Tag Archives: United States

Silver – Alternative to Paper Money

These coins were photographed at Rocky Mountain Coin in Denver on Thursday, Feb. 16, 2012 The five coins on the left were minted over a hundred years ago and have a value of thousands of dollars because of their gold and silver content. The five coins on the right were minted in the last few years and are worth their face value $1 to $25. Worried that American money is not as good as gold, Colorado lawmakers are considering a bill to legalize gold and silver coins as currency. (AP Photo/Ed Andrieski)

Legislators in the United States are showing interest in introducing alternatives to paper money in their respective constituents. More than a dozen US states have stated interest in issuing an alternative currency, particularly the debut of gold and silver coins.

When Utah’s Governor Gary Herbert signed House Bill 317 approved silver coins as legal tender it inevitably eliminated the tax on profits on coins since they were looked upon as assets. Continue reading