States Shouldn't Wait for a Monetary Crisis to Devastate Their People and Economies. Arizona is the latest state set to make the move. Effective October 1, 2013, the sale of gold, silver, or numismatic coins or of gold, silver, or platinum bullion is exempted from Texas sales and use tax. Is Your State On This List? Gold & Silver Returning To ... If passed, Texans would secure stability by reclaiming . 24K GOLDBACK NOTES. Learn more. Arizona, Wyoming, Texas, Kansas, Louisiana, Indiana, Tennessee, West Virginia, and South Carolina all now accept gold and silver as cash, their representatives and residents […] Diane Alter: Confidence in the U.S. dollar is so low that 13 states are poised to recognize gold and silver coins as legal tender. No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of . The pertinent portion of law that applies to your question is the Coinage Act of 1965, specifically Section 31 U.S.C. 5103, entitled "Legal tender," which states: "United States coins and currency (including Federal reserve notes and circulating notes of Federal reserve banks and national banks) are legal tender for all debts, public charges, taxes, and dues." In particular, Utah has charted a path towards a widespread acceptance of gold and silver, declaring any gold and silver coins issued by the U.S. government as legal tender in the state — and . more. By: Claire Bernish / The Free Thought Project A bill recently introduced in Texas seeks to obliterate the Federal Reserve's much-maligned monopoly on currency by establishing gold and silver as legal tender — but the groundbreaking legislation, if passed, would also prohibit those precious metals from being seized by State authorities. Arizona, Wyoming, Texas, Kansas, Louisiana, Indiana, Tennessee, West Virginia, and South Carolina all now accept gold and silver as cash, their representatives Restoring Gold and Silver as Legal Tender. This shift is rooted in Article 1, Section 10, of the U.S. Constitution, which states that "No State shall… make any Thing but gold and silver Coin a Tender in Payment of Debts." The Perth Mint issues legal tender coins of gold and silver bullion, which are guaranteed to be of the highest quality and weight. Earlier this month the same legislation cleared the Arizona House which leaves only Governor Jan Brewer's signature before it becomes law. So when the Constitution says, in Article I Section 10, "No state shall make any Thing but gold and silver Coin a Tender in Payment of Debts", it means exactly that. Last Wednesday, Oklahoma joined Louisiana, Texas, and Utah in exercising their Constitutional right to grant U.S. minted gold and silver coins legal tender status. Monday, the Republican . Texas and the permanent university fund. Not only is real money, money again in Texas, they chose to bring home Texas gold with the House voting 140-1 to approve the bill 5. In 1792 the market price of gold was about 15 times that of silver. If signed into law, the bill would recognize gold and silver as legal tender for payment of debt and taxes in the state and would remove the state's ability to tax the sale of gold and silver . In 2017, four states had laws in place that expressly recognize gold and silver coins as legal tender: Colorado, Missouri, Oklahoma, and Utah. 2019. Support for sound money obviously is a part of that shift, but so, too, is the campaign among some states to make gold and silver eligible assets for the . Congrats, by the way, to the newcomer on the list, "Take Me Home, Country Roads" West Virginia. Since that time, nine more have joined them. Arizona is another state with a legal tender law passed. If passed, Texans would secure stability by reclaiming their purchasing power &mdash; without being . - No. Oklahoma has a new law that recognizes gold and silver as legal tender and eliminates the sales tax on buying the two metals. West Virginia. Since that time, nine more have joined them. While other states have in recent years passed legislation declaring gold and silver to be legal tender, analysts say Texas' new depository could help supercharge the growing movement for an honest. TEXAS In March of 2017, Sen. Bob Hall introduced SB2097, a bill aimed at establishing a legal tender status for gold and silver including protections from seizure by state authorities. the United States Constitution to make gold and silver legal tender in the payment of debt and to secure the right of citizens of this . This time, its Senate Bill 2097.. Legal Tender Push