Sound Money Revolution: 7 States Just Took Bold Action on Gold and Silver!

This year, the battle for sound money—real, tangible value like gold and silver—is making history in the United States. With the collapse of trust in the dollar, inflation hitting record highs, and the government digging deeper into our wallets, it's no wonder people are ready for change. And that’s what’s happening: seven states have now passed laws that help people buy and own gold and silver without the tax burdens that kept many from considering it in the first place.

These state wins go beyond just dollars and cents. They’re steps toward putting financial power back in the hands of Americans, rather than the Federal Reserve and the bureaucrats who see inflation as no big deal. Here’s how 2024’s legislation sets us on the path toward sound money and what it means for your financial security.

Sales Taxes on Gold and Silver Near Extinction

Two states took significant steps this year to eliminate the sales tax on gold and silver purchases, tearing down a major roadblock that discouraged people from swapping their depreciating dollars for something more solid. New Jersey and Wisconsin officially joined the ranks of states that now recognize gold and silver as a form of “constitutional money,” something we’ve had the right to use long before the Federal Reserve even existed.

In Wisconsin, where the journey to end this tax was years in the making, Governor Tony Evers signed Assembly Bill 29 into law, marking a victory that sound money advocates have been pushing for tirelessly. State Rep. Shae Sortwell, who sponsored the bill, rightly pointed out that this change frees Wisconsinites to use “a currency not subject to the whims and policies of the federal government,” protecting families from the Fed’s inflationary tactics.

New Jersey also wiped out its sales tax on gold and silver, with Senate Bill 721 passing unanimously—a rare sight in today’s political climate. But there’s a catch: New Jersey’s law has a clause that still taxes purchases under $1,000, hitting small-time savers hardest. Call it a “poor tax,” if you will, penalizing everyday Americans who try to make smaller, affordable investments in precious metals.

Income Tax Relief on Precious Metals: Alabama and Nebraska Lead the Way

While sales tax exemptions are an important step, income taxes on capital gains are just as restrictive. Why should Americans be taxed twice—first on buying gold or silver and again on any gains they make when they sell? Alabama and Nebraska took bold steps in 2024 to eliminate these unnecessary taxes on precious metals, marking a major win for individuals who believe in holding real assets, not just paper dollars.

In Alabama, Senate Bill 297, which removes the income tax on precious metals, sailed through with strong backing. State Rep. Jamie Kiel said it best when he declared, “Gold and silver are constitutional money. Point blank.” This victory gives Alabama residents greater freedom to invest in sound money without fearing punitive taxes on any appreciation in value.

Nebraska also got on board, passing Legislative Bill 1317, which ended taxes on gold and silver capital gains and even redefined “money” to specifically exclude any central bank digital currencies (CBDCs) the Fed might try to roll out. This is a strong statement from Nebraska lawmakers: they’re rejecting federal overreach and setting their own standards for sound money.

Utah and Louisiana Aim to Reestablish Gold as Money

In Utah, a new bill allows the state treasury to invest in physical gold, signaling a big shift toward treating precious metals as viable assets in state reserves. The Utah state treasurer now has the authority to hold a portion of budget reserves in gold and silver, a hedge against the dollar’s decline and a step that other states would do well to follow.

Louisiana went a step further, reaffirming gold and silver’s status as legal tender. While this law doesn’t have direct financial benefits, it’s a powerful statement of values, setting gold and silver apart as a recognized form of money in the state. Meanwhile, Idaho’s governor, unfortunately, vetoed a similar measure, denying Idahoans the chance to stabilize their reserves with real assets.

Protecting Existing Gains from Anti-Sound Money Attacks

With these wins, it’s tempting to think the battle for sound money is over. But every year, politicians still try to claw back the progress that’s been made, usually under the guise of “tax reform.” In Nebraska, for instance, lawmakers almost reversed their existing sales tax exemption on precious metals—an exemption that’s been in place for years. It was thanks to heavy grassroots pressure that this rollback was stopped in its tracks, proving once again that public advocacy matters.

Why This Matters Now

2024’s wave of sound money laws highlights a shift in how people—and states—view precious metals. Gold and silver aren’t just investments; they’re lifeboats in an ocean of inflation, fiat currency devaluation, and government control. With central banks considering digital currencies that could erode what little privacy we have left, holding physical gold and silver is more crucial than ever. These laws are giving Americans a real shot at financial independence, something we desperately need with debt and inflation climbing to unmanageable heights.

Conclusion: Protect Your Wealth with Real Money

Every one of these legislative wins reinforces that Americans are tired of seeing their dollars lose value day after day. Gold and silver are timeless, inflation-resistant, and—thanks to these new state laws—more accessible than ever. But don’t wait for every state to follow suit. Take charge of your own financial future by securing real, tangible assets that the Fed can’t just print into oblivion.

Take Action: Don’t leave your wealth to chance or to Washington’s policies. Download Bill Brocius’ eBook, “Seven Steps to Protect Yourself from Bank Failure,” and learn how to protect what you’ve worked so hard to earn. And subscribe to Dedollarize’s products for regular insights and updates on keeping your money safe from government overreach and fiat currency risks. Download Here