Senate Bill 1827, also known as House Bill 2038, amends Tennessee Code Annotated, Title 9, Chapter 1, to establish that precious metal coins, specifically gold and silver, are recognized as legal tender in the state. The bill defines key terms such as "coin," "legal tender," "person," and "precious metal," providing clarity on what constitutes precious metal coins and their use in transactions.

Additionally, the bill stipulates that no individual or entity can compel another to use or accept precious metal coins as legal tender unless there is an explicit agreement or legal authorization. This provision ensures that the acceptance of precious metal coins remains voluntary and regulated by mutual consent or existing laws. The act is set to take effect immediately upon becoming law, emphasizing its importance for public welfare.