Florida's legislature advanced HB 999 on February 6, 2026, aiming to recognize gold and silver coins as legal tender and exempt them from sales tax (Florida House of Representatives bill tracker, accessed February 6, 2026; ZeroHedge article by Tyler Durden, February 6, 2026, 09:45 PM EST). This move, as Paul Craig Roberts explains in his commentary on ZeroHedge (February 6, 2026, 09:45 PM EST), "means that within Florida, there will be a means of payment independent of digital money created by governments for the purpose of controlling the population, it’s behavior, and it’s expressed views, in order that governments can rule via official narratives."
For investors - those monitoring gold and silver prices amid recent volatility, where gold rebounded to above $4,900 per ounce by February 3 after a 16% intraday drop on January 30 (Comex gold futures intraday data, CME Group, February 3, 2026) and silver tested $80 supports on February 5 (LSEG Workspace data cited in The Market Ear, February 5, 2026, 11:19 AM EST) - Florida's initiative highlights gold and silver's potential as alternative currencies. This could impact commerce by providing inflation hedges and independence from digital systems. This analysis explores the bill's details, historical context of gold and silver as currency, potential economic impacts on commerce, precious metals market volatility and gold silver volatility, gold silver price action in 2026, gold silver outlook, gold silver correction risks, gold silver technical analysis, and safe haven demand gold silver.
Florida's HB 999: A Step Toward Independent Currency
Florida's HB 999, introduced in the legislature as of February 6, 2026, seeks to enact prior approval for gold and silver coins as legal tender, exempting them from sales tax (Florida House of Representatives bill tracker, accessed February 6, 2026; ZeroHedge, February 6, 2026, 09:45 PM EST). Roberts writes: "This legislation will exempt gold and silver coins from sales tax in Florida. It also means that within Florida, there will be a means of payment independent of digital money created by governments for the purpose of controlling the population" (ZeroHedge, February 6, 2026, 09:45 PM EST).
This could create a dual system: digital fiat for national use, precious metals for state-level independence. If adopted, Floridians could transact in gold/silver without tax penalties, potentially shielding commerce from inflation (U.S. CPI 3.2–3.5% in 2025, Bureau of Labor Statistics, December 2025 release).
Historical Context: Gold and Silver as the Backbone of Commerce
Roberts provides historical insight: "Throughout history, gold and silver have been the means of payments. The Roman legions were paid in silver coins, the denarius. Estates were purchased for gold" (ZeroHedge, February 6, 2026, 09:45 PM EST). Paper money originated as receipts for gold holdings: "Paper money appeared originally as a receipt on gold holdings... Goldsmiths learned that few ever claimed physical possession of their gold, instead using written notes, in effect checks, to transfer ownership" (ZeroHedge, February 6, 2026, 09:45 PM EST). This led to fractional reserve banking.
In the U.S., Roosevelt confiscated gold in 1933, raising the price from $20 to $35 per ounce (Executive Order 6102, April 5, 1933; Federal Reserve history, accessed February 6, 2026). Silver was legal tender when Roberts was born (1939): "There were one dollar, two dollar, and five dollar Treasury Certificates... exchangeable for silver at the price of one dollar per ounce of silver" (ZeroHedge, February 6, 2026, 09:45 PM EST). Coins like dimes and quarters were silver until 1965 (Coinage Act of 1965, July 23, 1965).
Bretton Woods (1944) made the USD reserve currency, redeemable for gold until the "gold window" closed in 1971 (Nixon announcement, August 15, 1971). Roberts: "Following World War II, the Breton Woods agreement gave the US dollar the world reserve currency role... by demanding gold in exchange for France’s holdings of US debt, President Charles de Gaulle prompted the closing of the “gold window” in the 1970s" (ZeroHedge, February 6, 2026, 09:45 PM EST).
Potential Impact on Commerce: Independence from Digital Control
Roberts warns: "It is possible that if circumstances develop the tyrants in Washington will establish martial law in Florida and dispense with the use of real money in place of digital money" (ZeroHedge, February 6, 2026, 09:45 PM EST). If all states don't adopt, Florida becomes isolated: "Floridians would be unable to make out of state payments and would have to become an economy unto itself" (ZeroHedge, February 6, 2026, 09:45 PM EST).
Impact on commerce: Gold/silver as currency could facilitate tax-free transactions, hedging inflation (U.S. CPI 3.2–3.5% 2025, Bureau of Labor Statistics December 2025). In a digital economy, this resists control: Roberts: "digital money created by governments for the purpose of controlling the population" (ZeroHedge, February 6, 2026, 09:45 PM EST).
Precious metals market: Gold at $4,850–$4,900 (Bloomberg February 4, 2026), silver below $80 (The Market Ear February 5, 2026). Gold silver volatility: Gold 25% implied (CME January 30, 2026), silver 90–100 range (The Market Ear February 5, 2026).
Gold silver price action: Gold rebound 3.5% February 3 (CME February 3, 2026), silver down 13% February 5 (The Market Ear February 5, 2026).
Gold silver correction: Healthy in bull market (ZeroHedge February 2, 2026).
Gold Silver Outlook: Bullish Despite Volatility
Gold silver outlook 2026: Goldman $5,400 gold Dec 2026 (February 2, 2026 note); JPM $6,300 gold (February 2, 2026); BofA $56–$65/oz silver (December 2025).
Safe haven demand gold silver: Queues post-crash (Bloomberg February 2, 2026).
Gold silver technical analysis: Gold support $4,500 (FXStreet January 30, 2026); silver $72 key (The Market Ear February 5, 2026).
Strategies for Canadian Investors
When to buy gold and silver? During dips (Goldman Sachs February 2, 2026).
Conclusion: Florida's Move and Commerce Transformation
Florida's HB 999 could revive real money, impacting commerce by offering independence.
Protect your purchasing power,
CanadianMiningReport.com
Author
Ben McGregor authors the Weekly Roundup at CanadianMiningReport.com, providing sharp analysis of the metals and mining sector. With a talent for spotting trends, Ben distills complex market shifts into clear, engaging insights on TSXV junior miners. His weekly updates cover gold, copper, uranium, and more, blending data-driven perspectives with a knack for identifying opportunities. A vital resource for investors, Ben’s work navigates the dynamic junior mining landscape with precision.