Arizona House Passes Bill Supporting Constitutional Tender

by Tenth Amendment Center
April 27, 2016

Yesterday, the Arizona House passed a bill that would help “legalize the Constitution” by defining gold and silver specie as legal tender and encouraging their use as currency.

Sen. David C. Farnsworth and Rep. Doug Coleman, along with seven cosponsors, introduced Senate Bill 1141 (SB1141) on Jan. 19. The legislation defines specie (gold or silver coin, bar or round) as constitutional legal tender to establish it for use in the marketplace as currency. It reads, in part, “Legal tender is money and is not subject to regulation as property other than money – meaning it would not be taxed at the state level.

The House passed an amended version of SB1141 by a 33-24 vote. The Senate previously passed it by a vote of 18-11. It will now have to go back to the Senate for concurrence with the amendments.

The amended language tightens the definition of “specie” to exclude coins or bars that make up some part of jewelry or that is valued based on historic or collectible significance.

1 Comment - what are your thoughts?

  • I Seigel says:

    Here’s a little background on the 2 geniuses in the AZ state legislature that are sponsoring this bill (from their bios):
    Sen David Farnsworth graduated from Mesa High School, and has an AA (Associate of Arts 2-year degree) from Mesa Community College.
    Rep Doug Coleman got a BA from AZ State Univ in Business, Office and Distributive Education, and a MA in Vocational Education from Northern AZ Univ.
    These are the 2 buffoons who think they understand economics and finance well enough to recommend the US going back to the gold standard (as does Lyin’ Ted). What makes them so qualified to understand the complexities of this fundamental change to our – and the world’s – financial system?

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