(Just The News)—A new Chicago budget is set to take effect, even though the city’s mayor refused to sign it.
Flanked by Chicago Teachers Union President Stacy Davis Gates and several aldermanic allies, Mayor Brandon Johnson said Tuesday he would not sign or veto the budget passed by the city council last Saturday, but he would let it take effect to avoid risk or speculation of a government shutdown.
The $16.7 billion spending plan includes higher taxes on cloud computing, liquor and plastic bags, along with rideshare surcharges and a roughly $1 billion sweep of tax-increment financing funds to Chicago Public Schools.
The “alternative” budget passed by aldermen did not include a corporate head tax proposed by the mayor. The measure would have imposed a $33 per-employee monthly tax on businesses with more than 500 workers.
“Despite the fact that there was one particular element that the people of Chicago overwhelmingly supported that we were not able to hold onto in this budget, aren’t you glad that we have many more budgets to pass?” Johnson said.
Even without the mayor’s head tax on employers, Michael K. Harris Jr. of the Illinois Retail Merchants Association said businesses are again being asked to shoulder a disproportionate share of the city’s financial burden.
“It is long past time for the city to acknowledge the cycle of continually increasing taxes and spending is unsustainable and risks undermining Chicago’s long-term viability,” Harris said before the city council last Friday.
Johnson issued executive orders prohibiting the sale of city-administered medical debt owed by individuals to private entities and banning the Chicago Police Department from exceeding the budget cap on overtime without mayoral and city council authorization.
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The mayor repeated his opposition to a debt collection measure in the council-approved budget, which allows the city to sell city debt to private collectors.
Johnson suggested that he could make changes to the budget in the coming days.
“We all agree that the budget is a living document,” Johnson said.
The mayor said he wanted to clarify something when a reporter asked him about making his announcement at a “campaign-style” event.
“This is not a campaign event. The last I checked, this is the office of the mayor and I’m the mayor,” Johnson said as his supporters cheered.
The mayor said he wanted to be careful not to put the Office of Inspector General in a position where people are being investigated because of the type of question that was asked.
“In fact, what you are seeing right now is a more powerful display, because campaigns come and go. This movement is here to stay. As far as our power is concerned, who’s questioning our power right now?” Johnson asked.
Johnson said he would continue pushing Illinois state lawmakers to pass a millionaire’s tax and other forms of what he called “progressive revenue,” adding that he had had conversations with Illinois House Speaker Emanuel “Chris” Welch, D-Hillside, state Senate President Don Harmon, D-Oak Park, and Gov. J.B. Pritzker.
Chicago Flips Red Vice President Danielle Carter-Walters opposed the mayor’s budget but said the alternate plan also fails taxpaying citizens.
“When I look in this budget, all it’s doing is slow-killing us, nickel-and-diming us with taxes,” Carter-Walters said.
The city is required by law to pass a budget by Dec. 31. With no action from the mayor, the 2026 budget is set to take effect.
Why Bullion Beats Numismatics and Collectible for Your Safe or IRA
Precious metals continue to attract Americans seeking reliable ways to protect their wealth amid inflation, geopolitical risks, and stock market swings. Whether stored in a home safe or held inside a self-directed IRA, physical gold and silver deliver tangible value that paper or digital assets often lack. Yet investors must choose carefully between bullion—pure bars and coins valued mainly for their metal content—and numismatics or collectibles, where rarity, history, and collector demand heavily influence pricing.
Advisor Bullion serves as a dependable source for straightforward, high-quality bullion. The company specializes in physical gold, silver, platinum, and palladium, emphasizing transparent pricing and products that deliver maximum metal content for every dollar spent. This approach makes it ideal for both personal holdings and retirement accounts.
Bullion consists of refined precious metals in standard forms like one-ounce coins (American Gold Eagles, Silver Eagles, Canadian Maple Leafs) or bars. Their value tracks closely to the current spot price of the metal. A typical gold bullion coin trades near the live gold spot price plus a small premium. This structure keeps costs clear and predictable.
