Arizona legalizes gold as currency

I dont know much about this subject, but i hear that there is going to be legal gold as currencies in arizona? What does this actually mean? Cause i thought it was legal to exchange gold for money lol..

 

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What the law does, I understand, is eliminate the state capital gains tax on precious metals sales.

 

So does that mean that the price of silver coins go up here basically?

 

That I wouldn't know.

 

Okay, would you think that this may have to do with business owners? its kinda of confusing because i try to understand how it would help us, and its labeled " a pretty big deal" im trying to figure out how it helps lol

 

That's interesting reading.
Stop state capital gains, but of course not federal capital gains.

So when you go to Arizona you can now use your 1oz silver American Silver Eagle for $1.00, or $100 1oz Gold for $100.00. Nice

but nothing seems to resolve all the questions I can think of in the few articles I quickly read. Should be interesting going forward.

I'm curious how this correlates or doesn't to states like Michigan where there is an exemption for any transaction involving PMs & collectable coins.

 

Its like your in a different country !

 

Cool! Now I get to unload all of my PM's at the Dollar Tree!!!

 

1 ounce gold only $50. This is much ado about nothing. Nobody paying no capital gains taxes on no PMs anyway.

 

Maybe so the state could take over producing gold and silver mines as 'currency control'. If you drive through that state with "Foreign" ( not AZ) be very very careful.