Virginia

A Legacy of Leadership Deserves a Golden Future

Virginia, the "Mother of Presidents," has birthed eight U.S. presidents and played a pivotal role in shaping America’s foundation. From George Washington to Thomas Jefferson, this state’s history is steeped in leadership, liberty, and innovation. What better way to honor this legacy than by embracing the Goldback—a modern, gold-based currency that reflects Virginia’s pioneering spirit? The Goldback isn’t just money; it’s a statement of value, resilience, and independence, qualities Virginia has embodied since 1607.

Legislative Goldmine: Virginia’s Laws Are Ready

Virginia’s state legislature has already laid the groundwork for gold to thrive as a transactional tool. Under Virginia Code § 58.1-609.1(19), gold, silver, and platinum bullion, as well as legal tender coins, are exempt from sales tax. This exemption, expanded in 2022 via House Bill 936, removed the $1,000 transaction threshold and extended the sunset date to June 30, 2025, with proposals like HB2336 pushing it to 2032. This means Virginians can buy and sell gold without the burden of sales tax, making the Goldback—a small-denomination, gold-foil currency—perfectly poised for everyday use.

Unlike most states, Virginia doesn’t tax gold as a commodity but treats it as money. This aligns with the U.S. Constitution’s Article I, Section 10, which nods to gold and silver as tender—a principle Virginia can fully embrace with the Goldback. No other state in the Southeast has this level of legislative support for gold transactions, giving Virginia a golden opportunity to lead the region.

Economic Empowerment for Virginians

The Goldback isn’t just a novelty—it’s a practical tool for a state where economic diversity spans agriculture, government, and tech hubs like Northern Virginia. With denominations as low as 1/1000th of an ounce of gold, it’s ideal for small transactions, from farmers’ markets in the Shenandoah Valley to craft fairs in Richmond. In an era of inflation and dollar devaluation, the Goldback offers Virginians a stable, tangible alternative that holds intrinsic value.

Imagine a Virginia Goldback featuring the state seal, Monticello, or the Old Dominion’s rolling Blue Ridge Mountains. It’s not just currency—it’s a collectible that boosts local pride and tourism. Businesses adopting it could attract customers seeking sound money, while precious metal dealers—already thriving under Virginia’s tax exemptions—gain a new market. This is economic empowerment rooted in Virginia’s values.

Virginia-Specific Goldback Designs

Here’s how Virginia’s Goldback denominations could showcase its storied past and iconic identity:

• 1 Goldback (1/1000 oz): Features George Washington at Mount Vernon, symbolizing Virginia’s role as home to America’s first president and its agricultural roots. A subtle nod to his surveyor days could tie in the state’s frontier spirit.
• 5 Goldback (1/200 oz): Depicts Thomas Jefferson’s Monticello with the Declaration of Independence in the background, honoring Virginia’s intellectual legacy and Jefferson’s vision of liberty—perfect for a currency rooted in freedom.
• 10 Goldback (1/100 oz): Showcases the Virginia State Capitol, designed by Jefferson, with Lady Virtue from the state seal, reflecting Virginia’s governance heritage and its nickname, "Old Dominion."
• 25 Goldback (1/40 oz): Highlights the Battle of Yorktown, with a golden silhouette of the surrender field, celebrating Virginia’s decisive role in American independence—a fitting tribute on a larger denomination.
• 50 Goldback (1/20 oz): Pictures the Blue Ridge Mountains with a cardinal (the state bird) in flight, capturing Virginia’s natural beauty and resilience, ideal for the highest denomination.

These designs transform the Goldback into a miniature gallery of Virginia’s greatness, making it a keepsake as much as a currency.

A Call to Action: Lead the Sound Money Movement

States like Utah, Nevada, and Wyoming have their Goldbacks, but Virginia can outshine them all. With its legislative head start, rich history, and a population ready for financial innovation, Virginia is primed to be the next Goldback state. Let’s urge the General Assembly to champion this cause—extend the sales tax exemption permanently and promote the Goldback as a voluntary currency. Virginia can set a precedent, proving that sound money isn’t just a relic of the past but a bridge to a prosperous future.

Join the movement. Make Virginia golden again.