Alabama Senate Approves Bill Allowing Gold, Silver as Legal Tender

The bill does not require anyone to accept or offer silver or gold.

SEATTLE (Scrap Monster): The Alabama Senate passed a bill Tuesday allowing people to use gold and silver to be used in monetary transactions.

SB 130, sponsored by Sen. Tim Melson, R-Florence, would make refined gold and silver bullion, specie or coins that have been stamped, marked, or imprinted with their weight and purity a legal tender in Alabama.

“This bill simply allows you to pay with gold or silver — any debt. It doesn’t require anybody to accept it or use it,” Melson said.

The bill does not require anyone to accept or offer silver or gold.

Utah in 2011 passed a law allowing people to use US-minted gold and silver coins as legal tender. Louisiana passed a similar law in 2013 and Texas in 2017.

The bill passed 31-0 and goes to the House.

Courtesy: www.alabamareflector.com