Virginia to mint coins in case dollar collapses?

John Johnson, Newser Staff | Newser

(Newser) -- Virginia is apparently for haters of the Federal Reserve: One state legislator wants the state to mint its own coins in case the US dollar collapses.

It may sound pie in the sky, but Virginia's House of Delegates agreed on Monday to set up a $17,000 panel to explore the move. The Virginian-Pilot sees the measure by Republican Bob Marshall as a "conservative shout-out," but Marshall insists he's serious.

"We can't mint money, but we can mint gold and silver coins," he explained previously, according to an NBC network news report. "It sounds like a small difference, but it is a difference legally."

Per the U.S. Constitution, states can't actually "coin money." But but they are permitted to make "gold and silver Coin a Tender in Payment of Debts," according to a story on Newser.com.

Marshall thinks that line, along with some 19th century Supreme Court decisions, clear the way for a Virginia coin, reports The Washington Post.

What's more, Virginia isn't alone in considering an alternative currency, says a CNN cable network news report.

Johnson is a writer at Newser.com