Virginia to Consider Minting Its Own Coins

House agrees to spend $17K on a special panel
By John Johnson,  Newser Staff
Posted Feb 5, 2013 12:19 PM CST

(Newser) – Virginia is apparently for haters of the Federal Reserve: One state legislator wants the state to mint its own coins in case the US dollar collapses. It may sound pie-in-the-sky, but Virginia's House of Delegates agreed on Monday to set up a $17,000 panel to explore the move. The Virginian-Pilot sees the measure by Republican Bob Marshall as a "conservative shout-out," but Marshall insists he's serious.

"We can’t mint money, but we can mint gold and silver coins," he explained previously, according to NBC News. "It sounds like a small difference, but it is a difference legally." States can't actually "coin money" per the Constitution, but they are permitted to make "gold and silver Coin a Tender in Payment of Debts." Marshall thinks that line, along with some 19th-century Supreme Court decisions, clear the way for a Virginia coin, reports the Washington Post. What's more, Virginia isn't alone in considering an alternative currency, reports CNN. (In other US currency news, America's most fascinating nickel is set to fetch millions.)

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