If multiple states adopt legal tender legislation, depositories open, and the DeMint-Lee-Paul bill becomes law, there will be an alternative monetary system.
The 1985 law that led to the creation of the U.S. Mint legal tender bullion coin was largely his doing, the outgrowth of The Coinage Act of 1983, a bill sponsored by Dr. Paul.
Galvez, a Republican state representative in Utah sponsored a bill earlier this year to allow for the state to recognize gold and silver coins as legal tender.