Utah officially makes gold and silver legal tender … No Cyprus for us.
Arizona could soon become the second U.S. state to recognize gold and silver as legal tender if the Arizona House approves SB 1439.
The bill has already won the approval of Arizona’s State Senate and the Arizona House Financial Institutions Committee which voted the legislation out of committee on a 4-2 vote Monday. The measure now goes to a vote of the Arizona House.
The measure would also mandate that coin or bullion containing gold or silver issued by the U.S. Government cannot be taxed as property since it is to be considered money.
The issue has been under consideration this year in four states including Arizona. The Arizona bill defines legal tender as a mode of paying debts and taxes.