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Florida's CFO studies whether state could adopt gold and silver as legal tender
From First Coast News / WTLV-WJXX
Jacksonville, Florida
Wednesday, December 11, 2024
TALLAHASSEE, Florida -- Gold and silver bullion could soon be used as a legal way for Floridians to buy goods and services, the state's Chief Financial Officer Jimmy Patronis said today.
Patronis announced his office is launching a study on how gold and silver can be used as legal tender in the state. Gold and silver can be bought as investments but can't be used to purchase goods and services.
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Eleven U.S. states allow gold and silver as legal tender, including Louisiana, Texas, South Carolina,and West Virginia. Patronis said he wants to add Florida to that list.
In a statement, Patronis' office said the study would be a "major first step" toward the use of gold and silver as money, which, depending on the outcome of the study, could be used as an alternative to U.S. dollars and combat the "devastating" effects of inflation.
"This is an exciting initiative that has the potential for enormous growth in our state," Patronis said. "Gold and silver have been trusted assets for thousands of years, and it makes perfect sense to use them as legal tender. I'm launching this study to determine the best way to get it done." ...
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