Pinball Preparedness
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States that accept Gold and Silver as legal tender.
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States that accept Gold and Silver as legal tender.
By a unanimous vote on March 8, the West Virginia Legislature approved Senate Bill 502, originally introduced by Sen. Craig Blaire (R-Martinsburg), which called for the exemption of taxation on sales of investment metal bullion and investment coins. On March 27, West Virginia Gov. Jim Justice signed the bill into law. The law went into effect on July 1, 2019.
In 2013, the Wyoming Legal Tender Act was defeated in a 5-4 vote. It was defeated again in 2015. The bill sought legal tender status for US-minted gold and silver coins.
Utah became the first state declaring US-minted gold and silver coins as legal tender. The Utah Legal Tender Act was passed on March 10, 2011, setting the stage for other states to pursue similar legislation.
Two bills declaring legal tender status for gold and silver coins were vetoed despite having passed the state legislature by a large margin. Governor Jan Brewer vetoed S.B.1439 in 2013, and Governor Doug Ducey vetoed a similar bill in 2015.
In 2013, the House Committee on Taxation passed a bill declaring both the legal tender and tax-exempt status of US-minted coins.
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.
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.
In 2013, Senate Bill 99 was introduced to declare US-minted gold and silver coins as legal tender and tax-exempt.
Senate Bill 98, an act that calls for an income tax deduction for capital gains from the exchange of gold and silver, is currently up for consideration. Similar acts failed—once in 2013, and twice in 2014.
H.B. 682 was passed with overwhelming support, making Louisiana the second state to eliminate sales tax for gold and silver currency and bullion. Introduced by Rep. Paul Hollis, H.B. 682 was signed into law by Governor Bobby Jindal.
We are waiting to see the outcome of Tennessee’s SB0350. This bill calls for the sales tax exemption of gold and silver coins.
The South Carolina House of Representatives passed a bill on April 11, 2013, declaring gold and silver legal tender.
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9 Replies
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Good to know.. thanks for sharing!
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Yeah, I have been looking ahead to find ways to pay taxes when the dollar is worth zero. It seems the next event on the horizon is chaos created to force us onto the digital dollar..
I am asking myself, if there is chaos, how do i prepare for that?
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This reply was modified 1 year, 8 months ago by MartHale7.
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This reply was modified 1 year, 8 months ago by
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AR also now https://www.youtube.com/watch?v=q8x0DXNE-eo
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Yes, I subscribe to that channel. Love how level headed Travis is.
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YES GOOD SHOW ,might look into UMPA .org to👍
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I prepared in metals to possibly pay the mortgage, but I guess I have to jump through hoops because NY, again, is one of those states. . .
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New York city , what are you doing there lol😬
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Not the city, Long Island, my husband grew up here.
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😬
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