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.
Joining seven other states that have either passed or introduced legislation in favor of the metals, Louisiana, Utah, and Texas are now taking further steps toward establishing regulatory depositories to hold gold and silver.
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> 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. <
The United States made a major error when it stopped issuing 90% silver coins after 1964. Real silver was replaced by paper promises.
But I don’t see the value in states doing what you mentioned. Couldn’t that be done anyway? Let’s see you have a used car worth $3000. And I have $3000 in gold at that day’s price. There is nothing now to stop me from swapping my gold for your car.
Perhaps these new laws would force you (the car owner) to take the gold even if you don’t want to. If so, bad idea. It’s just another unnecessary law.