Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Legal Tender Gold Silver topic
No spam. Unsubscribe anytime.
House State Affairs committee advances bill to recognize gold and silver as legal tender
Summary
The Idaho House State Affairs Committee voted to send House Bill 177 to the full House with a do-pass recommendation. The bill would allow willing buyers and sellers to use gold and silver in transactions; supporters described it as protecting state prerogatives, while a witness urged the committee to adopt the measure.
The Idaho House State Affairs Committee voted to send House Bill 177 to the full House with a do-pass recommendation after a short hearing and public testimony.
House Bill 177, introduced by Rep. Steve Miller, would permit transactions using gold and silver where both buyer and seller agree, and would allow domestic precious-metal production to be part of such exchanges. Supporters framed the bill as recognizing the constitutional status of precious metals and as an expansion of private contract freedom.
Rep. Steve Miller, the bill sponsor, told the committee that HB 177 is a “legal tender bill” that “legalizes silver and gold,” and that the change is limited to transactions where “a willing seller, a willing buyer” agree. Miller also said the bill would allow the state, entities and private parties to participate in such transactions only when they choose to do so.
Nicholas Kleinorth, policy director at the Idaho Freedom Foundation, testified in favor of the bill. He argued that precious metals preserve purchasing power and described practical barriers under current federal and tax rules. “Gold and silver are money recognized by the United States Constitution. It’s time for Idaho to exercise her rights as a state to recognize these precious metals as legal tender,” Kleinorth said. He also warned that, under current law, sellers could face taxes on the appreciated value of metal used in transactions.
Committee members asked practical questions about how large transactions would occur and whether demand exists for using metal in everyday commerce. Rep. Jaren Crane (District 12) asked whether demand was growing; Kleinorth replied that he could not quantify demand but that privacy and concerns about federal policy had led some people to seek alternatives.
Rep. Alfieri moved to send HB 177 to the House floor with a do-pass recommendation. The committee approved the motion by voice vote; no roll-call tally was recorded in the hearing minutes distributed at the meeting.
The bill now moves to the full Idaho House for further consideration.
