Florida Approves Gold and Silver as Legal Tender Amid Growing Trend

A Milestone for Sound Money Advocates

In a landmark decision for precious metals supporters, Florida has officially passed House Bill CS/HB 999, titled “Legal Tender”. Signed into law by Governor Ron DeSantis on May 27, 2025, the bill recognizes certain gold and silver coins as legal tender in the state of Florida, marking a new chapter in the evolving relationship between states and sound money. The law is set to take effect on July 1, 2026, and positions Florida at the forefront of a broader national movement.

As inflationary concerns and skepticism toward fiat currency persist, states are increasingly exploring legal tender laws as a way to safeguard wealth and assert monetary sovereignty. Florida’s legislation is part of a growing trend that could reshape how Americans view and use precious metals.

Inside Florida’s CS/HB 999: What the Law Says

CS/HB 999 establishes a comprehensive framework for integrating physical gold and silver into Florida’s economic system without disrupting existing norms. The bill:

• Recognizes specific gold and silver coins as legal tender for settling debts incurred on or after July 1, 2026

• Exempts qualifying coins from sales tax

• Allows but does not require state or local government entities to accept such coins via electronic transfer

• Prevents mandatory acceptance, meaning no person or entity can be compelled to use them

• Regulates custodianship of such coins, including requirements for insurance, audits, and fiduciary responsibilities

• Protects financial institutions by ensuring they are not obligated to offer coin-related services

• Assigns rulemaking authority to the Florida Chief Financial Officer and Financial Services Commission, with a report due by November 1, 2025

In signing the bill, Governor DeSantis emphasized the importance of preserving financial autonomy, stating: “Florida is proud to lead the charge toward monetary sovereignty. Gold and silver have always stood the test of time - this law gives Floridians an honest option beyond fiat.”

Florida Joins a Growing List of Pro-Sound Money States

Florida is not alone in this movement. Several states have already embraced similar legal tender frameworks:

• Utah was the first to act with its 2011 Legal Tender Act, recognizing U.S.-minted gold and silver coins as legal tender and removing state taxes on precious metals.

• Texas followed with legislation enabling the creation of the Texas Bullion Depository, offering secure in-state metal storage for both individuals and institutions.

• Wyoming, Oklahoma, Arkansas, Louisiana, Alabama, and Idaho have also adopted laws that affirm the role of gold and silver as money and eliminate sales taxes on precious metals.

Each state adds its own dimension - from Wyoming’s $10 million gold reserve to Texas’ state-run depository - underscoring the diverse ways sound money principles are being applied at the state level.

A National Trend: More States Join the Legal Tender Conversation

As of mid-2025, over a dozen other states are advancing or considering similar legislation. Tennessee, Alaska, Kentucky, Maine, Iowa, Connecticut, and New Hampshire are all actively reviewing bills that mirror or expand upon Florida’s CS/HB 999.

Common motivations behind these initiatives include:

• Hedging Against Inflation: With ongoing dollar devaluation, states are seeking asset-backed alternatives.

• Fiat Currency Concerns: Distrust in the Federal Reserve and the national debt trajectory is fueling legislative action.

• CBDC Resistance: State policymakers are increasingly wary of central bank digital currencies and their implications for privacy and control.

• Sound Money Advocacy: Organizations like the Sound Money Defense League are playing a key role in promoting and supporting state-based monetary reform.

What It Means for Precious Metals Investors

These legislative shifts are more than symbolic. They carry practical benefits for gold and silver holders:

• Bullish Outlook: Recognition of precious metals as money strengthens their investment appeal.

• Tax-Efficient Transactions: Sales tax exemptions mean greater purchasing power and return on investment.

• Accessibility: Citizens can transact with tangible assets that maintain long-term value.

• Portfolio Diversification: Legal frameworks like CS/HB 999 provide a compelling reason to increase exposure to physical metals.

Investors are encouraged to monitor local legislation and consider how evolving state laws might influence their financial planning.

Prepare with Bullion Exchanges

As Florida prepares to roll out CS/HB 999, Bullion Exchanges is here to help residents and investors nationwide gear up for the coming shift. Our extensive selection includes:

• IRS-Approved Gold and Silver Coins

• Secure Shipping and Insurance

• Expert Customer Support

Whether you’re in Florida or another state joining the movement, Bullion Exchanges offers trusted tools and products to support your sound money journey.

A New Era for Sound Money in America

Florida’s legal tender legislation is a pivotal development in the national return to asset-backed currency options. With more states advancing similar initiatives, the relevance of precious metals as money is once again in the spotlight.

This movement signals more than nostalgia - it reflects a deepening desire for monetary independence, inflation protection, and financial security. As the legal landscape evolves, smart investors are turning to gold and silver not just for what they’ve been, but for what they are becoming: a vital part of America’s economic future.

Stay informed. Stay prepared. Stack with confidence - with Bullion Exchanges by your side.

Other articles that may interest you:
Florida Expands Precious Metals Sales Tax Exemption in 2025
State Gold Legal Tender Laws: Is Your State Next?