A bill for an act relating to the use of specie as legal tender.(See HF 2723.)

House File 2311 (HF2311) is a bill introduced in the Iowa General Assembly that proposes recognizing gold and silver coins, known as specie, as legal tender within the state. This means that these precious metals could be used for transactions and payments, similar to how paper money is currently used. The bill was introduced on February 6, 2026, and was later renumbered as HF2723 on February 24, 2026.

Supporters of HF2311 argue that allowing gold and silver as legal tender provides individuals with more options for conducting transactions and can serve as a hedge against inflation. They believe that recognizing specie as legal tender could strengthen the state's economy by promoting financial stability and offering an alternative to fiat currency.

Critics of HF2311 express concerns about the practicality and efficiency of using gold and silver in everyday transactions. They argue that the fluctuating value of precious metals could complicate pricing and accounting. Additionally, there are worries about the potential for increased costs associated with handling and verifying the authenticity of specie, which could burden businesses and consumers alike.