Are there any other states with similar laws?
7/2/2025 10:48am
Yes, several other states in the U.S. have similar laws recognizing gold and silver as legal tender. As of the latest information, eight states have successfully enacted legislation recognizing gold and silver as legal tender. These states include:
1. **Utah**: Utah was the first state to recognize gold and silver as legal tender, doing so through the Utah Legal Tender Act enacted in 2011.
2. **Wyoming**: Wyoming followed suit with the Wyoming Legal Tender Act in 2018, which also recognizes gold and silver as legal tender.
3. **Oklahoma**: Oklahoma eliminated the tax on sales of precious metals in 2014, categorizing gold and silver as legal tender.
4. **Tennessee**: Tennessee has recognized gold and silver as legal tender, with the House in the state voting 98-0 in favor of the legislation.
5. **Arkansas**: Arkansas passed Bill 1718 recognizing gold and silver as legal tender.
6. **South Dakota**: South Dakota has considered legislation to recognize gold and silver as legal tender, although it has not yet been enacted.
7. **West Virginia**: West Virginia passed Senate Bill 502 in 2019, which provides tax exemptions on bullion.
8. **Florida**: Florida has not passed a law recognizing gold and silver as legal tender, but some businesses in the state have been accepting gold notes called “Goldbacks” as payment.
These states' laws reflect a growing trend of recognizing precious metals as a form of legal tender, offering citizens an alternative to fiat currency and a hedge against inflation and financial instability.