Gold and Silver is NOW Legal Tender in the State of Florida!

In an interesting twist, gold and silver are returning to their historical status as currency—at least in the State of Florida. While this change won't significantly impact speculators or high-level investment strategies, it does give Floridians and tourists an additional option for settling debts, fulfilling duties, or conducting private transactions using physical gold and silver.

To be clear, it has never been illegal in Florida to barter or use precious metals like gold and silver in transactions. What this new law does is formalize and affirm that option—especially in interactions with the state. Government agencies, including county offices, can now accept gold and silver as payment for money owed. Because gold and silver are typically treated as commodities rather than currency, taxation issues can get murky. However, the new legislation simplifies this at the state level: if you make a purchase using gold or silver, you pay zero sales tax.

Importantly, this new "legal tender" designation applies only to coins that are at least 99.5% pure. Small businesses can choose to opt in and accept gold or silver if they wish. However, certain financial service providers—such as cashier check-cashing locations and companies like PayPal—are required to accept gold and silver under Florida law. These entities must also follow anti-counterfeiting protocols and maintain proper records.

In my opinion, this is a positive development for anyone seeking alternatives for making or receiving payments. It offers Floridians greater financial flexibility and strengthens the state's sovereignty by reducing dependence on the Federal Reserve’s fiat currency system. Given that this system is voluntary for most, adoption will likely be gradual—but I commend Governor Ron DeSantis for pushing a bold, Florida-first agenda.