Utah Recognizes Gold Coins to Be Money
The state of Utah has recently enacted a law by which the gold coins issued by the US Mint are to be considered money and, therefore, not subject to capital-gains taxation. The law does not apply to foreign-issued coins, such as South African Krugerrands, by far the most popular precious-metal coin in the world. Nor does the law apply to privately issued coins, such as the so-called Ron Paul Dollar. Capital gains on the US-issued coins would still be subject to federal taxation.