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Alaska makes gold and silver currencies legal tender
By Mari Kanagy
Anchorage Daily News
Wednesday, May 13, 2026
JUNEAU -- The Alaska Legislature passed a bill Tuesday to establish gold and silver currencies as legal tender and exempt them from sales taxes.
The bill passed the House unanimously last week, and passed the Senate 19-1 on Tuesday.
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The legislation applies specifically to specie -- gold-backed currencies, gold and silver coins, and bullion stamped with their metal content. It would not apply to metal bars or nuggets, which aren't considered currency.
The bill's sponsor, Big Lake Republican Rep. Kevin McCabe, says the bill is intended to solidify "financial freedom of choice," as it allows stores and other entities to accept specie as tender but does not require that they must.
McCabe said he sees the bill as a way to incentivize saving, where savers "store the value in their safe" as precious metal instead of cash, a strategy viewed as a hedge against inflation. ...
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