In the U.S., this era ended in 1971, when President Nixon severed the dollar's final ties to gold, cementing fiat currency's dominance.

Now, in a surprising twist, some U.S. states are reintroducing gold as legal tender. In a climate of geopolitical tensions, economic uncertainty, and rising concerns over dollar collapse, gold is regaining popularity, not just as an investment, but as a means of exchange. What could it mean for the future of money?

Which states are adopting precious metals as legal tender?

Today, 11 states, including Texas, Utah, and Wyoming, accept gold and silver as legal tender. Florida is now joining this list: Governor DeSantis has signed a bill designating gold and silver coins as currency alongside the U.S. dollar. The new law comes into effect on July 1, 2026, and applies to gold and silver coins meeting certain purity standards (99.5% for gold and 99.9% for silver.)

Florida's legislation is one of the biggest state-level moves so far to reintroduce gold and silver bullion into mainstream economy. In a press conference, Gov. DeSantis said this move will "authorize money services businesses like PayPal to transmit and accept payment in gold and silver." According to DeSantis, the law aims for "the financial freedom to protect yourself against the declining value of the dollar."

States that currently accept gold and silver as legal tender

Arizona

Indiana

Kansas

Louisiana

Oklahoma

South Carolina

Tennessee

Texas

Utah

West Virginia

Wyoming