Show-Me State Times

The Missouri Chamber of Commerce and Industry is voicing its concerns over a proposed legislation that would mandate private businesses in the state to accept gold and silver as legal tender. Senate Bill 194 aims to introduce gold and silver as acceptable payment forms in Missouri.

The Chamber argues that this measure threatens the rights of business owners to determine their own accepted forms of currency. These may include cash, electronic payments, or precious metals, among other options.

Missouri Chamber Director of Legislative Affairs Jared Hankinson recently spoke at a Senate Insurance and Banking Committee hearing, highlighting the challenges such a mandate would present. “We want to avoid a government mandate on businesses that may require businesses to completely re-work their operational models,” he stated.

In particular, the bill includes a clause that requires the receiving entity to cover expenses related to the verification of the weight and purity of gold or silver used in transactions. This provision could impose significant costs and operational hurdles for businesses.

For further details, Jared Hankinson can be contacted at jhankinson@mochamber.com or via phone at (573) 634-3511.