Millions of People Could Be Able to Pay Their Taxes in Gold and Silver
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Missouri lawmakers advanced an amendment this week that would allow residents to pay taxes, as well as other goods, using silver and gold.
Why It Matters
The bill in Republican-leaning Missouri would make silver and gold a legal tender in the states. This would give its more than six million residents a new option to pay for goods and taxes if they so choose as several other states consider similar measures.
What to Know
Missouri's state legislature advanced an amendment legalizing the use of silver and gold to pay for goods and taxes as part of a larger finance bill this week, reported The Kansas City Star.
The legislation will require the state government to accept electronic versions of gold and silver as a means to pay taxes, but private businesses do not have to accept it as payment, the newspaper reported, noting that a previous version of the bill that would have required businesses to accept it sparked business pushback from the state's business community.
Gold bars are inspected at the ABC Refinery in Sydney, Australia on August 5, 2020.
Gold bars are inspected at the ABC Refinery in Sydney, Australia on August 5, 2020.
DAVID GRAY/AFP via Getty Images
Newsweek reached out to Missouri Governor Mike Kehoe and the Department of Revenue for comment via email.
GOP-Led States Consider Similar Bills
Missouri isn't the only state that has eyed legislation making silver and gold legal tenders.
Earlier in 2025, Utah lawmakers passed a bill that would set up a "precious metals-backed electronic payment platform," according to the office of State Treasurer Marlo Oaks. That bill, however, was vetoed by Governor Spencer Cox, a Republican.
Similar legislation has also been proposed, but not passed, in Louisiana, according to The Shreveport Times.
In Florida, the state Senate passed a bill back to the House of Representatives that would establish silver and gold as a legal tender, reported Florida Politics. Governor Ron DeSantis, a Republican, has indicated support for the bill, the publication reported.
What People Are Saying
Representative Bill Hardwick, a Republican, told The Star: "The goal is about restoring economic and political freedom back to everyday Missourians."
State Representative Kemp Strickler, a Democrat, told The Star: "Assuming it gets signed, we're in the 'how do we implement' stage."
State Senator John Rizzo, a Democrat, said in 2023, per the newspaper: "So when I go to a gas station and buy a Coke, a 20 ounce Coke, and I'd say, you know, here's my gold... Are they gonna give me back money in gold?"
State Senator Bill Eigel, a Republican, told Missourinet: "You know, the mistreatment of the U.S. dollar by Democrat Joe Biden up in Washington, D.C. makes the urgency of passing a bill like the golds and silver bill even more pressing."
What Happens Next
The bill goes to the desk of Kehoe, a Republican, who will decide whether or not to allow the bill to become law. He hasn't said either way how he is leaning on the bill.
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