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Bill

HB 1049

Relating to the issuance of gold and silver specie and the establishment of a currency based on gold and silver; authorizing a fee.

89th Legislature (2025) Introduced by Alma Allen and 79 co-sponsors

Texas would mint gold and silver coins as legal tender, establishing a precious metals-backed currency system outside federal monetary control.

Referred to State Affairs
#business&commerce--general(i0050) #coins&preciousmetals(s0013) #comptrollerofpublicaccounts(v2608) #currency&currencyexchange(s0335) #financial--general(i0365) #stateagencies #boards&commissions(i0749) #texasbulliondepository #officeofthecomptroller(v1028)
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Bill Summary · HB 1049

Legislative bill overview

HB 1049 proposes authorizing Texas to issue gold and silver coins as legal tender and potentially establish a currency system backed by precious metals. The bill would allow the state to collect fees associated with minting and issuing these specie coins alongside existing U.S. currency systems.

Why is this important

This reflects growing interest among some policymakers in alternative monetary systems outside federal control, particularly in response to inflation concerns and distrust of fiat currency. If enacted, Texas could become the first state to formally issue its own metal-backed currency since the Civil War era, creating legal and economic complications with federal monetary policy and interstate commerce.

Potential points of contention

  • Federal authority conflict: The U.S. Constitution grants Congress exclusive power to coin money and regulate currency; Texas creating competing legal tender directly challenges this federal authority and could trigger constitutional legal challenges
  • Practical implementation challenges: Establishing conversion rates, managing precious metals reserves, preventing hoarding/speculation, and integrating a parallel currency system with modern banking infrastructure presents significant logistical hurdles
  • Economic feasibility: A metal-backed currency would constrain state spending flexibility, potentially limit economic growth, and create accounting complexities without clear evidence of macroeconomic benefits in a modern economy

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

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