The Alaska Legislature has passed a bill to establish gold and silver currencies as legal tender and exempt them from sales taxes. The bill, which passed unanimously in the House and passed the Senate 19-1, specifically applies to specie, gold-backed currencies, gold, silver coins, and bullion stamped with their metal content, would not apply to metal bars or nuggets. The sponsor, Big Lake Republican Rep. Kevin McCabe, said the bill aims to incentivize saving by allowing stores and other entities to accept specie as currency but not require them to do so. It also aligns with the U.S. Constitution, allowing Alaska to join the more than 40 states that have eliminated sales tax on gold or silver. Since Alaska does not have a statewide sales tax, taxes levied on specie come only from municipalities.