Individual US States push for gold and silver legalization

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Sound Money Advocates in Wyoming Introduce Bill to Establish Gold Reserve

Lawmakers in Wyoming have introduced legislation today to create the “Wyoming Gold Reserve.”

www.soundmoneydefense.org

Legislation Introduced in Virginia to Keep Gold and Silver Tax Free

Virginia currently exempts precious metals purchases from state sales tax, however this exemption is set to expire in June of this year. House Bill 2336 aims to extend the current law on gold and silver.

www.soundmoneydefense.org

Update.

Wyoming Senate Approves Bill to Hold $10 Million in Physical Gold

With an overwhelming majority, the Wyoming state senate has voted favorably on legislation that would establish a stockpile of gold for the Cowboy State.

www.soundmoneydefense.org

 

[Fatrat]

Dear Governor DeSantis,
Please repeal the sales tax on gold and Silver precious metals. I realize that tax applies to amounts less than $500, but we should not tax at any amount.
Sincerely, Joe Taxpayer



P.S. time to write the Governor again.

 

[searcher]

SALT LAKE CITY, Utah (May 3, 2024) – On Wednesday, a Utah law creating a process for the state to invest in and hold precious metals in reserve accounts went into effect. This sets a foundation for the Beehive State to achieve more financial independence and take a small step toward undermining the Federal Reserve’s monopoly on money.

Rep. Ken Ivory introduced House Bill 348 (HB348) on Jan. 19. The Senate approved HB348 by a 25-2 vote. The House approved the bill by a vote of 52-18. With Gov. Spencer Cox’s signature, the law went into effect on May 1.

Holding gold and silver will allow the state of Utah to shield its assets and hedge against rapidly depreciating Federal Reserve notes. Adding gold and silver in reserve could also create a pathway for Utah to maintain financial independence should the U.S. dollar collapse, a very real possibility as the world moves away from the greenback as its reserve currency.

Now in Effect: Utah Law Authorizes State Gold and Silver Reserves | Tenth Amendment Center

SALT LAKE CITY, Utah (May 3, 2024) – On Wednesday, a Utah law creating a process for the state to invest in and hold precious metals in reserve accounts went into effect. This sets a foundation for the Beehive State to achieve more financial independence and take a small step toward undermining...

blog.tenthamendmentcenter.com

Update:

Utah House Passes Bill to Create Gold and Silver-Backed Payment System for State Vendors | Tenth Amendment Center

The legislation would require the state treasurer to "develop and issue a competitive procurement to create, supply, and operate a precious metals-backed electronic payment system for the state." The payment system would use "gold or silver vaulted within the state," and allow for "the...

blog.tenthamendmentcenter.com

 

[pmbug]

"The payment system would use “gold or silver vaulted within the state,"

Did Utah authorize the development of a State owned/managed vault, or are they planning to contract with a private vault? Either way, nice to see Utah making some headway with these initiatives.

 

[searcher]

Well that's some bullshit. How often do Governors oppose expanding State power? MoneyMetals (closely tied to the Sound Money Defense League) is building a huge vault facility in Idaho. I wonder if they might start supporting a challenger for the Idaho Governor...

Update.

Idaho Constitutional Money Act Would Recognize Gold and Silver as Legal Tender | Tenth Amendment Center

Under the Idaho Constitutional Money Act of 2025, gold and silver coins and specie minted domestically would be recognized as legal tender in the state and would be "accepted for the satisfaction of debts under the laws of the state of Idaho or of the United States."

blog.tenthamendmentcenter.com

 

[pmbug]

^^ Do they have a new Governor?

 

[pmbug]

Yes exactly. The legislature passed a bill ending the sales tax in 2024 as part of a larger bill. The governor line-item vetoed our sales tax exemption specifically, sneering, "if you can afford to buy gold, you can afford to pay tax."

The legislature said, "you can't do that, it's unconstitutional."

The attorney general declared the Gov.'s veto was unconstitutional, as the KY gov. does not have the power to line-item veto this specific type of bill, according to the KY Constitution.

The gov ignored the AG and told his departments to continue collecting the tax on purchases of sound money, and that anyone who does not comply is subject to legal or financial penalties.

So now this year, there's a bill by @SteveDoanLaw to repeal and reenact the exemption that was passed in 2024, backdated to the original passage date.

And a bill by @realTJRoberts that gives citizens an avenue to sue the governor and his departments for wrongful taxation on purchases of gold and silver.

