Arizona Senate Bill Proposes Gold and Silver-Backed Currency

In January 2025, Senators Jake Hoffman and Rachel Jones introduced Senate Bill 1096, aiming to establish the Arizona Bullion Depository and introduce a gold and silver-backed currency recognized as legal tender within the state. This legislation would allow both the state and private individuals to securely store precious metals and facilitate transactions using state-minted gold and silver coins or a specie-backed digital currency. By providing an alternative to fiat currency, the bill seeks to enhance financial security and promote sound money practices in Arizona.

Read SB 1096 

Update: SB 1096 has passed through committee and both Senate minority and Senate majority caucuses