States Where Gold and Silver Have Become Legal Tender The Utah Legal Tender Act, which was passed March 10, 2011, recognizes gold and silver coins as legal tender in the state of Utah. Gold and Silver Coin Sales (code 26) - Utah Income Taxes Will Gold and Silver Become Currency Again? These GBP coins are; 5, 10, 20, and 50 pound while the banknotes or bills are; 1, 2 Pound and 1, 2, 5, 10, 20 and 50 pennies. Governor Jan Brewer vetoed S.B.1439 in 2013, and Governor Doug Ducey . An exploration of the Utah Goldback and the Utah law that inspired it. States Restoring Gold and Silver as Money Utah to Make Gold and Silver Legal Tender The big legal change in Utah is that the state tax code now treats gold and silver coins -- issued by the U.S. Mint -- as currency rather than an asset. 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 th e United States -- beginning in Utah. Gold & Silver Bullion Legal Tender Laws Gold and Silver are Legal Tender in Utah | Weber Sentinel ... 49 (1) Gold and silver coin issued by the federal government is legal tender in the state. ARIZONA Utah House stamps gold, silver as legal tender snip This means they can be used as money throughout the state. On Friday, March 25th, Gov. Arizona, Wyoming, Texas, Kansas, Louisiana, Indiana, Tennessee, West Virginia, and South Carolina all now accept gold and silver as cash, their representatives and residents recognizing that Federal Reserve . Gary Herbert signed HB 317, the "Utah Legal Tender Act," into law. The legislation, called the Legal Tender Act of 2011, was inspired in part by Tea Party supporters, some of whom believe that the dollar should be backed by gold or silver and that Obama . The "Utah Legal Tender Act," as the new law is known, "recognizes gold and silver coins that are issued by the federal government as legal tender in the state and exempts the exchange of the coins from certain types of state tax liability," according to the bill. The law recog nizes gold and silver coins issued by the federal government as legal currency in the state. ARIZONA. SALT LAKE CITY, Utah: Earlier this year, the Utah Legislature passed a law stating that gold and silver coins could be used as legal tender in the state of Utah. Gold and silver will be used as legal tender." Rep. Ken Ivory (R-West Jordan) introduced House Bill 224 (HB224) on Jan. 27 creating a foundation for further action to encourage the use of . As RT reported earlier, an effort in the State House and Senate to have precious metals once again considered legitimate currency has garnered an . This means they can be used as money throughout the state. This bill recognized gold and silver coins issued by the US Mint as legal tender. The bill recognizes gold and silver coins issued by the federal government as legal . Gold and Silver Are Legal Tender in Utah. 2018*. Utah has now become the first State on our list to actually enact a sound money bill into law. States using gold and silver as legal tender is an awful idea, and simply won't work unless states can fix the global price of gold and silver and are willing to accept them as payment for taxes. I tend to prefer U.S. bullion coinage (Eagle and Buffalo coins) as I am a U.S. citizen and they are legal tender in my country. Utah is now allowing the coins to be used as legal tender while levying no taxes. Utah has taken steps to reaffirm its constitutional duty to treat gold and silver coins as tender for payment of debt as Oklahoma did with the recent passage of SB 862. In Utah, Gov. Wyoming. Find many great new & used options and get the best deals for Rand McNally Utah + World + US Pull-Down School Classroom Maps Grade 3 4 5 6 7 8 at the best online . These are the coins that Utah designates as legal tender (Federal Reserve notes also remain legal tender). The legislation, called the Legal Tender Act of 2011, was inspired in part by Tea Party supporters, some of whom believe that the dollar should be backed by gold or silver and that Obama . Subject to Subsection 59-1-1502(3), as used in this part, "specie legal tender" means gold or silver coin that is issued by the United States. In January of this year, Rep. Ken Ivory (R-Utah) introduced a bill that would add to Utah's Legal Tender Act, thus further promoting gold and silver as currency. Alpine, Utah 84004. It also exempts gold and silver transactions from the state's capital gains tax, though that does not shield exchanges from federal taxes. Earlier this year, the Utah state legislature passed a law making gold and silver coins legal tender. Next stop, the Utah Senate. The state of Utah passed the "Utah Legal Tender Act," which "recognizes gold and silver coins that are issued by the federal government as legal tender in the state and exempts the exchange of the coins from certain types of state tax liability." 2019. Gary Herbert's signature on March 25, the state of Utah became the first in recent times to officially accept gold and silver coins as legal tender at their true value, prompting praise. Lawmakers in the House and Senate have passed HB317 47-26 that would allow Buffalo and Eagle coins to be used as legal tender. 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 . Kansas Legal Tender Act Would Authorize Use of Non-U.S.