2025 Progress: HB 2464 to Charter a State Bank of West Virginia Holding Precious Metals

West Virginians are considering a major institutional shift with House Bill 2464, which proposes the creation of a State Bank of West Virginia. This new entity would act as the official custodian for bullion and specie, integrating precious metals directly into state financial infrastructure. The bank would oversee deposits, handling, and regulation of state-held gold and silver, enhancing transparency and control. While some supporters see this as a financially pragmatic move toward sound-money sovereignty, others raise caution about centralizing these functions within a government-backed institution. Regardless, the proposal marks a bold step in structuring how a state might manage tangible reserves.

UPDATE: House Bill 2464 died in the House Finance Committee