Utah House Stamps Gold, Silver As Legal Tender.

[Ponce]

Sunday
Mar272011

Utah House Stamps Gold, Silver 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.

It voted 47-26 to pass HB317 by Rep. Brad Galvez, R-West Haven, and sent it to the Senate. The measure would recognize as legal tender gold and silver coins issued by the federal government — not just their face value, but also their value in gold and silver or to a collector.

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.

“This is a step in preparedness, a step in security,” Galvez said, “that allows us to be able to help hold up our economy as the dollar continues to shrink.”

http://dailybail.com/home/utah-house-stamps-gold-silver-as-legal-tender.html

[chad]

i thought there was a really old, big ass piece of paper in washington that already had this whole legal tender thing figured out.

[SLV^GLD]

Yeah, I got smited for pointing out legislation that enables concealed carry without a permit is redundant and backwards. This is like deja vu.

[still afloat]

It voted 47-26 to pass HB317 by Rep. Brad Galvez, R-West Haven, and sent it to the Senate. The measure would recognize as legal tender gold and silver coins issued by the federal government — not just their face value, but also their value in gold and silver or to a collector.



Is this a good or bad thing in reality ?
I read it as an opportunity for requiring all silver and gold coin holdings to be appraised and then taxed at the highest value .
Such as that stack of common morgan dollars with a silver value of @ $27 each could then be appraised by the gov. at @ $40 each as a collectors coin . I know ,keep your mouth shut that you have that stack of morgans , but then doesn't that make this a little pointless to pass ?
Maybe I'm way off in my thinking .