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.)


KKCO firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKCO 11News.

powered by Disqus
KKCO NBC 11 News 2531 Blichmann Avenue Grand Junction, CO 81505 Station Phone: 970.243.1111 Business Fax: 970.243.1770 Newsroom Fax: 970.245.3793 News Tip & Contest Line: 970.255.8477
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 141212403 - nbc11news.com/a?a=141212403
Gray Television, Inc.