Establishes gold and silver transactional currency system; designates Commissioner of Banking and Insurance as administrator; provides legal tender status; authorizes fees.

S 846 establishes a state-administered system for electronic "gold and silver transactional currency," backed by physical gold and silver bullion held in a pooled depository account. The Commissioner of Banking and Insurance would administer the system, allowing users to pay with the currency (voluntarily accepted) or redeem it for U.S. dollars or physical bullion. The bill specifies that physical gold/silver coins meeting certain marking requirements may serve as legal tender under this system, but explicitly states it does not replace U.S. dollars or require businesses to accept the currency. Fees for administration would cover costs and be deposited into the state General Fund.