Under the proposed law, "specie coins" issued by the U.S. government or any other specie that a court of competent jurisdiction designates would be legal tender in the state of Kansas and recognized as a medium of exchange for the payment of debts and taxes.
Practically speaking, this would allow Tennesseans 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 footing as Federal Reserve notes.
A bill filed in the Oklahoma Senate would establish a state bullion depository. This would not only create a safe place to store precious metals; it also has the potential to facilitate the everyday use of gold and silver in financial transactions in Oklahoma and set the stage to undermine the Federal Reserve’s monopoly on money
Today in history, the Coinage Act of 1792 was passed. It was the first attempt, under the current Constitution, to establish a coinage system for the United States. The coins were based on a decimal system, championed by Thomas Jefferson and Robert Morris in the 1780s. In a report titled “Notes on the Establishment of
The legislation would exempt precious metal bullion from the state sales tax. The bill defines precious metals bullion as “coins, bars, or rounds, minted primarily of refined gold or silver, that are: Marked and valued by their weight, purity, and content; or minted by a government authority”