The newly-released 2025 Sound Money Index has identified Wyoming, South Dakota, and Alaska as the states with the most favorable policies toward constitutional sound money, while Vermont, Maine, and California take the most hostile stances.
Released annually by the Sound Money Defense League and Money Metals Exchange, the Sound Money Index is a comprehensive scorecard evaluating how each US state promotes or impedes sound money policies. Ranked policies include sales, income, and gross revenue taxes connected with precious metals, state affirmation of gold and silver as money, strengthening protections of gold and silver clause contracts, and state precious metals depositories. Additional criteria include issuing or investing in gold bonds, inclusion of physical gold or silver in state pension or reserve funds, state mechanisms to accept and remit taxes and other payments in gold and silver, and crippling regulatory burdens imposed on precious metals dealers and investors.
The 2025 Index saw several states improve their rankings dramatically after having enacted pro-sound money tax legislation in 2024. Nebraska’s elimination of capital gains taxes on precious metals propelled it from 22nd to 8th place, while Alabama leapt almost twenty spots from 28th to 9th place. Both of these states had already eliminated their state sales tax on purchases of gold and silver coins, bars, and rounds, so removing income taxes on sales was the next logical step.
Louisiana jumped from 17th to 12th place after Governor Jeff Landry signed a bill reaffirming gold and silver as legal tender in the state. Wisconsin and New Jersey also saw major improvements from their previous year’s ranking after repealing sales taxes on precious metals. Wisconsin climbed from 44th to 26th place, and New Jersey moved from 49th to 39th.
“Money Metals has spent a full decade promoting state-level sound money reforms, and I’m proud to say these bills tend to be among the most popular proposals considered in recent legislative seasons,” said Stefan Gleason, CEO of Money Metals. “For example, today there are 45 states that have partially or fully exempted sales taxes on precious metals.” […]
— Read More: mises.org
