Florida Moves Toward Gold and Silver as Legal Tender Under New Law Signed by Gov. DeSantis

In a bold move to reshape how money works in Florida, Governor Ron DeSantis has signed a new bill that sets the stage for gold and silver to be used as legal tender in the Sunshine State. The law, which was signed this week, will officially take effect on July 1, 2026.

A New Era of Currency in Florida?

The legislation allows individuals and businesses in Florida to use gold and silver as an alternative form of payment though participation is strictly voluntary. The coins must be clearly marked with weight, purity, and the mint of origin to be accepted.

While traditional currency will still be widely used, the new law provides residents with the option to use precious metals for certain transactions, including paying state taxes. At the same time, purchases of gold and silver will be exempt from sales tax, giving metal investors a potential financial edge.

DeSantis Defends the Move as Protection Against Inflation

Speaking at a press event in Apopka, Governor DeSantis positioned the law as a form of financial self-defense.

“We’ve led the way in protecting your financial independence,” he said. “This law gives Floridians the option to safeguard their money from the declining value of the U.S. dollar.”

DeSantis cited ongoing federal deficit spending and rising inflation as reasons to give Floridians greater financial flexibility. He noted that gold has tripled in value since 2015, making it a historically resilient store of value unlike paper currency, which continues to lose purchasing power over time.

Practical Concerns Around Implementation

While the idea of using precious metals as money has excited some, others are taking a more cautious view.

Marc Bonnett, who owns Tampa Bay Coin and Precious Metals, welcomed the concept but questioned how it would work in real life. Bonnett held up a 100-ounce silver bar currently worth over $3,000 and pointed out the challenges.

“That could be used to buy a used car,” he said. “But there’s the issue of pricing, authentication, and practicality. You can’t just accept gold without knowing it’s real.”

Bonnett also raised concerns about counterfeit metals, saying he frequently sees people trying to sell him items that turn out to be fake.

“If someone wants to pay with silver or gold, there needs to be a system in place to verify authenticity and assess value,” he said. “Otherwise, it’s going to be difficult for the average business to handle.”

Who Has to Accept Gold?

The bill makes it clear that businesses are not required to accept precious metals unless they choose to. However, there are a few exceptions: licensed money service businesses, check-cashing companies, and certain financial entities will be required to accept gold and silver if a customer chooses to pay that way.

What’s Next?

Florida’s Chief Financial Officer and Financial Services Commission now face the task of developing a full framework for how this system will work in practice. This includes rules for valuation, verification, business licensing, and consumer protections.

A preliminary report is due to the state legislature by November 1, 2025, followed by official rule adoption and legislative ratification to ensure the system is up and running by July 1, 2026.

The Bottom Line

Florida is stepping into uncharted territory by embracing gold and silver as legitimate forms of payment. While it’s too early to tell how widespread adoption will be, the new law could offer Floridians an alternative way to hedge against inflation and preserve long-term value as long as the rules are clear and practical enough to support real-world use. Checkout Nadlan Capital Group for Financial opportunity.