CHARLOTTE, NC / ACCESSWIRE / November 20, 2024 / 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 U.S. 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, 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 17^th to 12^th place after Gov. 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."

Only five states-Kentucky, Maine, Vermont, New Mexico, and Hawaii-continue to tax precious metals purchases, despite the impact on individuals, businesses, and families seeking a vehicle through which to preserve the purchasing power of their savings.

However, not all precious metals sales tax exemptions are created equal.

Wisconsin Gov. Tony Evers signed a full exemption on purchases of gold and silver from the state sales tax without any restrictions. The measure did not include an exemption for platinum and palladium.

The New Jersey bill ultimately signed by the governor does not exempt purchases of "investment coin," defined as, "any numismatic coin manufactured of gold, silver, platinum, palladium, or any other metal, including non-precious metals, and having a fair market value of not less than $1,000. ‘Investment coin' shall not include jewelry or works of art made of coins, nor shall it include commemorative medallions."

Inclusion of these two limited exemptions earned New Jersey only 13 points out of a possible 18 in the sales tax categories of the 2025 Sound Money Index, while Wisconsin's partial exemption earned the state only 14 points.

Several other states also considered capital gains exemptions on precious metals this year, setting the stage for more sound money reforms in the coming years.

"The Sound Money Index continues to hold states accountable for policies that impact Americans' ability to protect themselves from inflation and financial instability," said Jp Cortez, Executive Director of the Sound Money Defense League.

Cortez continued, "As the Federal Reserve note's purchasing power continues to fall, Americans need more options to protect their savings. The Sound Money Index tracks the sound money movement, calling attention to states that still shackle gold and silver with regulation and taxes, and highlights the forward-thinking states that enable the metals to function as savings and money."

The Sound Money Defense League is a non-partisan public policy group working to restore sound money at the state and federal level. Through research, education, and advocacy, the League promotes policies that recognize the importance of gold and silver as constitutional and stable forms of money.

Money Metals Exchange is a national precious metals company recently named "Best in the USA" by an independent global ratings group. Serving nearly 750,000 investors, the company also operates the largest precious metals depository in North America and provides collateral lending services.

Contact Information

Jp Cortez
Executive director
jp.cortez@soundmoneydefense.org
2082582528

SOURCE: Sound Money Defense League