Alaska2026Passed Legislature

SB162

Making Gold and Silver Specie Legal Tender in Alaska

Last scannedSep 12, 2026, 4:46 AM

In one sentence

This bill defines gold and silver coins or stamped bullion as legal tender under specific conditions, stops boroughs and cities from taxing the metal value of these items during sales, and requires a committee to study adding more types of money.

Defines 'specie' as gold or silver valued by its metal content in the form of coins or stamped bullion bars showing weight and purity.
States that federal government specie is legal tender if the U.S. considers it legal tender.
Allows foreign government specie to be legal tender only if issued by a recognized non-adversary nation, an authorized subnational unit, or an international currency union of such nations.
Permits state-issued specie as legal tender only if a court rules the state has the authority and the state considers it legal tender.
States that people and government agencies are not required to accept gold or silver specie for payment.
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 types, consumer protections, and behavior related to specie.

People who buy, sell, or exchange gold and silver coins or stamped bullion in Alaska
Boroughs that collect sales taxes on goods and services
Cities that collect sales taxes within boroughs
The Legislative Budget and Audit Committee

The bill does not force anyone to accept gold or silver coins for payment.
Foreign currency only counts if the U.S. recognizes that government and it is not an enemy nation.
State-issued specie can only be legal tender if a court rules the state has the power to make it.

Plain language

Specie: Gold or silver valued mainly by its metal content, in the form of coins or stamped bullion bars showing weight and purity.
Legal tender: A recognized way to pay debts that is accepted as valid money under state law.

Official record

Validated

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