In July 2023, Arkansas enacted House Bill 1718 (HB1718), officially recognizing gold and silver as...
Arkansas Moves to Recognize Gold and Silver as Legal Tender
In early 2023, Arkansas lawmakers introduced House Bill 1718 (HB1718), seeking to officially recognize gold and silver as legal tender within the state. If passed, the legislation would allow Arkansans to use gold and silver coins and bullion as a medium of exchange, treating them as currency rather than investment assets. The bill defines "specie" as coins or bullion with gold or silver content, including those issued by the U.S. government or other forms recognized by Arkansas courts. Additionally, HB1718 proposes repealing the state capital gains tax on gold and silver, removing financial barriers and encouraging their use in transactions. If enacted, Arkansas would join other states, such as Utah and Wyoming, in promoting sound money principles and providing an alternative to Federal Reserve-issued currency.
