Missouri has taken steps towards recognizing gold and silver as valuable assets, with bullion and investment coins exempt from local sales tax. However, capital gains taxes still apply when gold and silver are exchanged for Federal Reserve notes or used in transactions. While Missouri has not yet fully embraced gold and silver as legal tender, similar initiatives in other states are gaining traction. Missouri also does not currently have a state bullion depository or hold its reserves in precious metals, but this remains a possibility for the future, with states like Texas leading the way in such developments.