While proposing SB 12-137, a bill that would make precious metals legal tender, Colorado Senator Kent Lambert shows how the dollar loses half of its value every 4 years.
According to Article 1 Section 10 of the Constitution
No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility.
However, when was the last time you paid for anything in gold or silver? This table shows the current status of states that have passed or proposed laws to make gold and silver legal tender.
|Arizona||Passed in Senate April 2013 and the House on April 8, 2013. SB 1439, the Constitutional Tender Act, which allows businesses and the state government to accept payments in gold or silver was eventually vetoed by Governor Jan Brewer.
On February 14, 2014 a new bill (SB1096) passed the Senate by a vote of 18-12 and is awaiting a vote by the House.
|Colorado||Senate Bill 12-137 killed by Senate democrats in March 2012.|
|Georgia||Introduced February 17, 2009.|
|Idaho||Passed April 2012.|
|Indiana||Introduced January 2013.|
|Iowa||Cited in the news but cannot confirm.|
|Minnesota||Introduced May 2011.|
|Missouri||Passed April 2012.|
|Montana||Rejected by 20 Republicans and 32 Democrats in March 2011.|
|New Hampshire||Introduced January 2011.|
|North Carolina||Introduced March 2011.|
|Oklahoma||Passed in the state Senate on March 11, 2014 by a vote of 37 to 4. Senate Bill 862 (SB862) is now waiting to be voted on by the House.|
|South Carolina||Passed April 2012.|
|Tennessee||Introduced February 2011.|
|Utah||Passed March 2011.|
|Vermont||Introduced January 2013.|
|Virgina||Introduced January 2011.|
|Washington||Introduced January 2012.|
Updated April 9, 2013.