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Arizona lawmakers pass bill making silver, gold legal tender

The Arizona Senate on Tuesday approved a measure to make gold and silver legal currency in the state, in a response to what backers said was a lack of confidence in the international monetary system.

The legislation cleared the Republican-controlled Senate by an 18-10 vote after being approved by the state House earlier this month. It now goes to Republican Governor Jan Brewer, who has not indicated if she will sign it into law or veto it.

The bill calls for Arizona to make gold and silver coins and bullion legal tender beginning in mid-2014, joining existing U.S. currency issued by the federal government.

If signed into law, Arizona would become the second state in the nation to establish these precious metals as legal tender. Utah approved such legislation in 2011.


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Is it going to have a

Is it going to have a subjective value? I can't see it being fair if people consider a Morgan dollar (0.77 oz. of silver content) to have more purchasing power than a silver eagle.

Please come join my forum if you're not a trendy and agree with my points of view.