April 6, 2023 Less than a minute read

Lawmakers look to make gold and silver legal tender

The Missouri Chamber of Commerce and Industry is opposing legislation that could require businesses to accept gold and silver as payment.

This week, the House Special Committee on Government Accountability held a public hearing on SB 100, sponsored by Sen. Bill Eigel (R-Weldon Spring). This bill makes gold and silver a legal tender in the state of Missouri.

According to Eigel, only two other states have adopted gold and silver as legal tender.

The Missouri Chamber is concerned that the bill’s language could require businesses to accept gold and silver as currency.

Phillip Arnzen, director of legislative affairs for the Missouri Chamber, testified in opposition.

“That could be interpreted as requiring businesses to accept gold and silver for engaging in commerce,” Arnzen said. “We believe businesses should be able to decide what currency they accept as payment. If they want to only accept gold or silver, that’s great. If they only want to accept electronic payments, great. If they just want to accept cash, they can do that as well.”

For more information, contact Arnzen at parnzen@mochamber.com or 573-634-3511.


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