Could Be Clue to Brighter Gold and Silver Future In my opinion, the bigger issue is the broader shift by states toward precious metals, something I referenced at the outset. Oklahoma Declares Gold & Silver 'Legal Tender' Last week, the state of Oklahoma made it official — as of November 1st of this year, gold and silver will be legal tender. The Sooner State is the fourth (following Utah, Texas, and Louisiana) to affirm that gold and silver coins can be used as media of exchange. The more people are exposed to gold and silver, the more they are likely to recognize their superiority as media of exchange and stores of value. Louisiana, Utah, and Texas have passed legislation recognizing gold and silver as legal tender, a move that allows citizens to make transactions using precious metals in place of cash. I tend to prefer U.S. bullion coinage (Eagle and Buffalo coins) as I am a U.S. citizen and they are legal tender in my country. Arizona is the latest state set to make the move. Monday, the Republican . On January 27, 2017, HB224 was introduced in the Utah legislature to build on the Legal Tender Act. Put your precious metal holdings to work through gold and silver leases. the United States Constitution to make gold and silver legal tender in the payment of debt and to secure the right of citizens of this state under the Ninth and Tenth Amendments of the United States Constitution to tender gold and silver in the payment of debt. 6. GOLD & SILVER LEGAL TENDER. Subtitle C, Title 10, Government Code, is amended by adding Chapter 2117 to read as follows: CHAPTER 2117. This step follows the recent Texas bill, SB 2097, to make gold and silver legal tender in the state. In March of 2017, Sen. Bob Hall, TX, introduced SB2097, a bill aimed at establishing a legal tender status for gold and silver including protections from seizure by state authorities. In 2017, four states had laws in place that expressly recognize gold and silver coins as legal tender: Colorado, Missouri, Oklahoma, and Utah. After reading that document, I still had trouble understanding what the advantages of the new law are for state residents, so I called two of the bill's authors, Rep. Gary Banz, R . Texas Sen. Bob Hall introduced Senate Bill 2097 March 10, which "includes a number of provisions to establish Gold and Silver as legal tender in Texas," TenthAmendmentCenter.com Communications Director Mike Maharrey said. SECTIONA2.AAThe legislature finds and declares that this Act is necessary and proper to: by Planet Today - Sunday, February 14, 2021 Responsive AD ( Planet-Today ) In 2017, four states had laws in place that expressly recognize gold and silver coins as legal tender: Colorado, Missouri, Oklahoma, and Utah. Shepard Ambellas/Intellihub. This bill recognized gold and silver coins issued by the US Mint as legal tender. Texas Bill to Establish Gold & Silver as Legal Tender, Dealing Massive Blow to Federal Reserve On June 4, Oklahoma joined Utah, Texas, and Louisiana in affirming that gold and silver coins are (as they always have been under the Constitution) legal tender in the payment of debts in the. Utah has a modest population of almost 3 million. Many states already recognize gold and silver as legal currency, which will come in handy once fiat currency crashes Saturday, February 13, 2021 by: Ethan Huff (Natural News) In 2017, four states had laws in place that expressly recognize gold and silver coins as legal tender: Colorado, Missouri, Oklahoma, and Utah. August 17, 2016 September 9, 2016 Our Contributors. Some tax it like any other commodity, while others eliminate sales taxes on gold and silver bullion above a certain threshold, such as $1,000. Free Thought Project - by Claire Bernish. Since that time, nine more have joined them. Under the proposed law, "Legal tender" means a recognized medium of exchange for the payment of debts and taxes. A bill recently introduced in Texas seeks to obliterate the Federal Reserve's much-maligned monopoly on currency by establishing gold and silver as legal tender — but the groundbreaking legislation, if passed, would also prohibit those precious metals from being seized by State authorities. Utah has a modest population of almost 3 million. The Rumor Mill News Reading Room Texas Bill to Establish Gold & Silver as Legal Tender, Dealing Massive Blow to Federal Reserve Posted By: Watchman Date: Tuesday, 11-Apr-2017 09:08:21 A bill re… On June 4, Oklahoma joined Utah, Texas, and Louisiana in affirming that gold and silver coins