Arizona closer to allowing privately minted gold, silver coins as legal tender - East Valley Tribune: Business

Arizona closer to allowing privately minted gold, silver coins as legal tender

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Posted: Tuesday, March 19, 2013 8:45 am | Updated: 3:49 pm, Tue Mar 26, 2013.

The state took another step Monday to allow privately minted gold and silver coins to be considered legal tender in Arizona.

Nothing in SB 1439 would require private merchants to accept these coins. But proponents told members of the House Committee on Financial Institutions that this would provide a necessary backup if the value of U.S. currency became so inflated as to be useless.

Utah has adopted similar legislation. The measure, which already has been approved by the Senate, now goes to the full House.

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