Silver - Idaho's New Currency?

Silver as an Idaho Currency

In an effort to attempt to bring some potential business and jobs to Idaho, state representatives have introduced a bill which would allow silver to be used a currency in the state, being produced in the form of medallions.

Rep. Phil Hart proposed the bill which was unanimously agreed to be introduced by the Idaho House State Affairs Committee.

The new silver medallions could also be used to pay state taxes.

A similar bill was introduced by Hart in 2009 but didn't go anywhere. Now that the recession continues on, the lawmakers in the state are looking at ways to help get their economy going.

The idea of introducing a bill which would include silver as a currency is fantastic. I wonder what will happen when the silver is far more valuable then the U.S. dollar in the state? That will be interesting; not if, but when it happens. Of course that assumes the mining takes place and the bill voted for approval.

One thing that's unfortunate is the need to offer property- and income-tax incentives to companies agreeing to launch a silver-processing business in the state.

But that's a secondary concern when taking into account the fantastic implication of silver being used as a currency again.

Silver as an Idaho Currency