Buying lunch with gold or paying your taxes in silver might sound like something out of a history book. But in Missouri, it will soon be a real option.
Thanks to a new law backed by State Rep. Bill Hardwick, R-Dixon, precious metals can be used as currency for everyday transactions.
Hardwick told Missourinet the law will change things for consumers in the long run.
“What makes this special is that the Department of Revenue will have a means necessary where you can make payments to the state using this kind of gold and silver backed currency,” said Hardwick. “And then we can have this paper denomination. And if a business wants to take it. No business has to do it.”
Hardwick told Missourinet the new law recognizes gold and silver as legal currency, offering an alternative to the traditional dollar amid growing concerns over inflation and economic stability.
“Missouri could say ok we’re going to create these notes,” said Hardwick. “This is a five-gold-back note. This is a one-gold-back note. And if you want to make your payments, you can turn these notes into us. And so, when they create them, then that gives it validity that the state accepts it. And then a market can be created if a business says we want to accept this.”
Hardwick emphasizes that participation is entirely voluntary for Missouri businesses. He says the law, which begins August 28, simply opens the door to a new market and gives Missourians one more option in how they choose to manage their money.
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