Arizona Panel OKs Gold, Silver as Legal Tender – Tucson.com

2/5/2015 – PHOENIX — Calling it a “constitutionally protected right,” a House panel voted Wednesday to allow — but not require — the state and businesses here to accept gold and silver coins as legal tender.

Rep. Mark Finchem, R-Oro Valley, said the problem with a system based solely on federal reserve notes is that it is subject to inflation. Put simply, the buying power of each dollar decreases over time.

He said HB 2173 protects against that.

“When we have a fiat currency that is continually bouncing up and down relative to the price of oil and other market conditions, we are at risk,” he said…read more

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