Missouri Nears Approval of Gold, Silver as Legal Tender

Legislation to approve the use of gold and silver as legal tender has passed the House in Missouri, the latest state to work on the use of the precious metals to finance acquisitions, according to The Associated Press.

Missouri House Bill 1637, The Sound Money Act, is sponsored by Paul Curtman, a Republican who represents the 105th District.

"My [bill] passes the perfection vote! Third reading vote later and then off to the Senate!" the state congressman tweeted on Wednesday.

The AP reports the bill passed via a voice vote. Curtman's bill, which is motivated by his belief that the U.S. dollar is being victimized by debt and losing value as the U.S. government's burden grows, would not compel store owners and merchants to honor the precious metals as remittance for goods and services.

Rather, the bill would permit people to store the precious metals in depositories and then use checks and debit cards issued by those depositories to make payments on purchases. The depositories would sell shares of the precious metals to remit payments to merchants.

Curtman's bill's next step is one more approval before moving on to the state senate.

South Carolina political leaders were discussing gold and silver as legal tender last month and Utah granted approval to use of the precious metals as legal tender in April of last year. Minnesota, North Carolina, and Idaho have taken up the discussion of gold and silver as legal tender as well.

Elected to serve his first two-year term in the Missouri House of Representatives in 2010, Curtman served the U.S. Marine Corps from 1999 to 2003 and obtained the rank of sergeant. He saw active duty in Operation Enduring Freedom and the Global War on Terror.

He announced late last year that he is running for re-election in the newly drawn 109th District of Missouri.