are (as they always have been under the Constitution) legal tender in the payment of debts in the state. On June 4, 2014, Governor Mary Fallin signed into law Senate Bill 862, recognizing gold and silver US-minted coins as legal tender and exempt from state taxation. By: Claire Bernish / The Free Thought Project A bill recently introduced in Texas seeks to obliterate the Federal Reserve's much-maligned monopoly on currency by establishing gold and silver as legal tender — but the groundbreaking legislation, if passed, would also prohibit those precious metals from being seized by State authorities. SECTION 3. While U.S. currency will continue to … Since that time, nine more have joined them. On the surface this seems almost nonsensical: affirming a right that already exists in Article I, Section 10 of the U.S. Constitution. THE TREASURER, THE HON . post. "On June 4, Oklahoma joined Utah, Texas, and Louisiana in affirming that gold and silver coins are (as they always have been under the Constitution) legal tender in the payment of debts in the state. This coin is legal tender in Australia with a face value of AU$0.50. Wyoming. Many states already recognize gold and silver as legal currency, which will come in handy once fiat currency crashes 02/13/2021 / By Ethan Huff In 2017, four states had laws in place that expressly recognize gold and silver coins as legal tender: Colorado, Missouri, Oklahoma, and Utah. The 1-oz Texas Gold Round, made of .9999 pure, fine gold, is the least expensive gold medallion on the market. Thirteen states want to make gold and silver coins legal tender. Massive blow to Federal Reserve. In 1806 President Jefferson suspended the minting of silver coins. Gold and silver have historically been considered . The law came from Senate Bill 862. Although the following is a 2013 article, two years old, it is most definitely related to a bit of news I heard today that Texas has just passed some law in the currently ongoing Texas legislature that relates to making gold and silver direct legal tender in Texas. (1) This exemption does not include gold, silver, or numismatic coins, or gold, silver, or platinum bullion in the form of jewelry or other items of adornment. The United States Constitution which states in Article I, Section 10, "No state shall.make anything Thing but gold and silver Coin a Tender in Payment of Debts." Legislative acts that take steps towards this constitutional requirement are slowly gaining steam. Those states are Louisiana, Texas, and Utah. "A Utah citizen, for example, could contract with another to sell his car for 10 one-ounce gold coins (approximately $17,000), or an independent contractor could arrange to be compensated in gold coins," said Rich Danker, a project director at the American . In 2014, to recognize its strong precious metals partnership, the government mint of Australia - The Perth Mint - issued a silver coin exclusively for commercial distribution from Texas Precious Metals. We provide U.S. minted legal tender coins offering significant tax advantages. On Wednesday, June 4, Oklahoma joined Utah, Texas and Louisiana in affirming that gold and silver coins are (as they always have been under the Constitution) legal tender in the payment of debts in the state. CHEYENNE, Wyo. Arizona senators voted 18-10 on Tuesday to pass a measure that would make gold and silver legal for use as tender for payment. Monday, the . In effect, gold and silver specie would be treated as money, putting it on par with Federal Reserve notes in Kansas. Arizona, Wyoming, Texas, Kansas, Louisiana, Indiana, Tennessee, West Virginia, and South Carolina all now accept gold and silver as cash, their representatives and residents […] In 2017, four states had laws in place that expressly recognize gold and silver coins as legal tender: Colorado, Missouri, Oklahoma, and Utah.Since that time, nine more have joined them. Since that time, nine more have joined them. Clause 1. There are 3 other states that have passed legislation recognizing gold and silver as legal tender. If passed, Texans would secure stability by reclaiming . Texas Legislature Online - 85(R) History for SB 2097 Remember, back in 1934 the Gold Reserve act made it illegal to own gold and you had to sell it to the . The court further ruled that States cannot be subjected to 'legal tender laws' that specify non-existent constitutional authority they don't have-which, of course, Congress did anyway. By having legal tender U.S. bullion coins, it gives me the right to explicitly use their face values in private contracts of sale or purchase so long as I find a willing counter-party. 