In a landmark development for currency and financial autonomy in the United States, Florida Governor Ron DeSantis signed House Bill 999 (HB 999) on May 27, 2025, officially initiating the process to recognize gold and silver coins as legal tender within the state. This legislation, set to take effect on July 1, 2026, marks Florida as the first major U.S. state to permit the use of precious metals as an alternative form of payment alongside the U.S. dollar, reflecting growing interest in financial sovereignty amid concerns over inflation and federal monetary policy (Business Insider, 2025).
The bill stipulates that gold coins must have a purity of at least 99.5%, and silver coins must be 99.9% pure to qualify as legal tender. Additionally, these coins must be stamped with their weight, purity, and mint of origin to ensure authenticity and standardization. HB 999 allows both government entities and private businesses to voluntarily accept gold and silver coins as payment for goods, services, and debts. Importantly, the legislation exempts qualifying purchases of gold and silver from sales tax if the transaction exceeds $500 or meets the specified purity standards, encouraging broader adoption of these metals in commerce (Priority Gold, 2025).
Governor DeSantis framed the bill as a defense of economic freedom and a response to what he perceives as federal overreach and reckless spending. In a public statement on X (formerly Twitter), DeSantis emphasized that the legislation empowers Floridians with greater financial self-determination and safeguards against the devaluation of paper currency due to inflation. He noted that gold has tripled in value since 2015, contrasting sharply with the declining purchasing power of the U.S. dollar (Fox 13 News, 2025).
This move by Florida echoes earlier steps taken by Utah, which in 2011 passed a similar law recognizing gold and silver as legal tender and exempting them from state taxes. However, Florida’s legislation is notable for its scale and the inclusion of modern payment infrastructure, allowing money service businesses such as PayPal and check cashers to facilitate transactions in precious metals. This integration aims to make gold and silver more practical and accessible for everyday use (Financial Express, 2025).
Critics of the bill raise concerns about the logistical challenges of using physical metals in daily transactions and the potential for confusion in pricing due to fluctuating metal values. Nevertheless, proponents argue that offering gold and silver as legal tender provides a hedge against inflation and monetary instability, giving consumers and businesses more options to protect their wealth.
In summary, Florida’s decision to recognize gold and silver as legal tender represents a significant shift in the U.S. monetary landscape. By embracing precious metals alongside fiat currency, the state is positioning itself at the forefront of a growing movement advocating for sound money and financial sovereignty. As the law takes effect in mid-2026, it will be closely watched for its impact on commerce, taxation, and the broader debate over the future of money in America.