Florida Just Made Gold Legal Again: A New Era of Sound Money

Published: June 23, 2025 · By Franklin Metals Group

In a groundbreaking move, Florida has officially recognized gold and silver as legal tender. Signed into law by Governor Ron DeSantis, House Bill 999 gives Floridians an alternative to the weakening U.S. dollar by restoring the use of precious metals as money — a clear return to constitutional monetary principles.

Governor DeSantis declared Florida the first large U.S. state to take such a step. Under the new law, gold and silver coins that meet strict purity requirements — 99.5% for gold and 99.9% for silver — and are properly stamped can now be used in financial transactions. This shift is intended to empower consumers, enhance economic freedom, and combat inflation.

The move comes at a time when the dollar has steadily lost purchasing power since the U.S. abandoned the gold standard in 1971. In contrast, the value of gold has more than tripled since 2015. Supporters say the new law gives citizens a more stable, inflation-resistant option for storing and spending value.

What makes the legislation especially forward-thinking is its embrace of digital transactions. Licensed financial platforms — such as PayPal and other money service businesses — may soon allow users to conduct electronic transactions using precious metals. Gold-backed debit cards and digital wallets could become a reality for Florida residents.

The law also eliminates the 7.5% sales tax on gold and silver purchases under $500, particularly those involving non-U.S. minted coins. This change lowers the barrier to entry for smaller investors and collectors. While individual businesses can choose whether to accept precious metals, state-affiliated agencies will be required to comply with the new legal tender guidelines.

Florida’s Financial Services Commission and the Chief Financial Officer’s office have until November 1, 2025, to establish further rules and guidance. More clarity is expected during the 2026 legislative session as the implementation phase moves forward.

Governor DeSantis emphasized the motivation behind the law, stating, “Inflation is a tax. This is about protecting value.” The response from the public and precious metals dealers has been enthusiastic. A Florida-based dealer, reported growing interest from residents seeking to shield their savings from economic uncertainty.