In 1933, then-President Franklin D. Roosevelt signed the Gold Reserve Act, which prohibited private ownership of gold coins and bullion. However, on May 27, Florida Governor Ron DeSantis signed a new law allowing residents to use gold and silver in everyday transactions, signaling a potential return to the gold standard.

DeSantis stated that the move aims to protect Floridians from the devaluation of the dollar. Precious metals serve as a hedge against currency depreciation, particularly in light of ongoing federal deficits.

Under the new law, any gold or silver coins that meet specific purity standards can be used for payment, making Florida the first major state in the U.S. to pass such legislation. DeSantis noted, "This law is fundamentally based on the Constitution of the United States."

The legislation allows payment processors, such as check cashing services or PayPal, to accept gold and silver for transactions. He believes this measure provides taxpayers with financial stability and security, positioning Florida as a model for the gold standard in economic freedom and opportunity.