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13 States Now Considering Gold and Silver as Money

3K views 13 replies 13 participants last post by  Mbowhunter 
#1 ·
#9 ·
While this may be a "perennial" posting, the takeaway for me is that some states' see the handwriting on the wall and want to preserve some form of economic viability. Just because Utah encourages its citizens to deposit their PMs in a vault doesn't mean the other states will do the same and issue debit cards.

The 8th paragraph lists the states: "Other states considering legislation to make gold bullion and silver bullion legal tender are Montana, Colorado, Idaho, Indiana, New Hampshire, Georgia, Washington, Minnesota, Tennessee, and Virginia."

Since legislation in those states has not been finalized, the site cannot say how they will implement using PMs as currency. If Tennessee does not follow Utah with putting one's PMs in a vault, but will accept PMs for property taxes, I'll be for it.
 
#13 ·
It's not like they are asking you to put your entire PM collection in their vault just to perform some casual purchases. Just enough to cover roughly what you would be buying at the moment.

The main thing I wonder about if a seller preferred to be paid in PMs over fiat, you would think he might reprice the item somewhat more favorably in order to be paid in PM. Especially if he was accummulating. I would prefer to give him paper if there was no price difference. My view is somewhat prejudiced on this aspect.
 
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