 

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Alabama State Sen. Tim Melson Named 2024’s “Sound Money Legislator of the Year”

America's top-rated national precious metals dealer and the nation's preeminent sound money policy group are proud to announce Alabama state Senator Tim Melson as the 2024 "Sound Money Legislator of the Year."

www.soundmoneydefense.org

More:

Alabama Panel Advances Bill to Recognize Gold and Silver as Legal Tender | Tenth Amendment Center

Under the Alabama Legal Tender Act, "any refined gold or silver bullion, specie, or coin that has been stamped, marked, or imprinted with its weight and purity" would be recognized as legal tender in the state.

blog.tenthamendmentcenter.com

 

[Ttazzman]

the last couple of years we have had real money bills go thru our state congress each year they ALMOST make it thru both houses.....each year there is some sort of delay and slow rolling by a committee, passes one house but not the other, etc......each year we reintroduce the bills and push again...this year we are facing a committee delay (held up until some lawyer can verify the constitutionality of it, committee chair is the problem) ......these processes are difficult for every state trying to get the legislation done and it takes a huge amount of pressure and persistence ....maybe this year for Missouri i hope

 

[pmbug]

Same video on Rumble:


I found the whole video interesting, but starting ~14:14, he starts talking about the support the transactional gold bills have in various States (besides Utah which he talked about in the previous 10 minutes or so).

 

[pmbug]

 

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Update:

Constitutional Money Act Filed in Missouri House | Tenth Amendment Center

Two bills filed in the Missouri House would officially recognize gold and silver as legal tender, eliminate state capital gains taxes on both, and ban support for any federal confiscation schemes.

blog.tenthamendmentcenter.com

Update.

Missouri House Committee Holds Hearing on Constitutional Money Act | Tenth Amendment Center

Under the “The Constitutional Money Act,” gold and silver would be accepted as legal tender in physical or electronic form, and would be receivable in payment of all debts contracted for in the state of Missouri.

blog.tenthamendmentcenter.com

 

[WinkWink]

the last couple of years we have had real money bills go thru our state congress each year they ALMOST make it thru both houses.....maybe this year for Missouri i hope

 

[searcher]

More:

Alabama Panel Advances Bill to Recognize Gold and Silver as Legal Tender | Tenth Amendment Center

Under the Alabama Legal Tender Act, "any refined gold or silver bullion, specie, or coin that has been stamped, marked, or imprinted with its weight and purity" would be recognized as legal tender in the state.

blog.tenthamendmentcenter.com

Update.

Alabama Senate Unanimously Passes Bill to Recognize Gold and Silver as Legal Tender | Tenth Amendment Center

Under the Alabama Legal Tender Act, “any refined gold or silver bullion, specie, or coin that has been stamped, marked, or imprinted with its weight and purity” would be recognized as legal tender in the state.

blog.tenthamendmentcenter.com

 

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Update.

Missouri House Committee Holds Hearing on Constitutional Money Act | Tenth Amendment Center

Under the “The Constitutional Money Act,” gold and silver would be accepted as legal tender in physical or electronic form, and would be receivable in payment of all debts contracted for in the state of Missouri.

blog.tenthamendmentcenter.com

Update.

Constitutional Money Act Clears Missouri House Committee | Tenth Amendment Center

Under the “The Constitutional Money Act,” gold and silver would be accepted as legal tender in physical or electronic form, and would be receivable in payment of all debts contracted for in the state of Missouri.

blog.tenthamendmentcenter.com

 

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Update:

Arizona Bill Would Create Gold and Silver-Backed Transactional Currency

An Arizona Senate bill aims to create a state-backed transactional currency supported entirely by gold and silver, along with a state-operated bullion depository.

goldseek.com

Update:

Arizona Senate Passes Bill for 100% Gold and Silver-Backed Currency and Bullion Depository | Tenth Amendment Center

The Arizona Senate has approved a bill to establish a 100% gold and silver-backed currency recognized as legal tender, supported by a state-run bullion depository.

blog.tenthamendmentcenter.com

 

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Update.

Idaho Constitutional Money Act Would Recognize Gold and Silver as Legal Tender | Tenth Amendment Center

Under the Idaho Constitutional Money Act of 2025, gold and silver coins and specie minted domestically would be recognized as legal tender in the state and would be "accepted for the satisfaction of debts under the laws of the state of Idaho or of the United States."

blog.tenthamendmentcenter.com

Update.

Idaho Eliminates Income Taxes on Gold and Silver

Idaho is now the 14th state without income taxes on gold and silver, following Alabama and Nebraska which enacted similar exemptions last year.

goldseek.com

 

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To the Governor: Idaho Passes Bill to Recognize Gold and Silver as Legal Tender | Tenth Amendment Center

Under the Idaho Constitutional Money Act of 2025, gold and silver coins and “specie” minted domestically would be recognized as legal tender in the state and would be “accepted for the satisfaction of debts under the laws of the state of Idaho or of the United States.”

blog.tenthamendmentcenter.com

 

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(Frankfort, Kentucky) -- In a high-stakes showdown with Gov. Andy Beshear over a gold and silver sales tax exemption, the Kentucky legislature today deemed his attempted line-item veto as an illegal act -- and directed the Secretary of State to enroll the exemption into law.

This action makes the Bluegrass State the 45th state in the nation to enact this sound money policy – and the second this year.

After Illegal Veto, Kentucky Becomes 45th State to End Sales Taxes on Gold and Silver

In a high-stakes showdown with Gov. Andy Beshear over a gold and silver sales tax exemption, the Kentucky legislature today deemed his attempted line-item veto as an illegal act -- and directed the Secretary of State to enroll the exemption into law.

www.soundmoneydefense.org

Sal chimes in



Was @gringott involved?

