A.G. Gancarski
Precious metals are closer to being usable for transactions, as Gov. Ron DeSantis signs a bill “to make gold and silver proper legal tender.”
DeSantis says the move protects “financial sovereignty” and safeguards against the “declining value of the dollar.”
HB 999 “recognizes gold and silver coin as legal tender for payment of debts,” but also mandates “additional requirements regarding privately ensuring deposits’ security, record keeping, and maintaining separate ledger accounts for money services that effectuate transactions involving gold or silver coin.”
For DeSantis, the bill is the latest in a series of actions against initiatives, including the introduction of Central Bank Digital Currency and environmental, social, and governance policies, particularly in pension funds.
“The same people that pushed these bad policies wouldn’t want you doing gold and silver,” DeSantis said, as commodities offer independence from “fiat currency” devalued by a federal government dedication to “borrowing and spending.”
DeSantis notes the legislation allows “check cashers or PayPal to transmit and accept payment in gold and silver.”
“That means these precious metals can start functioning like real currency again, not just investment vehicles for the wealthy,” he said, noting that gold has gone “up, big time,” and predicting it would continue to amid concerns over U.S. credit ratings and the bond market.
“So it’s not just an investment. It’ll be something that you’re going to be able to use. And it’s something that is very likely to hold its value. Certainly compared to fiat currency,” he remarked.
During his commentary, DeSantis lauded Elon Musk and the Department of Government Efficiency, while lashing out at the Republican Congress for not codifying cuts, saying it proved the need for a balanced-budget amendment and term limits for Congress.
“DOGE fought the swamp,” DeSantis said. “And thus far the swamp has won.”
The final bill also requires the Chief Financial Officer and the Financial Services Commission to adopt rules implementing the bill and submit them to the Legislature by Nov. 1, with Senate language imposing more guidelines for the bill.
The legislation would remove sales tax for “coins or currency sold, exchanged, or traded based on precious metal content,” per a bill summary from the House. It would also exempt gold or silver coins from sales tax and allow governmental entities to accept them as legal tender, establishing guidelines for custodians of these instruments and providing consumer protections.
18 comments
Victoria Olson
May 24, 2025 at 11:41 am
DeSantis will never Stop the insanity until we vote him out of office. Everything he does is either to enrich himself or the wealthy instead he could have given Floridians Free school lunch’s instead of starving children. Snap & Meals on wheels.
SuzyQ
May 24, 2025 at 12:28 pm
Are you dumb or delusional? Vote him out? He’s term-limited — which means he will not be our beloved Governor after mid-January of 2027? You need to more reading and less opining foolishly online. Good grief!
P.S. His wife will make a great Florida governor. Casey ’26!
MarvinM
May 25, 2025 at 9:50 am
Casey DeSantis *might* have made a decent Florida governor in Times Past with a better economy, but whoever wins the 2026 election is going to face severe challenges and have to make a lot of unpopular choices.
Our governor can’t save us from tariff price hikes, or T-bond rate increases fueling higher interest and rapidly compounding national debt. And without expanding medicaid, our governor can’t do anything to help keep hundreds of thousands of Floridians on medicaid or help the ones who still have it be able to utilize it to the level they were able to in the past. That means, even those still on medicaid will have to start paying for stuff they previously did not, meaning they will have less money in their pocket to spend
At the same time goods are costing more, so they can’t buy, they just do without,
This is a recipe for a contracting economy. There is no way tax cuts for wealthy people (heck, any people) are going to generate enough revenue to pay for themselves (and they have to beat that, by a lot, to be worth it and not continue to add to the national debt).
Again, whoever runs for governor for Florida 2026 needs to have their eyes wide open about this and not promise stuff they will not be able to deliver, no matter how much they might actually want to. I do not think Casey D. is the right person for the job at this time.
MH/Duuuval
May 25, 2025 at 10:19 pm
Your analysis sounds about right. Besides being a novice, Mrs. Dee will have a lot of baggage — or will Mr. Dee become Mr. Dad?
Mother Superior Slapshot, Bishop Hedman Academy
May 26, 2025 at 1:53 pm
My goodness me, Miss SuzyQ, listen to you! You use the phrase “You need to more reading” and the term “beloved Governor” while you call someone else “dumb or delusional.”
I don’t know if I should explain the psychological theory of “projection” to you or keep it simple with the pot calling the kettle black. Best to keep it simple, that would be my guess.
And bless your heart.
SuzyQ
May 27, 2025 at 5:52 pm
Your metaphor is projection. Do you understand what fiat currency is lest you do not have a rudimentary understanding of the M1, M2, and M3 money supplies or the Federal Reserve’s Federal Open Market Committee or the meaningful difference between Mises economics and Keynesian?
Ed G
May 28, 2025 at 8:40 am
Suzy, I think you are the one who needs to read more. We don’t need another Desantis. We need someone who will fight the foolish, dangerous actions of our current President. That is, we need someone who understands the needs of the average American in this day and age. Not the needs of the wealthy.
Desanctimonious
May 28, 2025 at 10:32 pm
The theiving Metballs that stole $10 million from Floridians are finished. And sadly it’s not because of bad policy or being in the pockets of the Insurance industry … it’s because they decided to be disloyal to Trump. MAGA’s are a special breed of stupid 🤷♂️
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May 24, 2025 at 12:09 pm
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When in doubt, read the Constitution
May 24, 2025 at 12:50 pm
The legislation fails to acknowledge that the Congress, not states, determine what is legal tender. The Constitution established that when it went into force in 1789. Article I, Section 8, Clause 5: [The Congress shall have Power . . . ] To coin Money, regulate the Value thereof, and…
MH/Duuuval
May 25, 2025 at 10:22 pm
In the age of Trump meme coins and another yuge tax break for the top one percent, the entire monetary system is becoming a crap shoot.
SuzyQ
May 27, 2025 at 5:57 pm
Unfortunately, Congress has abandoned its Constitutional duty in this regard and has delegated it to the unelected Federal Reserve and private money interests. With a dysfunctional Congress, others feel the need to fill the void or provide Congress with the impetus to start doing its job.
Ed G
May 28, 2025 at 8:44 am
You are, of course, speaking about the current Republican congress, which is saying absolutely nothing about all the laws and conventions the Administration is breaking. Is this what you voted for?
Michael K
May 24, 2025 at 5:40 pm
More pandering to the low-info (poorly educated as Trump calls them) crowd.
Sun
May 27, 2025 at 6:53 pm
Now you can bring in a bag of dust and they will weight it for cash
It’s Complicated
May 27, 2025 at 9:05 pm
Are state and local governments going to assume the risks that bullion dealers engage in? Every dealer buys precious metals well-below spot price… is that how government agencies are going to value bullion – 25-35% below spot when the public pays a bill? A practical consideration.
For sure
May 27, 2025 at 9:46 pm
Going back to stem progress and programs..but people want ⛏️ mining
MH/Duuuval
May 28, 2025 at 9:31 am
AG failed to sleuth out who proposed and wrote this legislation — and I don’t mean the MAGA morons who put it forth in the Legislature.
Comments are closed.