Republican Governor Signs Legislation Recognizing Gold, Silver As Legal Tender

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Florida Gov. Ron DeSantis signed legislation to begin the process of recognizing gold and silver as legal tender in the Sunshine State.

The bill goes into effect July 1, 2026.

“Florida stands firmly for freedom, economic self-determination, and resistance to government overreach. But for too long, outdated regulations and unnecessary sales taxes have made it impractical for Floridians to enter the gold and silver market,” DeSantis said.

“I signed HB 999 today to change that, by initiating the process to recognize gold and silver as legal tender in our state and, with rule ratification from the legislature, free from sales tax,” he added.

FOX 13 Tampa Bay reports:

Starting July 1 of next year, the bill requires all coins to be stamped with weight, purity and mint of origin.

It specifies that using it, or accepting it, is optional.

Purchases of precious metal would be exempt from sales taxes, but gold and silver could be used to pay other kinds of taxes.

“We’ve really led the way on protecting your economic independence and your financial sovereignty,” said DeSantis.

The governor argues metals are a protection against a falling dollar, which he sees as a risk given perennial deficit spending in Washington.

He points out gold has tripled in value since 2015, while, because of inflation, paper money is buying less.

“We have the ability to do that under the federal constitution,” DeSantis said.

“We are the first large state to step up and to get this done,” he added.

“This legislation will authorize money services, business like check cashers or PayPal, to transmit and accept payment in gold and silver – that means these precious metals can start functioning like real currency again, not just investment vehicles for the wealthy,” he continued.

WATCH:

Per WESH:

State Rep. Bill Bankson from Apopka sponsored the bill. He said it aims to “eliminate the tax burden and make it a functional means of transaction between willing parties.”

Bankson also pointed out the value of the dollar has decreased since President Richard Nixon removed it from the gold standard in 1971.

“So, simply it brings opportunity without obligation, fiscal stability and security relief to the taxpayer, can I get an amen?” Bankson said to the crowd at the bill signing, “and will once again help Florida lead the way becoming the gold standard for economic freedom and opportunity.”

Watch the full press conference:



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