Bill would allow Texans use gold and silver as currency
AUSTIN (Dallas Morning News) — It’s not about the Benjamins but the bullion for one Tarrant County lawmaker.
Texans would be able to pay with gold and silver pieces minted by the federal government as legal tender under a bill offered by Sen. Konni Burton, R-Colleyville.
Burton said the option has gained appeal as the dollar’s purchasing power has declined dramatically over the past four decades.
“Federal monetary polices, such as persistent deficit spending, lead Texans who save their money in U.S. dollars subject to long-term devaluation of that money,” Burton said at a Senate committee hearing Thursday.
She stressed it would not require individuals, businesses or even the state to accept the precious metals as currency.
However, U.S. gold and silver pieces already are legal tender across the nation.