To the Governor: Kentucky Bill Would Reinstate Vetoed Sales Tax Exemption on Gold and Silver | Tenth Amendment Center

Rep. TJ Roberts, along with a large coalition of cosponsors, filed House Bill 2 (HB2) to end collection of the tax and to provide a legal process for those charged the tax after its repeal to sue in state circuit court for a refund with interest, along with damages. This would set the stage for...

blog.tenthamendmentcenter.com

 

[pmbug]

 

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[Fatrat]

If they lift the tax on purchases under $500, that would also be nice...

 

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States Battle to Restore Gold and Silver

Over 60 pro-sound money bills were introduced across 27 states—meaning more than half the nation actively considered legislation to reduce or eliminate sales taxes, capital gains taxes, and other regulatory burdens on precious metals.

goldseek.com

 

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Oklahoma lawmakers ponder state gold and silver depository​

What Oklahoman doesn’t long for a state-operated Fort Knox to store their gold and silver bullion?

OK, probably not that many. But also maybe more than the average person might think.

Surveys suggest that 10% to 12% of American adults own gold or silver. To what extent Oklahoma fits the profile is unknown, but it is among a wave of mostly conservative states considering state-owned bullion depositories that issue debit cards allowing depositors to draw against the cash value of their precious metals.

At least two such bills have been filed for the upcoming session: Senate Bill 1351 by Sen. David Bullard, R-Durant, and SB 1507 by Sen. Shane Jett, R-Shawnee.

More:

Oklahoma lawmakers ponder state gold and silver depository

Similar bills filed in recent years have gone mostly nowhere, but there does seem to be something of a national push to get states into the bullion business.

tulsaworld.com

Oklahoma House Passes Bill to Expand Gold and Silver as Legal Tender | Tenth Amendment Center

The Oklahoma House passed two bills to significantly expand the types of gold and silver recognized as legal tender in the state, and to establish a 100% gold and silver-backed transactional currency supported by a bullion depository.

blog.tenthamendmentcenter.com

 

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To the Governor: Kentucky Bill Would Reinstate Vetoed Sales Tax Exemption on Gold and Silver | Tenth Amendment Center

Rep. TJ Roberts, along with a large coalition of cosponsors, filed House Bill 2 (HB2) to end collection of the tax and to provide a legal process for those charged the tax after its repeal to sue in state circuit court for a refund with interest, along with damages. This would set the stage for...

blog.tenthamendmentcenter.com

Update.

Kentucky Governor Vetoes Gold Bill, Legislature Expected to Override

Slapping smalltime savers in the face for the second time in 12 months, Kentucky Gov. Andy Beshear has again vetoed a bill that would end sales taxes on purchases of precious metals.

www.soundmoneydefense.org

 

[searcher]

^^^^^

 

[searcher]

^^^^^^^

Three Kentucky Citizens and America’s Top Precious Metals Retailer Sue Gov. Andy Beshear for Illegal Sales Tax Seizures

Three Kentucky taxpayers and one of America’s largest precious metals dealers today filed a class-action lawsuit against Governor Andrew Beshear for his illegal sales tax collections in connection with retail purchases of physical gold and silver.

www.soundmoneydefense.org

 

[searcher]

Update.

Alabama Senate Unanimously Passes Bill to Recognize Gold and Silver as Legal Tender | Tenth Amendment Center

Under the Alabama Legal Tender Act, “any refined gold or silver bullion, specie, or coin that has been stamped, marked, or imprinted with its weight and purity” would be recognized as legal tender in the state.

blog.tenthamendmentcenter.com

Update

To the Governor: Alabama Bill Would Recognize Gold and Silver as Legal Tender | Tenth Amendment Center

With a unanimous vote in both chambers, the Alabama Legislature has sent a bill to the governor’s desk that would formally recognize gold and silver as legal tender in the state. If signed into law, the measure would take a crucial step toward undermining the Federal Reserve’s monopoly by...

blog.tenthamendmentcenter.com

 

[pmbug]

I (@soundmoneydef ) was invited to the ceremonial bill signing in Frankfort, Kentucky for @realTJRoberts's House Bill 2. This bill finally ends sales tax on gold and silver, and it encourages taxpayers to sue Gov. Andy Beshear and his departments for significant penalties due to wrongful taxation.

This was in response to Beshear instructing his departments to keep collecting a tax on sound money, even after the legislature officially eliminated it in 2024.

As such, the governor was unavailable during the ceremony, and the Kentucky Secretary of State happily signed the bill into law instead.

 

[Fatrat]

Gov.. DeSantis, are you listening???

 

[pmbug]

Watch my testimony this morning before the Florida House Ways & Means Committee on HB999 – The Legal Tender Act.

This is about more than gold and silver—this is about economic justice, protecting purchasing power, and securing financial freedom for all Floridians.

We’re 3 committees down, 1 in the Senate & 2 in the House, 3 more to go. The bill has passed unanimously with bipartisan support every step of the way.

Florida is leading the nation on Sound Money.