Arizona would become the second state in the nation to recognize gold and silver as legal tender if the Arizona House joins the state Senate in approving the legislation.
According to
Mineweb, The House Financial Institutions Committee Monday approved the legislation, sending it to the full House for consideration. Passage would place Arizona alongside Utah in recognizing gold and silver as legal tender.
Once signed by Gov. Jan Brewer, the new law would take effect in 2014.
Similar measures have also been introduced in Virginia, South Dakota, and Indiana. But all have failed to advance or have been voted down.
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