Florida Embraces Gold and Silver as Money

Florida Embraces Gold and Silver as Money

Precious Metals Return to Center Stage

Florida has made headlines by officially recognizing certain gold and silver coins as legal tender through the passage of House Bill CS/HB 999. Signed into law by Governor Ron DeSantis on May 27, 2025, the measure goes into effect on July 1, 2026, marking a significant step toward restoring the monetary relevance of precious metals. This legislative move aligns with a growing trend among U.S. states seeking to reintroduce physical assets into everyday commerce and protect against fiat currency volatility.

In an economic climate fraught with inflation, debt concerns, and skepticism toward centralized financial systems, Florida’s action is part of a broader movement - one that champions sound money and financial sovereignty.

Understanding Florida’s CS/HB 999: Key Highlights

Florida’s legal tender law doesn’t simply make a symbolic gesture - it lays out a functional and secure framework for integrating gold and silver into the state’s financial ecosystem. Here’s what the bill entails:

  • Recognizes designated gold and silver coins as legal tender for debts incurred on or after July 1, 2026
  • Exempts these coins from state sales tax
  • Permits - but does not require - state and local agencies to accept coins electronically
  • Ensures participation is voluntary across public and private sectors
  • Regulates coin custodians with strict standards for insurance, audits, and fiduciary duties
  • Safeguards financial institutions from being obligated to offer coin-related services
  • Assigns oversight to the Florida Chief Financial Officer and Financial Services Commission, with a rule report due by November 1, 2025

Governor DeSantis praised the measure as a vital move toward protecting Floridians' financial freedoms, stating: “Gold and silver have stood the test of time. This law gives citizens an honest alternative to the instability of fiat.”

Florida Joins a National Chorus for Sound Money

While Florida's move is making waves, it is not without precedent. Multiple states have enacted similar measures aimed at restoring the role of precious metals:

  • Utah pioneered the trend in 2011, legally recognizing U.S.-minted gold and silver coins and removing state-level taxation on them.
  • Texas established the Texas Bullion Depository, a state-run vault for secure storage of precious metals.
  • Wyoming not only removed taxes but also created a $10 million gold reserve to fortify its fiscal security.
  • Other states that have adopted or expanded precious metals-friendly policies include Oklahoma, Arkansas, Alabama, Louisiana, and Idaho.

Each state has tailored its policies to align with broader economic goals, whether those involve decentralization, financial preparedness, or fostering a gold-backed reserve system.

State-Level Momentum: Who’s Next?

By mid-2025, over a dozen states are either considering or advancing gold-and-silver-as-money legislation. Among them:

  • Tennessee, Alaska, Maine, Kentucky, Iowa, Connecticut, and New Hampshire are actively reviewing or drafting bills that echo Florida’s approach.

The motivations behind these legislative efforts share common themes:

  • Rising inflation has driven interest in asset-backed alternatives
  • Concerns about U.S. dollar devaluation and Federal Reserve policy continue to mount
  • Resistance to Central Bank Digital Currencies (CBDCs) has ignited a call for decentralized money
  • Advocacy groups like the Sound Money Defense League have helped amplify the state-led movement

Why This Matters for Precious Metals Buyers

For bullion investors, these legislative changes offer more than just symbolic wins:

  • Gold and silver as money: Legal tender laws increase legitimacy and potential use cases
  • Tax efficiency: Sales tax exemptions lower the cost of acquisition and boost ROI
  • Diversification: Precious metals remain a safe harbor in a sea of financial uncertainty
  • Growing accessibility: Legal frameworks promote new pathways for using and holding metals

Compare with Confidence Using Bullion Hunters

At Bullion Hunters, we’re committed to empowering collectors and investors with the tools they need to make smarter decisions. As states move toward more favorable legislation, Bullion Hunters makes it easy to compare:

  • Dealer pricing across top retailers
  • Availability of IRS-approved legal tender coins
  • Trending collectible gold and silver pieces

With side-by-side price tracking and dealer reputation insights, Bullion Hunters helps you buy confidently and stay ahead of the market.

The Takeaway: Sound Money’s Resurgence

Florida’s decision to recognize gold and silver as legal tender signals a pivotal shift toward decentralized monetary control and asset-backed stability. With other states following suit, the relevance of precious metals in everyday finance is clearly on the rise.

For those navigating this evolving landscape, staying informed is essential. Whether you’re stacking for investment, collecting for history, or preparing for future flexibility, now is a prime time to deepen your knowledge - and your holdings.

Track prices, compare products, and stay ahead of the curve with Bullion Hunters - your ultimate precious metals companion.