Individual US States push for gold and silver legalization

Welcome to the Precious Metals Bug Forums

Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more.

Why not register an account and join the discussions? When you register an account and log in, you may enjoy additional benefits including no Google ads, market data/charts, access to trade/barter with the community and much more. Registering an account is free - you have nothing to lose!

searcher said:
Update.

www.soundmoneydefense.org

Wyoming Senate Approves Bill to Hold $10 Million in Physical Gold

With an overwhelming majority, the Wyoming state senate has voted favorably on legislation that would establish a stockpile of gold for the Cowboy State.
www.soundmoneydefense.org www.soundmoneydefense.org
Click to expand...

Update

cowboystatedaily.com

Wyoming Closer To Using Gold And Silver As Legal Currency

Wyoming is No. 1 in the nation when it comes to sound money policy, a movement to return gold and silver as legal currency. Wyomingites also don’t have to…
cowboystatedaily.com cowboystatedaily.com
 
June 30, 2025 – Today, Connecticut Gov. Ned Lamont (D) signed House Bill 7287 into law which includes a provision removing the last remaining tax on purchases of gold, silver, platinum, and palladium bullion.
...
Connecticut had been one of only six states in the United States maintaining merely a partial sales tax exemption on purchases of precious metals. Connecticut’s regressive practice of taxing only purchases under $1,000 singled out small-time savers for a tax penalty that larger gold and silver purchases do not face.

By enacting HB 7287 with the sound money language intact, Connecticut has set an example for legislators in California, Florida, Massachusetts, New Jersey, and New York, where smaller-sized purchases (under $500, $1,000, or $2,000) of precious metals are still hit with sales taxes.

The Connecticut sales tax exemption on the monetary metals will take effect on July 1, 2027.

The measure also calls for the establishment, effective upon the bill’s signing, of a Connecticut precious metals working group to monitor (1) economic conditions, (2) inflation expectations, (3) precious metals prices and activities, including the market activities of leading commodities exchanges and bullion market associations, and (4) precious metals legislation proposed in or enacted by other states.

The working group will be made up of members of the General Assembly, the state treasurer, and any other individuals necessary to carry out the duties of the working group. Commencing in 2026 and annually thereafter, the working group is expected to submit a report summarizing the group’s findings, including any recommendations to improve the precious metals market in the state.
...
Including Connecticut, 46 U.S. states now fully or partially exempt gold and silver from the sales taxes as of this writing. That leaves 4 states and the District of Columbia as the primary jurisdictions that still harshly penalize citizens seeking to protect their savings against the serial devaluation of the Federal Reserve Note.

On July 1, 2025, Virginia and Maryland will reimpose sales tax on all purchases of precious metals in their states, and in January 2026, Washington will begin taxing metals as well. The Sound Money Defense League and Money Metals Exchange are already in communication with lawmakers in these three states to ensure legislation is introduced next year to restore the lost exemptions.
...
Click to expand...

More:
www.soundmoneydefense.org

Connecticut Ends All Taxes on Purchases of Gold and Silver

Today, Connecticut Gov. Ned Lamont (D) signed House Bill 7287 into law which includes a provision removing the last remaining tax on purchases of gold, silver, platinum, and palladium bullion.
www.soundmoneydefense.org www.soundmoneydefense.org
 

Are U.S. States Ditching the Dollar? Inside the Quiet Gold Revolt | JP Cortez​

Oct 1, 2025 Little by Little
Andy Schectman, CEO of Miles Franklin Precious Metals, speaks with Jp Cortez, Executive Director of the Sound Money Defense League, about the growing state-level revolt against the U.S. dollar and the push to restore gold and silver as real money.

Jp explains why nearly 70% of U.S. states are advancing pro-gold and silver legislation, and how Wyoming and Utah are building state gold reserves. He also breaks down federal efforts to audit America’s gold reserves, the new Silver Act, and the risks of financial surveillance in so-called “sound money” bills.

This conversation dives into the future of money, the role of sound money in protecting wealth, and whether states are quietly leading a monetary rebellion against fiat money.

In this episode of Little by Little:
  • 70% of U.S. states now considering pro-gold and silver legislation
  • Wyoming passes $10M gold reserve; Utah invests $180M
  • Why some states are reimposing taxes on precious metals
  • The push to audit America’s gold and refine coin-melt bars
  • The Silver Act and why silver shortages matter now
  • Florida’s “sound money” law
  • Risk of surveillance
  • Are states leading a quiet rebellion against the dollar?


50:54

00:00 Coming Up
01:19 Introduction Jp Cortez and the Sound Money Defense League
04:20 The Historical Context of America's Monetary System
05:13 State Legislation & the Push for Sound Money
08:35 Challenges & Controversies in Sound Money Legislation
18:17 The Role of Gold in the US Government's Balance Sheet
21:01 Florida's Controversial Sound Money Bill
24:35 Tax Implications on Precious Metals
24:43 Legislative Bills & Digital Systems
24:58 Privacy Concerns with Digital Transactions
25:49 Government Involvement in Monetary Systems
29:55 Generational Divide: Gold vs. Crypto
34:04 Federal Legislation & the Silver Act
38:30 Best Case Scenario for Gold & Silver
44:10 Legal Tender & the Future of Fiat Currencies
47:32 Gold Reserve Transparency Act
49:31 Conclusion & Final Thoughts
 
searcher said:
www.soundmoneydefense.org

Maryland and Washington State Impose Sales Taxes on Gold and Silver Bullion

While taxes on gold and silver may benefit governments by providing a modest revenue stream, it harms the citizens the government supposedly serves.
www.soundmoneydefense.org www.soundmoneydefense.org
Click to expand...

More on Maryland

Nothing to see. Can listen in one tab, play around the forum in a different tab.

How Maryland’s 6% Bullion Tax Sparked A Sound Money Uprising | Brett Stelfox LIVE​

Streamed live 11 hours ago
When a 6% bullion levy slammed into a 50-year coin shop, a sound money movement was born.
Brett Stelfox of Golden Eagle Coins joins Daniel Diaz to share how Maryland’s 6 % bullion sales tax caused an 80% collapse in sales, pushing loyal customers across state lines to Delaware and Pennsylvania, and how this sparked the birth of the Sound-Money Association of Maryland.


1:01:35
 
You must log in or register to reply here.
Back
Top Bottom