PRLog - Apr. 6, 2011 - Utah Governor Gary Herbert signed legislation last week making gold coins and silver coins legal tender in the State of Utah. The controversial bill takes effect May 7 and requires the state’s Revenue and Tax Committee to look at alternative forms of payment – including acceptance of gold and silver coins. Legislatures want to see the actual market value of the gold and silver coins accepted as currency instead of just the face value stamped on the coins.
Invest in Gold Today! www.aglobalcurrency.com
Utah State Representative Brad Galvez introduced the bill as a measure to protect Utah citizens against inflation and the devaluation of the United States dollar by excessive printing of dollars from the United States government. He ultimately wanted to see gold and silver depositories all over the State of Utah accepting gold coins and silver coins for deposit and then issuing debit cards to customers for the market value of gold and silver stored with the depository. Customers would then use the gold and silver backed debit cards for purchases.
As more and more states adopt legislation to make gold coins and silver coins legal tender, more people are going to purchasing these coins, increasing the demand and the scarcity. This action should help support the price of gold coins and silver coins and eventually raise the price of gold even higher. Global Gold Group can help you capitalize on this trend by diversifying your portfolio with gold coins and silver coins. For more information, please check out their website at http://www.aglobalcurrency.com or call 888-700-4148.