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Utah Gold and Silver Legal Currency – Keep it on Deposit

May 23, 2011

Thats pretty known news, but I found this part more interesting:

“Craig Franco hopes to cash in on it with his Utah Gold and Silver Depository, and he thinks others will soon follow.

The idea is simple: Store your gold and silver coins in a vault, and Franco issues a debit-like card to make purchases backed by your holdings.

He plans to open for business June 1, likely the first of its kind in the country.

“Because we’re dealing with something so forward thinking, I expect a wait-and-see attitude,” Franco said. “Once the depository is executed and transactions can occur, then I think people will move into the marketplace.”

Could be the start of something great, and seems a safe way for people to get into physical.

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