(Cheyenne, Wyoming) – With an overwhelming majority, the Wyoming state senate has voted favorably on legislation that would establish a stockpile of gold for the Cowboy State.
Sponsored by sound money champion, Sen. Bob Ide, and backed by Money Metals Exchange and the Sound Money Defense League, Senate File 96 mandates the state treasurer to invest $10 million of state funds in securely stored physical gold and silver. The bill was widely supported, passing out of the chamber with a 25-6 vote.
Sen. Ide said, “I’m proud to have sponsored this important measure and to receive this favorable vote by the state Senate. Wyoming doesn’t own a single ounce of gold, putting our state’s finances and citizens at risk.”
“I’ve worked for several years to ensure that the state of Wyoming has a stockpile of physical gold to protect ourselves against debt default risks, inflation, volatility, and more. I’m hopeful that representatives in the other chamber of the state legislature will agree to pass the Wyoming Gold Act,” continued Sen. Ide about the bill’s chances in the House.
“Central banks from all over the world, and even neighboring Utah and other states across the U.S., have started to de-dollarize,” explained Jp Cortez, executive director of the Sound Money Defense League.
“Gold and silver have been a reliable store of value for thousands of years, and more and more individuals, other countries, and even states themselves are choosing to protect themselves with this time-tested sound money,”
Additionally, the bill calls for the state treasurer to conduct a study analyzing the role of precious metals in augmenting, stabilizing and ensuring the economic security and prosperity of the state and the families, residents and businesses of the state.
The study explicitly includes a review of methods for the state to begin accepting gold and silver as a payment medium.
Since the passage of the Wyoming Legal Tender Act in 2018, the Cowboy State has been a sound money beacon for the rest of the nation, earning a first place ranking in the 2025 Sound Money Index.
Wyoming is one of several states working to establish state gold reserves in 2025.
Tennessee and Utah recently passed similar measures in their states, and this week, North Dakota introduced and held a hearing on House Bill 1183, a bill that calls for the state treasurer to invest up 1% of the total amount of public funds in gold and silver.
The sound money movement remains strong in 2025, with pro- sound money legislation introduced in over 20 U.S. states so far.
In addition to supporting legislative efforts, Money Metals and the Sound Money Defense League offer sound money scholarships and sound money fellowships to enterprising students and researchers, as well as authoring and publishing the Sound Money Index, the nation’s leading scorecard ranking all 50 states on their pro- and anti- sound money environments.
Img source: Bradylyons/WikiCommons
Jp Cortez is the Executive Director for the Sound Money Defense League, a non-partisan, national public policy group working to restore sound money at the state and federal level, and lead author of the Sound Money Index.
