Connecticut

The Constitution State’s Golden Opportunity

Connecticut, the "Constitution State," has a legacy of innovation and wealth—from the Revolutionary War’s supply hub to the Gold Coast’s affluence today. Known for crafting the first written constitution in 1788, Connecticut has always been a pioneer. The Goldback—a voluntary, gold-based currency—fits this tradition, offering a modern twist on value and resilience. With its history of commerce, from Hartford’s insurance giants to Fairfield County’s proximity to Wall Street, Connecticut is primed to embrace gold as more than a relic. Let’s make the Nutmeg State a beacon for sound money.

Legislative Potential: A Path to Gold Transactions

Connecticut’s legislature can pave the way for gold to flow freely. Currently, gold and silver bullion face capital gains taxes under Connecticut General Statutes § 12-407, treating them as property, not currency. But change is brewing. In 2024, House Bill 5432 proposed exempting precious metals from sales tax, gaining bipartisan support before stalling. As of February 2025, advocates are reviving this effort, with a new bill in the works to eliminate both sales and capital gains taxes on gold—mirroring successes in Utah and Montana. If passed, this would align with Article I, Section 10 of the U.S. Constitution, easing Goldback use and making Connecticut a leader in the Northeast for sound money.

Economic Stability and State Pride

The Goldback brings practical benefits to Connecticut’s diverse economy. With denominations as low as 1/1000th of an ounce, it’s perfect for small transactions—from Mystic’s seaside shops to New Haven’s food stalls. In an era of inflation, its gold backing offers a hedge, appealing to Connecticut’s financially astute residents. Picture a Connecticut Goldback series featuring state icons: the Charter Oak, Mark Twain, or Long Island Sound. These notes would double as collectibles, boosting tourism and local pride. Businesses adopting Goldbacks could attract a niche market, while precious metal dealers gain from a tax-friendly shift. This is Connecticut’s chance to blend tradition with innovation.

Connecticut-Specific Goldback Designs

Here’s how Connecticut’s Goldback denominations could celebrate its significant people and places:

• 1 Goldback (1/1000 oz): Features the Charter Oak, the legendary tree that hid Connecticut’s 1662 charter from British seizure, symbolizing the state’s defiant spirit and constitutional roots.
• 5 Goldback (1/200 oz): Depicts Harriet Beecher Stowe in Hartford, her pen in hand, honoring the author of "Uncle Tom’s Cabin" whose words from Connecticut fueled abolition.
• 10 Goldback (1/100 oz): Showcases Mystic Seaport with a whaling ship, reflecting Connecticut’s maritime heritage and its role in 19th-century global trade.
• 25 Goldback (1/40 oz): Highlights Mark Twain in his Hartford home, capturing the literary giant’s wit and Connecticut’s cultural legacy.
• 50 Goldback (1/20 oz): Pictures Long Island Sound with a lighthouse, celebrating Connecticut’s scenic coastline and its economic lifeline to New York.

These designs turn the Goldback into a canvas of Connecticut’s history and identity, making it a treasure worth holding.

A Call to Lead the Northeast

Utah, Nevada, and others have their Goldbacks, but Connecticut can set the Northeast ablaze with gold. With a legislative push like the revived HB 5432, a rich heritage, and a knack for innovation, Connecticut is ready to pioneer sound money in the region. Let’s urge the General Assembly to pass tax exemptions for gold and launch a Connecticut Goldback series. Imagine gold circulating from Stamford to Stonington, proving Connecticut’s not just the "Land of Steady Habits" but a land of bold vision. The time is now.

Rise up. Make Connecticut golden.