By Jp Cortez
America’s top-rated national precious metals dealer and the nation’s preeminent sound money policy group are proud to announce Alabama state Senator Tim Melson as the 2024 “Sound Money Legislator of the Year.”
Money Metals Exchange and the Sound Money Defense League selected Senator Melson to receive this prestigious annual award for leading a successful campaign to end the capital gains tax on gold and silver coins, bars, and rounds in the Yellowhammer State in 2024.
Sen. Tim Melson (Florence, AL)
Senate Bill 297, the Alabama Sound Money Tax Neutrality Act, removed this major tax penalty that had undermined citizens’ use of gold and silver as savings in the state.
This is not Senator Melson’s first successful campaign to promote sound money policies in Alabama.
Sen. Melson had previously championed a measure to remove the sales tax exemption on purchases of the metals back in 2018 with Senate Bill 156. In 2022, he sponsored Senate Bill 13, a measure that extended the expiration date of the sales tax exemption for another five years.
“I’m honored to receive this award,” said Senator Melson. “At a time of high inflation and uncertainty, sound money is more relevant than ever. Gold and silver have stood the test of time as reliable stores of value for thousands of years.”
Melson continued, “I’m proud to fight for policies that protect an individual’s right to use gold and silver as money. I will continue advocating for sound money in Alabama, ensuring that we create a more stable economy for everyone.”
Several other lawmakers also made key contributions to the national movement to advance sound money policies, thereby earning honorable mention as part of this year’s award.
Wisconsin state Representative Shae Sortwell and state Senator Duey Strobel passed critical legislation that eliminated sales taxes on purchases of precious metals, bringing the tally to 45 states in the country that have ended the unjust taxation on sound money.
Nebraska state Senator Ben Hansen also played a pivotal role in advancing sound money by sponsoring legislation to eliminate state capital gains taxes on precious metals, and leading the charge to reject Central Bank Digital Currencies (CBDCs) in the Cornhusker State.
Sen. Hansen also helped combat and ultimately defeat legislation that would have reimposed a sales tax on purchases of gold and silver. His work has established Nebraska as a leader in sound money reform.
The scores earned by Alabama, Wisconsin, and Nebraska’s on the 2025 Sound Money Index improved as a result of the passage of these significant pieces of legislation.
The Sound Money Defense League and Money Metals Exchange celebrate the legislative accomplishments of these lawmakers, who continue to make strides in promoting sound money policies across the United States, and 2025 promises to bring forth even greater advancements.
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.
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