-Minted Gold and Silver. Gary Herbert signed HB 317 the "Utah Legal Tender Act," into law. Fast-forward to the 1970s, when a now-departed US senator from North Carolina named Jesse Helms and an upstart young Congressman from Texas named Ron Paul persuaded Congress to lift the bans on indexation and on the ownership of gold and, furthermore, to authorize the US Mint to emit legal-tender gold coins, albeit at a nominal value. Section 59-1-1503 is enacted to read: 53 59-1-1503. Its Legal Tender Act of 2011 enables U.S. minted gold and silver coins to to be recognized as monetary currency. Alpine Gold launches new Lease Program To supplement the Goldback lease program which has been ongoing for the last couple of years, Alpine Gold has developed a new program allowing a broader set of UPMA members to participate in Goldback leases with a lower minimum threshold as well as the ability to lease Gold and Silver Dollar holdings. In addition to accepting gold and silver as legal tender, Utah's bill also arranges for a study on whether or not to establish some sort of metal-backed money system. Drockton Bullion and Coin Ltd has a proven Retail Partnership Program. He claims they are legal tender and that they are 6 grams of 24k pure gold. The Sooner State is the fourth (following Utah, Texas, and Louisiana) to affirm that gold and silver coins can be used as media of exchange. Sunday Mar272011 Utah House Stamps Gold, Silver As Legal Tender. "A Utah citizen, for example, could contract with another to sell his car for 10 one-ounce gold coins (approximately $17,000), or an independent contractor could arrange to be compensated in gold coins," said Rich Danker, a project director at the American . 50 (2) A person may not compel any other person to tender or accept gold and silver coin. This month Utah became the first state in the country to officially recognize gold and silver coins as legal currency: Utah legislators want to see the dollar regain its former glory, back to the days when one could literally bank on it being "as good as gold." In 1900 the gold dollar was declared the standard unit of account and a gold reserve for government issued paper notes was established. And now for some heavy metal news: the Arizona state legislature has officially approved a measure to make gold and silver legal tender. On Friday, March 25th, Gov. Specifically exempted from Utah sales taxes are currencies or coinage that are legal tender of the United States or any foreign nation, and non-legal tender bars, ingots, medallions, and decorative coins that are comprised of at least 50% gold, silver, or platinum. Two bills declaring legal tender status for gold and silver coins were vetoed despite having passed the state legislature by a large margin. Read the rest here: [link to www.washingtontimes.com] Then gold & silver will once again be legal tender in Utah. The law recognizes gold and silver coins issued by the federal government as legal currency in the state. ARIZONA. 52 Section 3. Arizona could soon become the second U.S. state to recognize gold and silver as legal tender if the Arizona House approves SB 1439. The law does not force anyone to accept or pay in precious metals, but rather . Utah House Passes Bill Recognizing Gold, Silver as Legal Tender By | Fox News Facebook Twitter Flipboard Print Email The Utah House was to vote as early as Thursday on legislation that would. In the current paradigm, this means gold- and silver-backed coins or notes as opposed to paper fiat Federal Reserve Notes. Now, a Salt Lake City-area numismatist hopes to set up a system that will allow Utahans to use . Congrats, by the way, to the newcomer on the list, "Take Me Home, Country Roads" West Virginia. Utah has now become the first State on our list to actually enact a sound money bill into law. Gold and silver will be used as legal tender." Rep. Ken Ivory (R-West Jordan) introduced House Bill 224 on Jan. 27 creating a foundation for further action to encourage the use of gold and silver as money. With Gov. Arizona is the second state after Utah to allow gold coins created by the Fed and private mints to be used as . Utah accepted gold and silver as currency as far back as 2011, when it became the first state in 80 years to make gold and silver legal tender. Earlier this year, the Utah state legislature passed a law making gold and silver coins legal tender. Perhaps the manipulated market crashes of 2000, and 2008 along with an out of control spending congress had opened up some eyes? Utah's Legal Tender Act Gold and silver coin issued by the federal government is legal tender in the state A person may not compel any other person to tender or accept gold and silver coin There is. West Virginia. whitesboro news record obituaries Utah's Gold and Silver Legal Tender Law - YouTube Author of the gold and silver legal tender law in Utah, Larry Hilton, discusses the reasons behind this legislation and why it is important for. So we called Craig Franco, he. Last Monday Arizona lawmakers passed a bill that makes precious metals legal tender. The State of Utah became the very first U.S. state to recognize gold as legal tender. Source - Salt Lake Tribune It may not fold as conveniently as dollar bills, but the Utah House took a first step Friday to recognize gold and silver as legal tender. The law