Alaska advances legislation recognizing gold and silver as legal tender and exempting transactions from state sales tax.
Alaska’s Senate passed House Bill 1 on May 11, 2026, by a 19-1 vote, designating gold and silver as legal tender and eliminating local sales taxes on specie transactions. The bill now awaits Governor Mike Dunleavy’s signature.
The legislation, previously approved unanimously by the Alaska House, clarifies that gold and silver coins and bullion are legal tender under federal law. It ensures voluntary use, as businesses and individuals are not required to accept specie for transactions.
Supporters argue the tax exemption levels the playing field for Alaska dealers against out-of-state online retailers, encouraging local investment. The bill also mandates a study on future monetary instruments.