In a recent meeting of the Wyoming Senate Revenue Committee, discussions turned to the potential for the state to invest in physical gold as a hedge against economic uncertainty. The conversation, which took place on January 22, 2025, highlighted the growing interest in tangible assets amid concerns over the stability of fiat currencies.

Senator French initiated the dialogue by referencing a 2018 bill that defined "specie" as coins with gold or silver content, as well as refined bullion valued primarily for its metal content. He illustrated the scale of investment by explaining that a $10 million investment could be stored in just a few 400-ounce gold bars, emphasizing the compact nature of such a significant asset.

The committee explored the implications of securing such a large amount of gold, with concerns raised about potential theft. Senator French questioned how the state would ensure the safety of its assets, given the allure they would present to criminals. In response, the committee discussed existing secure storage options, including vaults in Salt Lake City and Casper, Wyoming, which are equipped with armed guards and insurance.

The conversation also touched on a broader trend, noting that central banks worldwide are accumulating gold at unprecedented rates, reflecting a shift away from reliance on paper currency. This trend underscores a growing belief that fiat money may be nearing its limits, as its value can diminish without backing by tangible commodities.

As the meeting concluded, the committee opened the floor for public comment, signaling a willingness to engage with constituents on this significant financial strategy. The discussions not only highlighted the potential for Wyoming to safeguard its financial future through gold investment but also mirrored a national conversation about the value of physical assets in an increasingly uncertain economic landscape.