Contact Us

Utah First State To Use Gold As Money

gold american legal coin
(cnn.com)

Ten states are considering it, but Utah is the first to make Federal gold and silver coins legal tender.

None of the other states have had similar bills voted out of committee yet. While gold is of course worth hundreds of dollars, and silver as well, the big difference in this measure is that the Utah Tax Code now treats gold and silver coins as legal tender, not just an investment.  That is how most people regard such precious metals.  However, another thing to consider:  While gold as an investment is worth $1,400 an ounce last week, a $50 gold coin is still worth only 50 dollars as legal tender-there is a big difference.  Not sure how this will translate in the future, but the fact that ten other states have voted down this type of deal indicates the tax and financial headaches it can cause.  Most observers believe this gesture is more symbolic from Utah, trying to convince the Fed they need to get control of their fiscal policies and defecit spending.

Best of Newstalk 870

Recommended For You

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to http://newstalk870.am using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for Newsmembers quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive Newsmembers contests, events, coupons, presales, and much more delivered to you for FREE.