Senate Bill 1827 amends Tennessee Code Annotated, Title 9, Chapter 1, by introducing a new section that defines and recognizes precious metal coins as legal tender in the state. The bill provides specific definitions for terms such as "coin," "legal tender," "person," and "precious metal," with "coin" encompassing both precious metal fabricated into currency-like products and refined bullion. It establishes that while precious metal coins are recognized as legal tender, no individual can be compelled to use or accept them unless there is an explicit agreement or legal authorization.

The bill aims to clarify the status of precious metals in financial transactions, ensuring that they can be used as a medium of exchange while also protecting individuals from being forced to accept them without consent. This legislation is set to take effect immediately upon becoming law, emphasizing its importance for public welfare.