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Daily Ticker: Utah Goes for Gold: State Puts Metal Coins on Par with the Dollar
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.

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)
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