Lawmakers Back Recognizing Gold & Silver as Currency
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Lawmakers Back Recognizing Gold & Silver as Currency
By Amanda Verzello
Utah might be one step closer to its own gold standard after the Senate approved a bill Thursday that would require the state to recognize gold and silver coins as legal tender.
“Our hope is to help stabilize the currency within our own state long term,” said Senate Majority Leader Scott Jenkins, R-Plain City.
HB317, passing 17-7, makes the exchange of federally issued gold and silver coins an option for businesses and individuals, though it does not mandate it. The bill also requires gold and silver coins to be valued at their current market value.
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