March 21, 2013
Arizona could soon become the second U.S. state to recognize gold and silver as legal tender if the Arizona House approves SB 1439.
The bill has already won the approval of Arizona’s State Senate and the Arizona House Financial Institutions Committee which voted the legislation out of committee on a 4-2 vote Monday. The measure now goes to a vote of the Arizona House.
Thus far, only the State of Utah has officially recognized gold and silver as legal tender, (See: Gold, silver coins now officially legal tender in Utah) although the issue has been under consideration this year in four states including Arizona. The Arizona bill defines legal tender as a mode of paying debts and taxes.