Gold, silver currency bill fails in Colo.

By: Associated Press Email
By: Associated Press Email

DENVER (AP) -- Senate Democrats rejected a Republican attempt to legalize gold and silver coins as usable currency amid fears about the nation's financial stability.

Democrats voted down the proposal Friday.

Republican Sen. Kent Lambert says the goal of his bill was to give consumers the option to trade in U.S. minted gold and silver if the value of the dollar falls. Gold and silver coins retain their face value over time even if the value of the coins' precious metals rises. Lambert emphasized that the legislation would be optional.

Democratic Sen. John Morse says the legislation would result in a "record-keeping nightmare." Currently, people who want to spend gold and silver coins must convert them to paper dollars first.

Utah legalized gold and silver as a currency option last year.

(COPYRIGHT 2012 BY THE ASSOCIATED PRESS. ALL RIGHTS RESERVED.)


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  • by Anonymous on Mar 3, 2012 at 10:54 AM
    Well, I buy silver eagles, they are legally minted currency, face value is a dollar, commodity value is around 33 bucks. I am quite sure since it was minted by the mint that it is legal tender, but only worth a buck as legal tender, they should at least up it to a 30 dollar silver piece.
  • by John Location: Grand Junction on Mar 2, 2012 at 11:54 PM
    This bill was meaningless anyway and there's no reason to get upset over its failure to pass. The only thing this bill would have done is make it legal to pay your taxes and govt owned utilities with precious metals. If paper money, backed only by faith, should become seriously devalued, businesses and citizens will be more than happy to to use gold and silver as currency amongst themselves. The private sector does not need a bill giving them permission from the govt to use precious metals in their daily transactions. Besides...who in their right mind would want to pay the state govt with precious metals? Pay them with the worthless paper that'll be no better than monopoly money. The only thing the state govt is doing is to take themselves out of the equation because I'd bet that most precious metal transactions would never hit the books for tax collecting.
    • reply
      by N on Mar 5, 2012 at 08:51 AM in reply to John
      Exactly. The government can not tell a private entity, like a business, what sort of currency they have to use in private transactions. If the owner of the local burger place wants to accept live chickens as a form of payment, he has that right.
  • by Prophet on Mar 2, 2012 at 02:32 PM
    As the printing press continues to roll.
  • by Anonymous on Mar 2, 2012 at 01:05 PM
    This is the beginning a 2nd Civil war that is looming. God help us all
    • reply
      by Anonymous on Mar 2, 2012 at 02:15 PM in reply to
      Comments like this are amusing. There will be no war. While the common man is thinking about breaking out his checkerboard, this fascist dictatorship is 20 moves ahead on some multidimensional star trek type chess. Let me give you one example- Salazar shuts off water to farms in central California to save some fish, farmers can't pay their mortgage, banks owned by senators and congresswomans husbands, flush with taxpayer bailouts pick up our food supply for pennies on the dollar. We now have finestein and pelosi controlling our food supply like medevial queens or feudal lords. What can you do? File a complaint? With who, some gov drone making six figures who is very happy with the status quo? Sorry, no. Protest? Even here in little ol gj Colorado our law enforcemt is equipped with armored personal tanks and predator drones. This experiment at freedom (USA) proved one thing. Humans are stupid, lazy, and need to be led.
  • by LBJ on Mar 2, 2012 at 12:58 PM
    LBJ (D) Texas, said in 1965: do not hoard our silver currency. The US will not debase our money supply. That money is now worth 25 or so times face value.
  • by ApocalypseNow Location: Colorado on Mar 2, 2012 at 12:58 PM
    The modern Democratic Party has always had a Marxist/Socialist agenda; if we needed proof, well, here it is, folks. I, for one, am tired of everything I purchase with the Fed's funny money becoming collateral to their debt. LET'S VOTE EVERYONE OF THESE BOZOS OUT OF OFFICE!
  • by Not Wrong on Mar 2, 2012 at 12:36 PM
    You can never admit that you or your party has made a mistake. (If he thinks the bookkeeping problem will be bad, imagine the eating problem.)
  • by Dave Location: grand junction on Mar 2, 2012 at 12:24 PM
    I for one put my faith in worthless paper, backed by nothing. The biggest mistake we ever made was getting off the gold and the silver standard. At least then, a dollar was worth a dollar of gold or silver, not just worthless paper.
  • by Keynes on Mar 2, 2012 at 12:04 PM
    As the federal reserve banknote devalues to nothing our leaders have bonded the citizens to its death spiral. Thanks guys. What makes them think this incarnation of fiat currency will be the only one out of thousands that survives? What is an oz of gold/silver when measured in other attempts at the dollar? Like Greenbacks or Continentals? Infinity. But this time is different, right?
    • reply
      by ApocalypseNow on Mar 2, 2012 at 01:06 PM in reply to Keynes
      We are not powerless to change things here...rather than sit around complaining about our inept-at-best representatives, we can do something about it. VOTE THESE CRIMINALS OUT OF OFFICE! And don't give me that nonsense that our votes don't count!
      • reply
        by Honeypot story on Mar 2, 2012 at 01:24 PM in reply to ApocalypseNow
        Perhaps you should do some research. I suggest starting with the history of diebold (vote counting machines). Their connections with the cia, and the felon drug runners that managed diebold. I also recall an interview with a family of five on good morning amerika. They all voted for a specific guy. But their votes were never counted. The counties in NH are very small so their votes would have been easy to see. There were only 20 votes for the entire county.
        • reply
          by Guest on Mar 3, 2012 at 01:31 AM in reply to Honeypot story
          Bingo! That is the problem. An agency incapable of registering a brand new vehicle with a M.S.O is not capable of running a proper accurate election. The fix is already in.
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