Gold, Silver Now Legal Tender in Arizona, Reports Gold Coin

April 12, 2013 - PRLog -- Over a dozen U.S. states are in the process of either drafting or lobbying for bills that would make gold and silver legal tender, as lawmakers in Arizona passed such a law in that state on Monday. Fear over an economic collapse in the United States and what many conservatives have called the “imminent" hyperinflation of the dollar has caused many lawmakers and American households to demand a return to the gold standard, which backs U.S. currency with physical gold. Opponents of the new law claim that gold is a barbaric relic that has no place in modern monetary policy, but Arizonans seem to disagree. “This is the type of currency we have had over the history of mankind,” Arizona state Republican Representative Steve Smith said.

According to the Daily Mail (UK), the Arizona bill advanced with a 4-2 vote by a House committee on Monday, and the Republican-led Senate approved the bill with a 17-11 vote along party lines. The new law classifies gold and silver as legal currency that should not be subject to tax or regulation as property.

In 2011, Utah became the first state to officially classify gold and silver coins as currency. Lawmakers in Colorado, Idaho, Kansas, Minnesota, North Carolina, South Carolina and other states have tried or are trying to pass similar laws in those states. Many individual U.S. citizens have purchased precious metals during the last decade as a means to combat the declining value of the dollar. At the time of this writing gold is selling for $1,564.60 per ounce on the COMEX.

Gold Coin (GoldCoin.net) is America’s Gold Coin Superstore with over two decades of experience advising household investors on smart physical gold and silver investments and gold coin IRA and 401k plans. They buy and sell all types of gold, silver and platinum coins and offer free delivery directly to your door. For more information or a free “Gold Coin Starter Kit,” visit http://www.goldcoin.net or call 1-800-425-5672 today.