In May 2023, the Alaska House passed House Bill 3, introduced by Rep. Kevin McCabe (R-Big Lake), allowing gold and silver to be used as legal tender within the state. The bill reaffirms Alaska’s recognition of gold and silver for debt payment, aligning with the U.S. Constitution and supporting sound money principles. It permits business owners to accept refined gold and silver coins or bars as payment, provided their value is authenticated, but excludes gold dust or nuggets. Additionally, the legislation exempts local governments from collecting sales tax when U.S. dollars are exchanged for gold and silver, while maintaining sales taxes on purchases made with these metals. Rep. McCabe emphasized that HB 3 is a critical step in securing Alaska’s economic future and protecting citizens' rights under the Ninth and Tenth Amendments, reflecting a broader trend as over ten states have enacted similar laws. The bill now moves to the Alaska Senate for consideration.
Anchorage Daily News: Alaska House passes bill to make gold and silver legal tender