Enactment of this law would make Louisiana the fifth state to recognize gold and silver as legal tender. Utah led the way, reestablishing constitutional money in 2011. Wyoming, Oklahoma, and Arkansas have since joined. Practically speaking, this would allow Louisianians to use gold or silver coins as money rather than just as mere investment vehicles. In effect, it would put gold and silver on the same practical footing as Federal Reserve notes.
Louisiana Bills Would Make Gold and Silver Legal Tender tenthamendmentcenter.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tenthamendmentcenter.com Daily Mail and Mail on Sunday newspapers.
Missouri House Committee Passes Bill to Make Gold and Silver Legal Tender in the State tenthamendmentcenter.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tenthamendmentcenter.com Daily Mail and Mail on Sunday newspapers.
Under the proposed law, “any gold or silver coin or specie issued by any state or the United States government as legal tender shall be recognized as legal tender in the state of Louisiana.”
The legislation would create a sales and use tax exemption for precious metal bullion. The bill defines “precious metal bullion” as coins, bars, rounds, or sheets that contain at least 35 percent gold, silver, copper, platinum, or palladium.