All politicians need money for their campaigns. But a congressional candidate from Santa Fe is asking supporters to give his campaign something he says is far more valuable than cash: gold and silver.

Adam Kokesh, who hopes to win the Republican nomination to run against incumbent Democrat Rep. Ben Ray Luján next year, said in a news release Monday that his campaign is encouraging donations in the form of precious metals partly to influence supporters "to learn to purchase those metals as a store of personal wealth."

Kokesh is a supporter of U.S. Rep. Ron Paul, R-Texas, who campaigned for president last year on a platform that included returning U.S. currency to the gold standard.

"Unlike the U.S. dollar, real money is supposed to be worth something, backed by more than promises and wishful thinking," Kokesh said in the news release. "Returning to a system based on honest, commodity-backed currency, would take away the federal government's book of blank checks and prevent bankers from stealing from us by printing claims to wealth, without creating anything of real value."

Judith Ingram, a spokeswoman for the Federal Election Commission in Washington, D.C., said Monday that while such a fundraising method is unusual, it's legal under federal law as long as the contributions are reported properly and don't exceed federal limits. The limits are $2,400 per person per election.

Under federal law, any such donations would have to be included under in-kind contributions in a candidate's campaign finance report, Ingram said. The value reported would have to be the value of the metal on the day it was donated, she said.

Ironically, Kokesh's announcement came on a day in which gold prices fell as the U.S. dollar showed signs of recovery, the Associated Press reported.

"Commodities prices mostly fell Monday, with gold prices tumbling following a recovery in the dollar and as money moved into stocks and other assets," the wire service said. "Gold for February delivery fell $15.50 to settle at $1,096.00 an ounce. It was the first time gold settled below $1,100 an ounce since Nov. 6."

The price of silver also declined by more than 28 cents. The price was $17.03 Monday, the AP said.

Michael Maresco, a Kokesh friend and campaign volunteer who answered the phone listed for news media contact, said Monday there already have been some contributions in gold and silver, including a silver coin engraved with the likeness of a Marine. Kokesh served in the Marine Corps.

Kokesh faces Farmington oilman Tom Mullins in the Republican primary in June.

Contact Steve Terrell at 986-3037 or sterrell@sfnewmexican.com. Read his political blog at roundhouseroundup.com.