In 2011, Utah was the first state in over 80 years to pass a law making gold and silver coin legal tender. Its passage sparked articles in the New York Times, The Los Angeles Times, The Washington Post and a host of major internet news sources. After decades of obscurity, Utah’s historic measure put sound money back on the map. Not satisfied to rest on their laurels, Utah passed a companion bill in the 2012 session, and it was signed by Governor Herbert.
The bill clarifies several tax measures and more importantly, expands the available specie to include gold and silver coin approved by the state.
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:Details