New Minn. bill puts premium on gold, silver

Have a stash of gold and silver coins? A Minnesota lawmaker wants to recognize them as legal tender in the state.

First-term Rep. Kurt Bills introduced legislation Thursday to give the precious metals official standing in the state. The Republican's bill also sets up a special committee to determine whether Minnesota should adopt an alternative currency.

Both ideas have popped up in states from North Carolina to Idaho as a nod to sovereignty and a protest to Federal Reserve monetary policy.

Even if the gold-and-silver bill became law, standard currency would still be permitted in Minnesota transactions.

The bill hasn't been scheduled for a hearing as the session winds toward adjournment so it is unlikely to move ahead this year.

(Copyright 2011 by The Associated Press. All Rights Reserved.)