Gold and silver coin as legal tender

# (1)

DEFINITIONS.—As used in this section, the term:

# (a)

“Debt” means an obligation for the payment of money under express contract.

# (b)

“Electronic transfer” means any instruction, other than a transaction by check, draft, or similar paper instrument, which is initiated through debit card, mobile application, or computer to order, instruct, or authorize a financial institution as defined in s. 655.005(1)(i) or a money services business as defined in s. 560.103 to debit or credit an account with gold coin or silver coin or any fraction thereof, or the equivalent coin or currency of the United States or foreign currency converted at current market price. An “electronic transfer” includes, but is not limited to, an instruction in a debit card transaction that authorizes the debit or credit of an account in a single, integrated step at the point of sale.

# (c)

“Gold coin” means 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. The term does not include any goods as defined in s. 672.105(1), such as jewelry; other items of utility, such as picture frames; or collectibles.

# (d)

“Governmental entity” means a state, regional, county, municipal, special district, or other political subdivision, whether executive, judicial, or legislative, including, but not limited to, a department, a division, a board, a bureau, a commission, an authority, a district, or an agency thereof, or a public school, a Florida College System institution, a state university, or an associated board.

# (e)

“Legal tender” means a medium of exchange recognized by this state pursuant to s. 10, Art. I of the United States Constitution as a valid and legal offer of payment for debts when tendered to a creditor that agrees to receive such medium of exchange.

# (f)

“Silver coin” means 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. The term does not mean any goods as defined in s. 672.105(1), such as jewelry; other items of utility, such as picture frames; or collectibles.

# (2)

LEGAL TENDER.—Gold coin and silver coin that meet the requirements of this section are recognized as legal tender by this state for the payment of debts incurred on or after July 1, 2026.

# (a)

Gold coin or silver coin recognized as legal tender in this section may not be imprinted, stamped, or otherwise marked with any name, symbol, or other information or design, including, but not limited to, any suggestion that such coin has been minted or issued by any government, except that such coin must be imprinted, stamped, or otherwise marked with the coin’s weight and purity and may be imprinted, stamped, or otherwise marked with the name or symbol that identifies any refiner or mint of the gold coin or silver coin. A gold coin or silver coin that does not meet the requirements of this paragraph is not recognized as legal tender for the payment of debts in this state.

# (b)

This section may not be construed to restrict the electronic transfer of gold coin or silver coin as tender for the payment of a debt.

# (c)

This section may not be construed as altering the legal tender status of any United States coins or currency that has been prescribed as legal tender under federal law. Such coins or currency do not fall within the scope of this section, and this section does not reauthorize or redesignate such coins or currency as legal tender. To the extent that any gold coin or silver coin minted or issued by the United States or a foreign government falls within the definitions in this section, federal law recognizing whether the foreign or United States minted or issued coins are legal tender, including any United States coins denominated in United States dollars, shall prevail.

# (d)

This section may not be construed to prohibit or limit the tender, acceptance, or use of Federal Reserve notes in the payment of debts.

# (e)

A person or an entity, including any governmental entity, may not be required to offer or accept any recognized legal tender as described in this subsection for the payment of a debt, deposit, or any other purpose. A person or an entity, including any governmental entity, may not incur any liability for refusing to offer or accept such legal tender, except as specifically provided for by contract.

# (3)

GOVERNMENT IMPLEMENTATION.—A governmental entity may accept gold coin or silver coin for the payment of taxes, charges, or dues levied by the state or local government or any subdivision thereof. However, a governmental entity may tender or accept gold coin or silver coin as payment for debts, taxes, charges, or dues only by electronic transfer and may not tender or accept gold coin or silver coin in physical form.

# (a)

Each governmental entity that chooses to tender or to accept payment of gold coin or silver coin must enter into a written contract procured through competitive bidding with a qualified public depository as defined in s. 280.02.

# (b)

Unless otherwise provided in chapter 280, a custodian of gold coin or silver coin as defined in s. 560.103 which holds gold coin or silver coin as public deposits must meet the requirements for a qualified public depository under chapter 280.

# (c)

A governmental entity that tenders or accepts gold coin or silver coin as payment of debts, taxes, charges, and dues by one of the exemptions listed in s. 280.03(3) need not comply with this subsection for purposes of tendering or accepting such gold coin or silver coin.

¹Note.—A. Effective July 1, 2026, “upon legislative ratification of rules of the Financial Services Commission and the Chief Financial Officer as provided in section 17 of [ch. 2025-100].” Section 18(1), ch. 2025-100, provides that “[t]o avoid this act taking effect before the required rules have been adopted and ratified, this act shall stand repealed on June 30, 2026, unless reviewed and saved from repeal through reenactment by the Legislature after ratification of the required rules.”B. Section 17, ch. 2025-100, provides:“(1) The Chief Financial Officer shall adopt rules to implement s. 280.21, Florida Statutes, as created by this act. The Financial Services Commission shall adopt rules to implement any provisions in chapter 560, Florida Statutes, or chapter 655, Florida Statutes, as created or amended by this act, including, but not limited to, ss. 560.155, 560.214, and 655.97, Florida Statutes. Such rules must be adopted by November 1, 2025, and submitted to the President of the Senate and Speaker of the House of Representatives on or before November 1, 2025, in the report specified in section 16. Such rules may not take effect until they are ratified by the Legislature. The Chief Financial Officer and the Financial Services Commission shall notify the Division of Law Revision upon legislative ratification of such rules.“(2) This section is effective upon becoming a law solely for the purpose of adopting the rules required under this section, but such rules may not be implemented until such rules are ratified by the Legislature and until such time that the provisions for which the rules are adopted become law.”