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News Link • Currencies

Arizona lawmakers back gold, silver as currency

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PHOENIX - Arizona Republican lawmakers say privately minted gold and silver coins should be considered legal tender. The bill advanced in a 4-2 vote by a House committee Monday states that gold and silver is money and therefore shouldn't be subject to tax or regulation as property. Proponents say the value of the dollar is on the decline. Businesses wouldn't be required to accept gold or silver under the bill. Democrats oppose the measure. They say it would be a bureaucratic nightmare because businesses don't have the equipment to determine the value of gold and silver.

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