2018*. Though the dollar came under the gold standard de jure only after 1900, the bimetallic era was ended de facto when the Coinage Act of 1873 suspended the minting of the standard silver dollar of 412.5 grains, the only fully legal tender coin that individuals can convert bullion into in unlimited (or Free silver) quantities, and right at the . The Legal Tender Act was the first of its kind in the nation. The other 37 say they'll just wait for the peso and yuan to become the official U.S. currencies (moneymorning.com) 49 : More: Unlikely, Legal Tender Act, pesos, gold coins, gold bar, Economic stagnation, . Since that time, nine more have joined them. Currently, al Legal tender (noun) is variously defined in different jurisdictions. The Texas Mint offers the Texas Gold Round for those wishing to purchase gold coins for the lowest possible premium and without being subject to 1099-B reporting. A bill recently introduced in Texas seeks to obliterate the Federal Reserve's much-maligned monopoly on currency by establishing gold and silver as legal tender — but the groundbreaking legislation, if passed, would also prohibit those precious metals from being seized by State authorities. A bill recently introduced in Texas seeks to obliterate the Federal Reserve's much-maligned monopoly on currency by establishing gold and silver as legal tender — but the groundbreaking legislation, if passed, would also prohibit those precious metals from being seized by State authorities. The New American - by Bob Adelmann, June 6, 2014. The Constitution of the United States of America is not merely a set of suggestions. However, Oklahoma followed with its legal tender law, bringing the total citizens impacted to almost 7 million. Confidence in the U.S. dollar is so low that 13 states are poised to recognize gold and silver coins as legal tender. Gold & Silver Are Money A bill taking a step towards gold and silver as commonly-used legal tender in Texas passed in the state House today by an overwhelming 140-1 vote. On the surface this seems almost silly: affirming a right that already exists in Article I, Section 10 of the U.S. Constitution. by Claire Bernish. Organizers say it's good news for investors of precious metals but it's . It's a different type of war and money is a major player in the war chest. Now if the private sector can get on board and reintroduce gold and silver as payment for goods and services we just need a way of creating that payment easier to achieve. Take physical delivery or vault and insure them with us free of charge. Arizona is the latest state set to make the move. The world's first legal tender dice-shaped coin! * Wyoming has more legislation to finalize (but almost there) Utah, South Carolina, and Oklahoma have been the "gold standard" in setting legal precedent for returning to gold and silver legal tender. Free From Taxation The unanimous passage of HB 3169, a bill establishing a bullion depository in Texas, is seen as a victory in the fight against the U.S. Federal Reserve's money monopoly. OKLAHOMA CITY - A new law signed by the governor makes gold and silver coins legal tender in the State of Oklahoma. I have not yet searched for and cannot cite the specific bill that would corroborate this bit of news. a form of money, they should be no more subject to taxation than Federal Reserve Notes are. Silver coins left circulation, exported to pay for the debts taken on to finance the American Revolutionary War. Is It Illegal To Own Gold In Australia? Highlights *Individual coins ship in display box with certificate of authenticity *Consisting of 2 oz 999 Fine Silver *Obverse: Features the effigy of Queen Elizabeth II along with the inscription "Solomon Islands", year of issue, metal weight and purity, and legal tender value representative of the value of the dice side *Reverse: Features . post. Gold and Silver Are Money The U.S. Constitution (Article I, Section 10) provides for individual states to recognize gold and silver coins as payment for all debts. No person may compel another person to tender or accept gold or silver coins that are issued by the United States government, except as agreed upon by contract." 