Arizona Reserve Funds to Include Physical Gold and Silver

PHOENIX, Ariz. — Arizona has taken another step toward strengthening its financial resilience with the passage of HB 2140 (Fink), now headed for the signature of the governor. The legislation authorizes the state treasurer to invest up to ten percent of state trust and treasury funds in physical gold and silver bullion. Goldback supports this bill and other policies that encourage the acquisition and ownership of physical gold and silver.

The measure is a prudent diversification strategy that allows Arizona to hold a portion of its reserves in tangible assets with a proven history of preserving value. Arizona joins Utah, which passed similar legislation in 2024 (HB 348, Ivory). Earlier this year, Representative Ivory described that Utah’s rainy day fund investment of $109 MM in gold had grown to approximately $200 MM in less than a year, strengthening the state’s financial position to cover expenses.

Gold and silver have proven their ability to preserve purchasing power through periods of economic uncertainty, a characteristic that is especially valuable and well-suited for emergency or rainy day funds. Arizona’s decision to allow a limited allocation of treasury assets to be in physical bullion reflects a thoughtful approach to diversification and long-term financial stewardship.