Establishes a transactional currency based on gold and silver held in a bullion depository approved by the treasurer of state.

The bill enacts sections 113.81 to 113.90 of the Revised Code to establish a transactional currency based on gold and silver. The treasurer of state will manage specie and bullion in a bullion depository, issuing transactional currency that represents actual specie and bullion held in a depository account. The value of the transactional currency is based on the market price of gold or silver at the time of the transaction. The treasurer of state can establish fees for issuance or redemption to cover administrative costs and industry standard merchant fees.

Establishes a transactional currency based on gold and silver held in a bullion depository approved by the treasurer of state.

The bill enacts sections 113.81 to 113.90 of the Revised Code to establish a transactional currency based on gold and silver. The treasurer of state will manage specie and bullion in a bullion depository, issuing transactional currency that represents actual specie and bullion held in a depository account. The value of the transactional currency is based on the market price of gold or silver at the time of the transaction. The treasurer of state can establish fees for issuance or redemption to cover administrative costs and industry standard merchant fees.