Lawful money per US Code

[David Merrill]

I thought the 300 million was backed by gold certificates, not coin. Am I mistaken?

Since at Title 31 USC §5115 it is specified that US notes cannot be used for a reserve currency I am supposing that there must be some actual gold or gold coin, whether or not they sell gold certificates on that fact.

You think on the 1040 the first $3K deductible is in lawful money?

That is probably the coin deductible found in this article. I produced this video including the 1984 premise that was at $1000.

If an investigation of bank records discloses an excess of $1000 in deposits in a single year, the IRS may accept this as prima facie evidence that the account holder uses private credit and is therefore a person obligated to make a return of income. Anyone who uses private credit -- e.g., bank accounts, credit cards, mortgages, etc. -- voluntarily plugs himself into the system and obligates himself to file. A taxpayer is allowed to claim a $1000 personal deduction when filing his return. The average taxpayer in the course of a year uses United States coins in vending machines, parking meters, small change, etc., and this public money must be deducted when computing the charge for using private credit.