[jongaltsr]

By using the term "legal tender", they are declaring that the value of a Gold Eagle is $50, its face value if it is used as money. Likewise, a Silver Eagle's face value is $1.

This is unfortunate. For this reason, no one with a brain will use gold and silver bullion coins as legal tender in Utah. This provision of the law was ill-advised and needs to be rewritten.

You obviously do not understand how gold is exchanged.

A St.Gaudins Gold 1 oz coin is worth close to $2000.

If you are willing to exchange it for $50 please come to me. I will buy everything you have

[Publius]

On the contrary, I know exactly how gold is exchanged -- when you're dealing with a gold, silver or coin dealer. I know exactly how much an old St. Gaudens Double Eagle goes for, along with the exchange rate for a modern Canadian Maple Leaf.

What you don't understand is that when you are dealing with a government agency enabled by legal tender laws, that very valuable ounce of gold goes for only its face value. Under the Utah law as written, if you want to pay a state tax with gold, that one ounce Gold Eagle is only worth its $50 face value to the state. That's all you'll get, even if today's gold dealer value for that coin is closer to $1500.

This is why that provision of the law needs to be replaced. It's a trap.