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Bill

HB 386

BANKS/BANKING: Establishes gold and silver as currency (OR INCREASE SG EX See Note)

2025 Regular Session Introduced by Raymond Crews and 6 co-sponsors

Louisiana bill would establish gold and silver as legal currency, conflicting with exclusive federal monetary authority and creating practical banking and commerce complications.

Becomes HB 695.
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WeVote Research Nonpartisan
Bill Summary · HB 386

Legislative bill overview

HB 386 would establish gold and silver as legal currency in Louisiana, allowing them to be used as a medium of exchange alongside or in place of federal currency. The bill appears designed to create an alternative monetary system at the state level, though the exact mechanisms and scope remain unclear from the action history provided.

Why is this important

This proposal directly challenges the federal government's monetary authority, which is constitutionally exclusive under the Coinage Act. If enacted, it could create significant legal conflicts with federal law and complicate commerce, taxation, and banking operations. The real-world impact would depend entirely on implementation details—whether this is symbolic, voluntary, or mandatory for financial institutions.

Potential points of contention

  • Federal constitutional authority: The U.S. Constitution grants Congress exclusive power to coin money and regulate its value; a state cannot legally establish competing currency systems
  • Banking system integration: Unclear how traditional banks would handle gold/silver transactions, pricing mechanisms, storage, authentication, and conversion rates
  • Commerce complications: Practical questions about how prices would be set, tax collection, wage payments, and interstate commerce would function under a dual-currency system
  • Economic feasibility: Gold and silver supplies are limited and volatile in value, making them impractical as primary currency for a modern economy

Compiled from official sources — confirm details with the bill’s official record.

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