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Alaska2026Passed Legislature

HB1

Making Gold and Silver Coins Legal Money in Alaska

Last scannedSep 12, 2026, 4:46 AM

In one sentence

This law defines gold and silver coins as legal tender under specific rules, stops cities and boroughs from charging sales tax on them, but does not force anyone to accept them.

What it does

  • Defines 'specie' as gold or silver in the form of coin or stamped bullion valued by its metal content.
  • States that federal government specie is legal tender if the U.S. considers it so.
  • Allows foreign government specie to be legal tender only from recognized governments not designated as adversaries, including certain subnational units and currency unions.
  • Makes state-issued specie legal tender only if a court rules it allowed and the state accepts it.
  • Stops boroughs from charging sales or use tax on the value of gold or silver in specie during a sale or exchange.
  • Stops cities from charging sales or use tax on the value of gold or silver in specie during a sale or exchange.
  • Requires the Legislative Budget and Audit Committee to study adding more legal tender forms and consumer protections.

Who it affects

  • People who buy, sell, or exchange gold and silver coins or bullion in Alaska
  • Alaska boroughs that collect sales taxes
  • Alaska cities that collect sales taxes
  • The Legislative Budget and Audit Committee

Limits and unknowns

  • The law does not force any person or government entity to accept gold or silver specie as payment.
  • Foreign currency must come from a U.S.-recognized government that is not designated as an adversary under federal law.
  • State-issued specie can only be legal tender if a court rules it allowed and the state accepts it.

Plain language

Terms to know

Specie
Gold or silver in the form of coin, or stamped bullion bars valued mainly by their metal weight.
Legal tender
A recognized medium of exchange for paying debts.

Official record

Sources

Validated
Official bill pageIntroduced textCurrent bill text

Official summary

SPECIE AS LEGAL TENDER An Act relating to specie as legal tender in the state; and relating to borough and city sales and use taxes on specie.

Official activity

Bill history

  1. (H) EFFECTIVE DATE(S) OF LAW 8/28/263033
  2. (H) LAW W/O GOV SIGNATURE 5/29 CHAPTER 6 SLA 263033
  3. (H) MANIFEST ERROR(S)2562
  4. (H) 2:55 P.M. 5/13/26 TRANSMITTED TO GOVERNOR2562
  5. (S) VERSION: CSHB 1(STA)2602
  6. (S) RETURN TO (H), TRANSMIT TO GOV NEXT2602
  7. (S) CROSS SPONSOR(S): CRONK, BJORKMAN, YUNDT2605
  8. (S) PASSED Y19 N12602
  9. (S) READ THE THIRD TIME CSHB 1(STA)2602
  10. (S) CROSS SPONSOR(S): RAUSCHER, TILTON2579
  11. (S) ADVANCED TO THIRD READING 5/12 CAL2569
  12. (S) READ THE SECOND TIME2569
  13. (S) RULES TO CALENDAR 5/11/20262569
  14. (S) FIN REFERRAL WAIVED2544
  15. (S) FIN2534
  16. (S) READ THE FIRST TIME - REFERRALS2534
  17. (H) VERSION: CSHB 1(STA)2446
  18. (H) TRANSMITTED TO (S)2446
  19. (H) COSPONSOR(S): KOPP2445
  20. (H) PASSED Y402441