Stacy Curtin, reporting for Yahoo Finance's Daily Ticker, comments on some of the tax benefits of Utah's Legal Tender Act:
Utah has gone for gold — quite literally.Read on ... or watch the video
Last week the state became the first to pass legislation legalizing gold and silver as forms of currency. The law also exempts the coins — which are typically considered an investment -- from capital gains taxes.
This may come as welcomed news for gold bugs: gold has been on a tear for decades -- currently hovering above $1500 an ounce -- and has held up in the midst of tumbling silver, oil, and now the equity market. (See: Same Story, Different Day: European Debt Crisis Spurs Global Selloff)