Silver as an investment

House backs privately minted coins as legal tender

Be prepared for the next great transfer of wealth. Buy physical silver and storable food. / By Howard Fischer / April 9, 2013

PHOENIX — State lawmakers are close to declaring privately minted gold and silver coins to be legal tender in Arizona.

Legislation approved by the state House on Monday would spell out that “legal tender” in Arizona consists not only of what Congress authorizes but also gold and silver coins issued by the federal government.

But the real heart of the measure says any coin or bullion having gold or silver — even those made by private mints — is also legal tender if approved by a court.

A version of the measure already has been approved by the Senate. That means only a final Senate vote is necessary before the measure goes to the governor.

Sen. Chester Crandell, R-Heber, acknowledged Monday that this legislation, by itself, will not mean Arizonans will suddenly start paying for their groceries and utility bills in gold and silver coins. In fact, the measure spells out that that no one can force anyone else to either pay a bill in these coins or to accept them as payment.


Thanks to BrotherJohnF