Arkansas § 26-52-454 Coins, currency, and bullion - Definitions

Arkansas Statutes

§ 26-52-454 — Coins, currency, and bullion - Definitions

Arkansas § 26-52-454

Title26

This text of Arkansas § 26-52-454 (Coins, currency, and bullion - Definitions) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 26-52-454 (2026).

Text

(a)As used in this section:

(1)"Bullion" means a bar, ingot, or coin:

(A)Manufactured in whole or in part of gold, silver, platinum, or palladium;

(B)That was or is used solely as a medium of exchange, security, or commodity by any state, the United States Government, or a foreign nation; and (C) Sold based on the intrinsic value of the bar, ingot, or coin as a precious metal or collectible item rather than its form or representative value as a medium of exchange; and (2) (A) "Coin or currency" means a coin or currency:

(i)Manufactured in whole or in part of gold, silver, other metal, or paper;

(ii)That was or is used solely as a medium of exchange, security, or commodity by any state, the United States Government, or a foreign nation; and (iii) Sold based on the intrinsic value of t

Free access — add to your briefcase to read the full text and ask questions with AI

(a) As used in this section: (1) "Bullion" means a bar, ingot, or coin: (A) Manufactured in whole or in part of gold, silver, platinum, or palladium; (B) That was or is used solely as a medium of exchange, security, or commodity by any state, the United States Government, or a foreign nation; and (C) Sold based on the intrinsic value of the bar, ingot, or coin as a precious metal or collectible item rather than its form or representative value as a medium of exchange; and (2) (A) "Coin or currency" means a coin or currency: (i) Manufactured in whole or in part of gold, silver, other metal, or paper; (ii) That was or is used solely as a medium of exchange, security, or commodity by any state, the United States Government, or a foreign nation; and (iii) Sold based on the intrinsic value of the coin or currency as a precious metal or collectible item rather than its form or representative value as a medium of exchange. (B) "Coin or currency" does not include a coin or currency that has been incorporated into jewelry. (b) The gross receipts or gross proceeds derived from the sale of coins or currency or bullion are exempt from the gross receipts tax levied by this chapter and the compensating use tax levied by the Arkansas Compensating Tax Act of 1949, § 26-53-101 et seq.