A new bill introduced in the Georgia Legislature — dubbed the Transactional Gold and Silver Act — is stirring fresh debate about the future of money in America. If passed, this measure would allow gold and silver to be used as legal tender in the state — a move that supporters argue could empower individuals, protect savings, and reintroduce constitutional money principles.
🪙 What the Bill Would Do
Georgia’s Transactional Gold and Silver Act would:
- Recognize gold and silver specie (physical gold or silver) as legal tender within the state — meaning it could be used for payments and debt settlement.
- Establish a state bullion depository to securely hold precious metals and support a specie-backed electronic payment system.
- Set rules for how gold and silver can be transferred electronically — similar in some respects to how dollar balances are moved today.
- Prohibit taxation on transactions involving gold and silver tender, effectively treating precious metals as money rather than mere commodities.
In essence, the bill seeks to give Georgians the option to transact directly in metals that have historically served as real money, rather than forcing reliance on fiat currency alone.
📊 The Logic Supporting the Shift
- Using gold and silver as legal tender hedges against inflation and currency devaluation — a long-standing concern as the federal monetary system has shifted away from gold backing.
- It expands monetary choice for citizens, allowing a competitive alternative to Federal Reserve notes.
- A state depository and electronic system could make metal-backed transactions more practical for everyday use, without requiring people to carry physical bars or coins.
This approach echoes a growing trend in state legislatures — with other states like Utah, Louisiana, Florida, Oklahoma, and Texas passing or considering similar legal tender recognitions — and builds on constitutional language that historically placed gold and silver at the heart of American money.
⚠️ Important Clarifications
It’s crucial to understand what this proposed law doesn’t do:
- It wouldn’t abolish the U.S. dollar or outlaw Federal Reserve notes. Those remain legal tender under federal law.
- It doesn’t force businesses to accept gold or silver — acceptance would be voluntary unless specific public debts are designated for payment in specie.
📌 Why This Matters Nationally
While Georgia’s proposal is a state-level initiative, it reflects broader themes in monetary policy that resonate with patriotic finance advocates:
- A pushback against fiat inflation risk and central bank dominance.
- Renewed interest in constitutional money principles, especially Article I, Section 10 of the U.S. Constitution.
Exploration of monetary sovereignty and resilience at the state level.
Want to learn more? Be sure to check out this article: https://www.usatoday.com/story/news/2026/01/30/georgia-bill-proposes-gold-as-legal-currency-heres-what-that-means/88415298007/
