Florida Governor Signs Bill Making Gold and Silver Legal Tender

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This week, Florida Governor Ron DeSantis signed a bill to begin the process of making gold and silver legal tender in that state. Why? “This is our ability to give you the financial freedom to be able to protect yourself against the declining value of the dollar,” said DeSantis. The new state law will go into effect July 1, 2026.

Sound Money Laws Gain Momentum in the States

Florida isn’t alone. There is a growing movement across a number of states to recognize gold and silver as legal tender. As of mid-2025, a number of states have enacted legislation officially recognizing gold and silver coins as legal tender, while many other states have bills up for consideration.

Here are just a few of the states that currently recognize gold and silver coins as legal tender, which allows for these coins to be used for payments of debts and in commerce:

  • Utah: The Utah Legal Tender Act, enacted in 2011, recognizes U.S.-mint gold and silver coins as legal tender.
  • Louisiana: The state currently has a law on the books stating that gold and silver is legal tender. Currently, there is new legislation that proposes a modification to the language to state that any gold or silver coin, specie, or bullion must be recognized by the U.S. government, rather than issued by it, to be considered legal tender in the state. This modification replaces the term “issued” with “recognized” and removes the requirement for state issuance.
  • Oklahoma: In 2014, the Oklahoma Senate Bill 862 recognized gold and silver U.S.-minted coins as legal tender and exempt from taxation.
  • Wyoming: In 2018, Wyoming established a law that eliminated the taxation of gold and silver bullion.
  • South Carolina: In 2013, the South Carolina House of Representatives passed a bill declaring gold and silver legal tender.
  • Kansas: In 2013, the Kansas Committee on Taxation passed a bill declaring U.S.-minted coins as both of legal tender and tax-exempt.

A Constitutional Foundation for Gold and Silver as Money

Why is this movement growing across our nation today? Supporters of sound money point to the U.S. Constitution’s specific reference to gold and silver as money, arguing that returning to these standards upholds the nation’s founding legal framework.

The U.S. Constitution in Article 1, Section 10, says: “No State shall… make any Thing but gold and silver Coin a Tender in Payment of Deb

ts.” This clause is often cited by sound money advocates as the constitutional basis for states to recognize precious metals as money.

While, federal policy has favored the use of paper currency, states do have the authority to recognize gold and silver as legal tender within their own jurisdictions.

Other Reasons State Legislatures Are Focusing on Gold and Silver

The sound money movement to restore gold and silver as legal tender across states is being driven by a desire for economic stability in a currency. Unlike paper money (fiat currency), which governments and central banks can print in unlimited quantities, gold and silver are naturally scarce. For example, the annual increase in the global gold supply is generally only about 1.4% to 2.2%.

But, the supply of paper money can grow rapidly. During the Global Financial Crisis and the Covid Pandemic, the government printed new paper money to flood the financial system with liquidity. In 2020 alone, U.S. money supply, as measured by M2, grew by 27%.

More supply devalues the purchase power of paper money over time.

Over 5,000 years of history, gold and silver have held and increased in value. Meanwhile, there are numerous examples in history where paper currencies have been devalued, destroyed and made nearly worthless by hyperinflation or monetary policy changes. Precious metals offers a stable store of value and a hedge against currency devaluation.

Proponents of the sound money movement also point to benefits including financial privacy and freedom. Unlike digital payments which are track

ed and can even be frozen by governments, using physical gold and silver can offer privacy and autonomy in financial transactions.

Last but not least, concerns about the rising United States government debt is creating concerns about a potential currency crisis, devaluation or a period of significantly higher inflation in our nation.

The Bottom Line

Gold and silver have served as currencies for over 5,000 years and have stood the test of time. In today’s modern world, investors big and small still put their faith into precious metals. Central banks around the globe have been adding to and stockpiling new gold reserves in recent years at a record pace. It’s not just central bankers. Demand for gold bars and coins has been surging among individual investors too, with some dealers experiencing temporary shortages.

At Blanchard, we are committed to helping you protect and preserve your wealth. We have an extensive inventory of gold and silver bullion available to ship today. It’s easy to increase your wealth protection if you act now. Explore our gold coin or silver coin inventory now.

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