Constitutional Tender News Today

A bill filed in the Oklahoma Senate would set the stage for Oklahoma residents to make everyday purchases using gold and silver stored in the Texas State Bullion Depository. The passage of this legislation would facilitate the everyday use of gold and silver in financial transactions in Oklahoma and set the stage to undermine the Federal Reserve’s monopoly on money.

A bill filed in the Oklahoma House would eliminate state capital gains taxes on gold and silver specie, and clarify the definition of gold and silver as legal tender in the state.

In 2014, Oklahoma took the first step and declared Gold and silver coins issued by the United States government are legal tender in the State of Oklahoma. That bill also expanded the sales tax exemption on gold and silver. SB1507 would improve and clarify the definition of specie legal tender.

This would not only create a safe place to store precious metals; it also has the potential to facilitate the everyday use of gold and silver in financial transactions in Oklahoma and set the stage to undermine the Federal Reserve’s monopoly on money.

The legislation would establish "specie" as legal tender in the state, making it receivable in payment of all public and private debts contracted for in the state of Montana.

Under the proposed law, "specie coins" issued by the U.S. government or any other specie that a court of competent jurisdiction designates would be legal tender in the state of Kansas and recognized as a medium of exchange for the payment of debts and taxes.

Practically speaking, this would allow Tennesseans to use gold or silver coins as money rather than just as mere investment vehicles. In effect, it would put gold and silver on the same footing as Federal Reserve notes.

A bill filed in the Oklahoma Senate would establish a state bullion depository. This would not only create a safe place to store precious metals; it also has the potential to facilitate the everyday use of gold and silver in financial transactions in Oklahoma and set the stage to undermine the Federal Reserve’s monopoly on money

Today in history, the Coinage Act of 1792 was passed. It was the first attempt, under the current Constitution, to establish a coinage system for the United States. The coins were based on a decimal system, championed by Thomas Jefferson and Robert Morris in the 1780s. In a report titled “Notes on the Establishment of

The legislation would exempt precious metal bullion from the state sales tax. The bill defines precious metals bullion as “coins, bars, or rounds, minted primarily of refined gold or silver, that are: Marked and valued by their weight, purity, and content; or minted by a government authority”