Imagine you’re in the supermarket checkout line. The cashier scans and bags your groceries as usual, then offers you a new way to pay: “Cash, card … or gold?”
The scenario may sound far-fetched. But people in Missouri, Texas and other states will be able to buy household items with gold and silver under a series of new laws that treat precious metals like currency.
Supporters of the measures — among dozens of gold- and silver-related bills considered by states this year — don’t envision people pulling out gold coins and bullion bars at the cash register and don’t require that retailers accept gold as payment. The bipartisan laws are instead designed to make it easier and cheaper for people to spend their gold investments — including by allowing officials to set up electronic payment platforms and by challenging the federal capital gains tax on precious metals.
Source: New state laws pave the way for using gold as legal tender – The Washington Post