43 votes, 16 comments. As of September 2020, states that have legislation to coin their own legal tender from Gold and Silver are Idaho, Texas, Utah, Wyoming, Tennessee, Kansas, Louisiana, South Carolina, Missouri, West Virginia, Indiana, Oklahoma, Nevada, New Hampshire. Specie legal tender would be defined as: (a) Specie coin issued by the United States government at any time; or Other states with legislation in the works include Texas, Idaho, Wyoming, and more. The more people are exposed to gold and silver, the more they are likely to recognize their superiority as media of exchange and stores of value. To date, eleven U.S. states have either acknowledged gold and silver U.S. bullion coins as currency or are on their way to accepting the two metals as legal tender. If passed, what this bill would do is, "make gold and silver legal tender in the state of Texas." However, the bill does have a few caveats. Specifically, Article I, Section 10 of the U.S. Constitution states, "No State shall … make any Thing but gold and silver Coin a Tender in Payment of Debts." Another State Declares Gold and Silver Coins Legal Tender. Sales Tax Laws on Gold and Silver - Since 2013, Texas does not impose sales tax on precious metals purchases of any amount. (Article by Ethan Huff republished from NaturalNews.com) Since the nation's founding, the U.S. Constitution has guaranteed states the right to designate gold and silver as legal tender. […] A bill recently introduced in Texas seeks to obliterate the Federal Reserve's much-maligned monopoly on currency by establishing gold and silver as legal tender — but the groundbreaking legislation, if passed, would also prohibit those precious metals from being seized by State authorities. The law eliminated state taxes on the exchange of government-issued gold and silver coins and recognized them as legal tender in the state. Legislation to approve the use of gold and silver as legal tender has passed the House in Missouri, the latest state to work on use of the precious metals. Gold and Silver Recognized as Money in Texas? GOLD LEASES. View Charts; Gold $0.00 $0.00; Silver $0.00 $0.00; Platinum $0.00 $0.00; Palladium $0.00 $0.00; Compare . A place to discuss libertarianism, politics, related topics, and to share things … A bill recently introduced in Texas seeks to obliterate the Federal Reserve's much-maligned monopoly on currency by establishing gold and silver as legal tender — but the groundbreaking legislation, if passed, would also prohibit those precious metals from being seized by State authorities. Gold and silver coins were legal tender, as was the Spanish real. Learn more. 4 Items. View as: List Grid. Utah passed a law in 2011 to make gold and silver coins legal tender in Utah, the first state to do so in over 80 years. Show. The wild west seems ready to return to its gold rush roots. In their mission to promote Texas Independence, the Texas Nationalist movement has made yet another endorsement of a bill currently being considered from this year's Texas legislative session. Are Gold and Silver Recognized as Legal Tender? The first is SB1245: it's only a few paragraphs long, and basically reaffirms silver and gold as legal tender, and as currency. (Feb. 8, 2018) - A bill filed in the Wyoming House would define gold and silver specie as legal tender and eliminate all taxes levied on it.The new law would pave the way for the use of gold and silver in everyday transactions and could help undermine the Federal Reserve's monopoly on money. 457k members in the Libertarian community. Oklahoma's SB 862 reads, in part, "gold and silver coins issued by the United States government are legal tender in the State of Oklahoma. Section 10. Wyoming State Flag. Arizona, Wyoming, Texas, Kansas, Louisiana, Indiana, Tennessee, West Virginia, and South Carolina all now accept gold and silver as cash, their representatives and residents . Formally, it is anything which when offered in payment extinguishes the debt. However, Oklahoma followed with its legal tender law, bringing the total people impacted to almost 7 million. However, if gold and silver really are accepted as legal tender, i.e. It doesn't really tread any new ground, however, it's being brought forward right now to complement another law in consideration, one which does blaze a trail through a great deal of fresh territory. Confidence in the U.S. dollar is so low that 13 states are poised to recognize gold and silver coins as legal tender. (Natural News) In 2017, four states had laws in place that expressly recognize gold and silver coins as legal tender: Colorado, Missouri, Oklahoma, and Utah. 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