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Utah Considers Return to Gold, Silver Coins

Posted By admin On March 4, 2011 @ 5:03 am In Money Watch | Comments Disabled

Stephen Clark
Fox News [1]
March 4, 2011

It’s been nearly 80 years since the U.S. stopped using gold coins as legal currency, and nearly 40 since the world abandoned the gold standard, but the precious metal could be making a comeback in the United States — beginning in Utah.

The Utah House was to vote as early as Thursday on legislation that would recognize gold and silver coins issued by the federal government as legal currency in the state. The coins would not replace the current paper currency but would be used and accepted voluntarily as an alternative.

The legislation, which has 12 co-sponsors, would let Utahans pay their taxes with gold and also calls for a committee to study alternative currencies for the state. It would also exempt the sale of gold from the state capital gains tax.

The bill cleared a state legislative committee on Wednesday, the first of 11 similar bills in statehouses across the country to do so. If the bill clears the House, it would have to pass the Senate before the governor could sign it into law.

Full article here [1]

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Utah Considers Return to Gold, Silver Coins  101210banner4 [3]

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URLs in this post:

[1] Fox News: http://www.foxnews.com/politics/2011/03/03/utah-considers-return-gold-silver-coins/

[2] Stock up with Fresh Food that lasts with eFoodsDirect (AD): http://www.efoodsdirect.com/

[3] Image: http://www.stansberryresearch.com/pro/1011PSIENDVD/PPSILC35/PR

[4] Utah Law Makes Coins Worth Their Weight in Gold (or Silver): http://www.prisonplanet.com/utah-law-makes-coins-worth-their-weight-in-gold-or-silver.html

[5] Utah allows gold, silver coin to be used as legal tender: http://www.prisonplanet.com/utah-allows-gold-silver-coin-to-be-used-as-legal-tender.html

[6] China Prepares To Launch Gold ETFs As Utah Becomes First State To Make Gold And Silver Legal Tender: http://www.prisonplanet.com/china-prepares-to-launch-gold-etfs-as-utah-becomes-first-state-to-make-gold-and-silver-legal-tender.html

[7] Arizona Set To Use Gold & Silver As Currency: http://www.prisonplanet.com/arizona-set-to-use-gold-silver-as-currency.html

[8] Mint To Start Selling 2011 American Eagle Silver Coins At 75% Premium To Paper, As Senators Propose Eliminating Capital Gains From Precious Metal Transactions: http://www.prisonplanet.com/mint-to-start-selling-2011-american-eagle-silver-coins-at-75-premium-to-paper-as-senators-propose-eliminating-capital-gains-from-precious-metal-transactions.html

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