Governor Ron DeSantis (R-FL) signed a bill this week recognizing gold and silver as legal tender in the state. The materials are poised to become free from sales tax.
“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 But for too long, outdated regulations and unnecessary sales taxes have made it impractical for Floridians to enter the gold and silver market,” he said.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.”
Speaking about the bill during a press conference, DeSantis said, “We’ve seen a lot of problems with the DC Swamp. This is our ability to give you the financial freedom to be able to protect yourself against the declining value of the dollar.”
The bill, which takes effect on July 1, 2026, states, “Such tax shall be at a rate of 6 percent of the price at which the coin or currency is sold, exchanged, or traded, except that, with respect to a coin or currency that which is legal tender of the United States or any gold coin or silver coin recognized as legal tender in this state … and that which is sold, exchanged, or traded, such tax shall not be levied.”
“The person who claims the sales tax exemption bears the burden of determining whether the gold coin or silver coin meets the definitions provided.. In the absence of evidence to the contrary, there is a presumption that the gold coin or silver coin meets the percent purity requirements provided,” the bill says.
“Gold coin” is defined in the bill as a “precious metal with the chemical element of atomic number 79 in solid form, in the shape of rounds, bars, ingots, or bullion coins, which is valued for its metal content and stamped or imprinted with its weight and purity and which solid form of chemical element atomic number 79 consists of at least 99.5 percent purity.”
“Silver coin is defined as a “precious metal with the chemical element of atomic number 47 in solid form, in the shape of rounds, bars, ingots, or bullion coins, which is valued for its metal content and is stamped or imprinted with its weight and purity and which solid form of chemical element atomic number 47 consists of at least 99.9 percent purity.”
Retailers can choose whether they would like to accept gold or silver coins as payment.
