On February 19, 2025, the Alabama Legislature introduced Senate Bill 130, known as the Alabama...
West Virginia Considers Gold and Silver as Legal Tender
West Virginia legislators have introduced multiple bills aiming to recognize gold and silver as legal tender within the state. House Bill 4342 (HB4342) sought to establish the "Legal Tender Act," designating gold and silver coins issued by the federal government as legal tender in West Virginia. This bill also proposed nonrefundable tax credits for capital gains arising from exchanging gold and silver for other forms of legal tender. It exempted such exchanges from sales and use taxes.
Similarly, Senate Bill 749 (SB749) and Senate Bill 843 (SB843) aimed to recognize gold and silver bullion and specie as legal tender. These bills proposed the establishment of the West Virginia Bullion Depository, authorized to issue transactional currency backed by gold and silver. The introduction of these bills reflects a legislative effort to provide West Virginians with alternative currency options and promote financial stability through the use of precious metals.