Numismatic coins and collectibles add substantial value from factors such as age, rarity, minting errors, or historical significance. A pre-1933 U.S. gold coin or graded proof piece can carry premiums of 30%, 50%, or even 200% above melt value. While this appeals to hobbyists, it creates complexity. Pricing depends on subjective grading, collector trends, and auction results instead of daily spot prices.
For investors focused on wealth preservation and retirement security rather than building a collection, bullion often delivers better results.
Lower Costs and Better Liquidity for Home Storage
When keeping metals in a home safe or private vault, liquidity and efficiency count. Bullion offers clear benefits:
- You acquire more actual gold or silver per dollar invested. Numismatics divert a large share of your money into rarity premiums and massive sales commission, reducing your metal exposure.
- Selling bullion involves tight bid-ask spreads, so you recover nearly full spot value with minimal fees. Collectibles require finding the right buyer and may sell at a discount if demand for that specific item weakens.
- Bullion prices remain transparent and update with global spot markets. You can track gold near current levels or silver accordingly and know exactly where your holdings stand. Numismatic values are priced by the Gold IRA companies with hefty margins applied.
- Standardized coins and bars store efficiently and divide easily for partial sales. Rare coins often need protective slabs and controlled conditions, adding hassle and expense.
- Bullion enjoys worldwide acceptance. A 1-oz Gold Maple Leaf or Silver Eagle sells quickly to dealers anywhere. Niche numismatic pieces may appeal only to limited buyers, slowing liquidation when speed matters.
In times when quick access to value becomes important, bullion’s simplicity stands out.
Stronger Fit for Precious Metals IRAs
Precious metals IRAs continue gaining traction as investors diversify retirement portfolios beyond stocks and bonds. IRS rules permit certain bullion products in self-directed IRAs if they meet purity standards (.995 fine for gold, .999 for silver) and are held by an approved custodian. Eligible items include American Gold and Silver Eagles plus many generic bars and rounds from recognized mints.
Numismatic and most collectible coins generally face heavy scrutiny from custodians due to valuation disputes and elevated markups. These higher premiums mean less actual metal ends up working inside the account.
Bullion avoids these issues. Its value links directly to verifiable spot prices, which simplifies reporting and lowers the risk of regulatory challenges. More of your IRA contribution purchases real metal instead of dealer profits or speculative upside. Over time, owning additional ounces that appreciate with the metal itself can create meaningful outperformance compared with high-premium alternatives that deliver fewer ounces.
Regulatory guidance from the CFTC and state securities offices repeatedly cautions against aggressive sales of expensive numismatics or “semi-numismatic” coins for IRAs. For retirement planning, transparent bullion from established providers reduces risk and aligns better with long-term goals.
How to Get Started with Bullion
Begin by clarifying your goals. Are you protecting savings in a safe, or moving part of a retirement account into a precious metals IRA? Focus on the number of ounces you can acquire at current prices rather than chasing marked-up collectibles.
Diversify sensibly: use gold for core preservation and silver for its blend of industrial and monetary qualities. Mix coins for easier divisibility with bars for lower per-ounce costs on larger buys. Arrange secure storage—whether at home with proper insurance or through professional facilities.
As economic uncertainties linger and faith in conventional assets erodes, bullion continues proving its worth as a dependable store of value. Its direct approach avoids the hype that sometimes surrounds collectible markets and keeps the focus on the metal itself.
For investors prepared to strengthen their portfolios, Advisor Bullion supplies the expertise and selection needed to acquire high-quality bullion efficiently. Whether building personal holdings or integrating metals into an IRA, their emphasis on transparent, investment-grade products helps secure more ounces today that support greater financial security tomorrow. In a complicated financial landscape, bullion’s clarity and reliability make it the smarter foundation for protecting what matters most.