recognizes gold and silver coins issued by the federal government as legal currency in the state. Gary Herbert’s signature on March 25, the state of Utah became the first in recent times to officially accept gold and silver coins as legal tender at their true value, prompting praise from sound-money advocates warning about the future of the Federal Reserve System and its fiat. The founders of the Constitution of the United States confirmed the use of gold and silver because they clearly saw the need for a stable monetary exchange system. The intent behind the card payments is to allow new members to test the system before fully funding their accounts. Nationally, such coins may be used as collector items or as investments, but federal law does not require individuals to accept them as money. However, since 1986, the U.S. Mint has issued American Gold Eagle and silver bullion coins in various denominations and designated them legal tender for payment of debts. The Utah Legal Tender Act was passed on March 10, 2011, setting the stage for other states to pursue similar legislation. 6. It also would order the state to study whether Utah should establish an alternative form of legal tender, such as one backed by silver and gold. Since the time of President Reagan, the Treasury of the United States has minted U.S dollars in the form of gold and silver coins. Utah has been moving toward using gold and silver as a currency for more than a year. The Utah Legal Tender Act was passed on March 10, 2011, setting the stage for other states to pursue similar legislation. to actually enact a sound money bill into law. * Wyoming has more legislation to finalize (but almost there) Utah, South Carolina, and Oklahoma have been the "gold standard" in setting legal precedent for returning to gold and silver legal tender. 10 (3) Gold or silver coin or bullion, other than gold or silver coin that is issued by the United States, is considered to be specie legal tender and is legal tender in the state if: The law recognizes gold and silver coins issued by the federal government as legal currency in the state. The Utah Legal Tender Act of 2011 codified the idea that gold and silver coins minted by the United States are legal forms of exchange. UTAH Utah became the first state declaring US-minted gold and silver coins as legal tender. We were curious about exactly how that might work. Despite this law, it is not yet possible to pay the state in this manner, as evidenced by Carlton Bowen attempting to pay his property tax using silver coins. In 2017, four states had laws in place that expressly recognize gold and silver coins as legal tender: Colorado, Missouri, Oklahoma, and Utah.Since that time, nine more have joined them. In other words, states can rightfully provision that transaction occur using gold and silver as legal tender as opposed to something else. Alpine Gold solves this issue for the UPMA by offering accounts denominated in U.S. Silver or Gold coin. These coins are legal tender just like Federal Reserve notes. Check out International Stacker trying to destroy one of thesehttps://www.youtube.com/. 51 that is issued by the federal government. The Utah Legal Tender Act was passed on March 10, 2011, setting the stage for other states to pursue similar legislation. Check and wire payment methods allow for the lowest rates and quickest clearing times. On Friday, March 25th, Gov. Utah's action is important for several reasons. The bill has already won the approval of Arizona's State Senate and the Arizona House Financial Institutions Committee which voted the legislation out of committee on a 4-2 vote Monday. Utah does not charge sales taxes on most forms of coins or bullion products. Utah House Approves Gold, Silver as Legal Tender - The New American Utah House Approves Gold, Silver as Legal Tender by Alex Newman March 7, 2011 In addition to possibly making precious-metal coin. Utah approves gold and silver as legal tender Thread starter Pulpy; Start date Mar 9, 2011; 1; 2; 3 . Visit our parent organization, Consumer Reports , for the latest on scams, recalls . Two bills declaring legal tender status for gold and silver coins were vetoed despite having passed the state legislature by a large margin. According to the Salt Lake Tribune, Utah residents may soon be allowed to use gold and silver coins in order to purchase goods and services. The Utah Legal Tender Act is not new…it was passed on March 10, 2011. Learn how your business can profit from accepting Gold and Silver without the risks of liquidation, cash flow or other concerns. Utilizing gold and silver as currency is currently possible in Utah, although for many merchants, it's the furthest thing from their mind. Herbert signed a bill into law in March of 2011 that made government-issued gold and silver coins legal tender for transactions and eliminated state capital gains taxes on their exchange, according to CNN Money. This includes allowing the state of Utah to pay off debts in gold and silver and allowing individuals to transact in gold and silver coins without paying state capital gains tax, among other provisions. Gary Herbert signed HB 317, the "Utah Legal Tender Act," into law. About Bill Dollar 50 Value Gold 24k . 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