[Publius]

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.

[ctdonath2]

Was wondering about the details of that.

Some employer paid his employees along those lines: say, $50/week ... paid in gold US face-value coin. The IRS had a problem with that.

[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