Ohio legislators propose state currency backed by silver and gold

COLUMBUS, Ohio (WCMH) -- Ohioans could soon buy their groceries or morning coffee with silver and gold instead of the American dollar.

House Bill 206, introduced by Reps. Jennifer Gross (R-West Chester) and Riordan McClain (R-Ashland), would establish a state currency based on gold and silver. The bill directs the state treasurer to set up a transactional currency rooted in silver and gold to address concerns with the value of the U.S. dollar.

"You no longer need to be rich to own gold, you can spend gold and silver anywhere that accepts Mastercard," Gross said.

The U.S. Constitution said only the federal government can coin money and regulate its value, so states are generally not allowed to make their own currency. The Constitution does allow one exception, as it says, "no state shall