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Hawaii House Committee Passes Bill to Take Step Toward Treating Gold and Silver as Money


HONOLULU, Hawaii (Feb. 18, 2021) – Last week, a Hawaii House committee unanimously passed a bill that would repeal the excise tax on the sale of gold and silver bullion. The enactment of this legislation would eliminate one barrier to using gold and silver in everyday transactions, a foundational step for people to undermine the Federal Reserve’s monopoly on money.
Rep. Val Okimoto (R) and Rep. Dale Kobayashi (D) introduced House Bill 1184 (HB1184) on Jan. 26. 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” ....

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