Texas has officially recognized gold and silver as legal tender

Some Texans are voicing doubts over a new law that recognizes gold and silver as legal tender in the state and calls for the creation of a transactional currency backed by the precious metals.

Governor Greg Abbott announced on X (formerly Twitter) Sunday that he had signed House Bill 1056 into law following its approval by both chambers of the Texas Legislature. The law, which is set to take effect on May 1, 2027, amends the state government code to allow gold and silver to be used in everyday transactions, with their value determined by the state comptroller at the time of exchange.