VALUE OF GOLD With inflation, gold notes and cards find their way into America's wallet
In some ways the interest in gold currencies overlaps with the crypto currency movement, which is popular at least in part due to a desire for decentralized financial systems.
People are seeking more privacy as cash becomes less common and proposed central bank digital currencies risk giving some institutions more control over people’s finances than ever before.
Exact figures on how commonly gold is used as tender are not available as transactions are private.
Joe Cavatoni, regional CEO, USA, at the World Gold Council, said gold is more popular as an investment because it performs well during times of uncertainty, though state governments are also removing some barriers to its use as a currency.
Utah recognized gold and silver as legal tender in 2011, and Oklahoma and Arizona have followed.
States are increasingly lifting tax restrictions.
Jp Cortez, a policy director for the Sound Money Defense League, said that 41 states have wholly or partially exempted gold and silver from sales taxes, with another 5 considering legislation to do the same.
https://www.reuters.com/business/with-inflation-gold-notes-cards-find-their-way-into-americas-wallet-2022-04-27/