Arkansas removes sales tax from gold and silver, more U.S. states to follow?

(Kitco News) - The precious metals have advanced another step in their journey to reclaim their historical status as a recognized currency in the U.S.

Monday, Arkansas Gov. Asa Hutchinson signed legislation that ended sales taxation on gold, silver, platinum, and palladium bullion and coins, making them easier to be used as money in the state.

It has been a long journey for the many proponents of the legislation. It was first introduced in 2018 but failed to make enough progress through the state's legislative bodies. Senate Bill 336 was re-introduced at the start of the year by Sen. Mark Johnson and Rep. Delia Haak. The legislation saw broad-based support, passing the Senate by a vote of 30-1 and then being passed in the state House unanimously by 93-0.