dollar is one fiftieth of a one-ounce fifty dollar U.S gold coin. A silver dollar is a one-ounce U.S silver eagle coin...