Utah Law Recognizes Gold Coins As Legal Tender

03/30/2011 09:14 am ET | Updated May 30, 2011

The Beehive State has a new measure on the books that eliminates state taxes on the exchange of gold and silver coins and directs the legislature to study an "alternative form of legal tender."

The law, signed by Gov. Gary Herbert last week, also recognizes gold and silver coins issued by the federal government as legal tender in the state.

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