MI HB6214

Establishes the Michigan Bullion Depository in the Department of Treasury to serve as custodian of precious metals (gold, silver, platinum, palladium, rhodium) held in bullion or specie form.

Authorizes the state treasurer to issue "Michcoin," a digital currency backed by gold and silver held in trust, allowing holders to redeem it for either U.S. dollars or physical precious metals upon demand.

Requires a feasibility study within one year to determine if the state should establish and issue gold and silver specie and digital currency, with results submitted to the governor and legislature.

Allows individuals and entities to open depository accounts to store precious metals, with deposits recorded in troy ounces and withdrawable on demand with fees established by the state treasurer.

Creates the Michigan Bullion Depositary Fund to receive fee revenue (70% of proceeds after 30% goes to general fund) for depository administration, operations, and digital currency establishment; prohibits legislative appropriation of deposits or bullion held by the depository.