a Missouri Senate committee passed a bill that would take important steps toward treating gold and silver as money instead of commodities and would set the stage for the people to undermine the Federal Reserve’s monopoly on money.
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.
The legislation would exempt from sales tax the sales of platinum, gold, and silver bullion that are valued solely upon their precious metal content, whether in coin or ingot form.
The law would amend the Wyoming Legal Tender Act to require the state treasurer to establish a system to provide for the payment of state and local taxes with specie or specie legal tender "subject to authentication procedures . that are consistent with precious metals industry standards."
Under the proposed law, gold and silver coins issued by the federal government would be deemed legal tender in this state, as was always required by the Constitution.