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QREX

Coins on eBay

I buy and sell coins on eBay. Here are sample auctions for silver dollars and ounce bullion:

On March 25, 2011, Utah Governor R Herbert signed the Utah Legal Tender Act (HB317) which "recognizes gold and silver coins that are issued by the federal government as legal tender in the state and exempts the exchange of the coins from certain types of state tax liability."

Alas, federal tax law makes it difficult to use gold or silver coins as legal tender. However, I think there is an opportunity to use the Utah Legal Tender Act as a marketing gimmick.

For example, a store might buy silver coins at spot price for an in store credit. The cost of such a transaction is usually on par with the cost of a credit card transaction.

There are other fun gimmicks that one can use with coins. A restaurant might have a menu that lists prices in the face value of old silver coinage. The menu would charge a "sivler nickel" for a soda or a "silver dime" for a hamburger. The price for the meal would be at the day's silver price.

There is a great deal of opportunity to use precious metal coins in charitable fund raisers. A charitable bizarre could have people buy coins at the door which customers would then use for arts, crafts etc..

Trading coins is fun. So, in honor of the Legal Tender Act. I registered this domain name and will give free listings to any business, charity or event that have gimmicks involving gold or silver coins.

Please note, my personal interest is in using smart phones and QR Codes (square barcodes) to track tradable items like coins or art. My primary reason for registering UtahGold.US is to build interest in a product call Q-Rex (qrex.us) which tags coins and other items for trade with Quick Response Codes.