I wasn’t sure how this would work when I first read the headline, but the details are intriguing: you can save serious money in taxes on a house or car purchase?

Gold and Silver Now Legal Tender in Florida
Armstrong Economics | 30 May 25 | Martin Armstrong

… Florida is not the first state to declare gold and/or silver legal tender. Utah passed the Utah Legal Tender Act of 2011, which declared coins of either metal legal tender. Oklahoma passed Senate Bill 862 in 2014, recognizing U.S.-minted gold and silver coins as legal tender and exempting them from taxation. Kansas and West Virginia have similar policies. Texas has recognized these coins as legal tender and enacted legislation to protect them from state seizure. Wyoming treats gold and silver as currency and has exempted it from sales tax. South Carolina and Louisiana have similar policies.

Florida’s approach is a bit more structured. Gold coins must be at least 99.5% pure and silver coins at least 99.9% pure to qualify as legal tender. The weight and purity must be imprinted on the metal with the name or symbol of the mint refiner. Both will be exempt from sales tax.

The state government may choose to accept silver and gold coins for payments on taxes, dues, charges, and debts. Yet, these transactions must be done electronically, and the coins will be held by a public depository while processing.

So, no lugging around bags with “$” written on the side.

Will Floridians see people using silver coins to check out at the grocery store? No.

… The law entails that payments in gold and silver coinage are entirely optional, and no person or business is required to accept them in payments. Merchants will not be required to attain knowledge on metal purity or have scales behind the cash register. The difference now is that businesses are allowed to accept them if they choose to do so. There are numerous tax benefits to choosing metal over cash.

If John Doe wants to purchase a boat from a dealership with gold, for example, the dealership must voluntarily accept the coinage but is in no way obligated to do so. Then the dealership has the burden of verifying the spot price of gold or silver rather than the state. However, if you go to a bank to cash a check, the bank will have the ability to offer clients payments in gold or silver coinage rather than cash. Another aspect to consider is that Florida will no longer add a sales tax on transactions in gold and silver, lowering the cost for businesses and consumers by around 6%.

They didn’t mention using gold coins in vending machines, parking meters or — hmm — slot machines? — but I think people will figure that out through trial and error.