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Bill

Bill

SB 2002

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 Bryan Hughes

Texas would authorize issuing gold and silver coins as legal tender, creating a state-backed precious metals currency system alongside federal money.

Referred to Finance
#business&commerce--general(i0050) #coins&preciousmetals(s0013) #comptrollerofpublicaccounts(v2608) #currency&currencyexchange(s0335) #financial--general(i0365) #stateagencies #boards&commissions(i0749)
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Bill Summary · SB 2002

Legislative bill overview

SB 2002 would authorize Texas to issue gold and silver coins as legal tender and establish a currency system backed by precious metals. The bill would create a framework for state-issued specie and allow the state to charge fees related to this issuance and currency system.

Why is this important

This bill represents a significant departure from the federal monetary system and challenges the Federal Reserve's exclusive control over currency in Texas. If enacted, it could create parallel financial infrastructure and raise constitutional questions about state versus federal monetary authority, while potentially affecting how Texans conduct commerce and store value.

Potential points of contention

  • Federal authority conflict: The U.S. Constitution grants Congress exclusive power to coin money and regulate its value; a state currency system may violate this provision and face legal challenges
  • Monetary system stability: Precious metal-backed currencies operate differently than fiat systems; unclear how exchange rates, inflation control, and economic policy would function in a dual-currency environment
  • Practical implementation: Questions remain about transaction logistics, banking integration, taxation implications, and whether businesses would actually accept or prefer gold/silver specie over existing payment methods
  • Constitutional concerns: Federal law prohibits states from issuing their own money; the bill's legality is uncertain despite its framing as alternative currency

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

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