While any state can pass a law declaring gold and silver as legal tender, no state government has yet to figure out how such a system will actually operate from day to day.
by Dorothy Kosich, MineWeb.com
Despite a 2011 state law declaring gold and silver as “legal tender,” the government of the State of Utah is still not prepared to actually accept gold and silver payments.
And, any other state– which adopts model legislation for a Legal Tender Act authorizing coin or bullion having gold or silver coin as a legitimate medium of exchange for the payment of debts and taxes–may be in for a long slog ahead when it comes to actual implementation.
The U.S. government-issued coin or bullion having gold or silver content is referred as “Specie” for legal tender purposes.
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