Florida approves law allowing the use of gold and silver as a means of payment

The governor of Florida, Ron DeSantis, signed new legislation on Tuesday aimed at recognizing gold and silver as legal tender in the state and exempting their use from sales tax.

The measure, known as HB 999, will allow gold and silver coins that meet specific purity standards to be used in commercial transactions, as reported by NBC Miami.

"Transactions with these precious metals will be allowed," DeSantis stated during a press conference in Apopka, where he also noted that Florida would be the largest state to approve such legislation.

The project was promoted by state representative Bill Bankson, also from Apopka, who explained that the goal is to "eliminate the tax burden and turn these metals into a functional means of transaction between parties that agree to it."

In a post on the social media platform X, DeSantis emphasized that the measure is part of Florida's commitment to "freedom, economic self-determination, and resistance to government excesses."

He added that “for too long, outdated regulations and unnecessary sales taxes have made it impractical for Floridians to enter the gold and silver market.”

According to him, the signing of law HB 999 marks the beginning of the process to recognize these metals as legal tender in the state and, once the rules are ratified by the legislature, exempt them from sales tax.

In a second post, the governor stated that, from blocking ESG investments to tackling the phenomenon of de-banking, his administration has taken steps to protect Floridians from the push toward greater centralized control over currency and transactions.

"Today I was pleased to sign HB 999, through which Florida will exercise its authority under the Constitution of the United States to recognize gold and silver as means of payment," he wrote.

DeSantis also stated that the new legislation will provide citizens with "greater financial freedom and more tools to protect the fruits of their labor," while supporting "inflation-resistant assets," thus ensuring that the wealth of Floridians would not depend, according to him, "on the addiction to the federal government's irresponsible spending."

The new legislation must be ratified by the state legislature for its final implementation. If approved, the law would come into effect on July 1, 2026.

In recent weeks, Governor Ron DeSantis has promoted a series of initiatives that reinforce his political agenda in Florida, standing out for his focus on defending individual liberties and addressing sensitive social issues.

One of these actions was the approval of the so-called “Navigator Freedom Act”, which eliminates random detentions of vessels by state agents, requiring that there be probable cause for any inspection.

The measure aims to reduce tensions between authorities and the boating community, while positioning the state as a leader in recreational navigation.

Another recent decision by the governor was the signing of legislation that during emergencies such as hurricanes.

This regulation expands the intervention powers of rescuers and establishes harsher penalties for those who abandon their pets under extreme weather conditions, responding to recurring complaints from previous events.

DeSantis has also leveraged his institutional platform to reinforce his support for the Cuban community in exile.

In a public proclamation, he reiterated his condemnation of the communist regime on the island and reaffirmed Florida's commitment as a refuge and ally for those fighting for freedom, emphasizing the historical legacy of the Cuban exile community and its influence in the state.

Frequently Asked Questions About the Use of Gold and Silver as Payment Methods in Florida