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The new law builds on Article I, Section 10 of the U.S. Constitution, which allows states to "make gold and silver coin a tender in payment of debts." Representative Doug Bankson (R-Apopka), the bill's sponsor, illustrated the inflation protection aspect by noting that while a home that cost $75,000 in 1979 now costs $531,000, the same home would still cost approximately 268 ounces of gold in both time periods...
Both U.S.-minted and foreign coins that meet purity standards qualify, providing flexibility for coin collectors and investors who hold diverse precious metals portfolios. Each qualifying piece must be stamped with its weight, purity, and may include refiner or mint identification marks.
Here is the link for to that article.
Florida Gold & Silver Legal Tender Law: Tax-Free in 2026
No one is required by law to accept legal tender, cash or whatever, in payment. That surprised me. I always thought that was the point of legal tender, but it doesn't seem to be the case. So this law does not require anyone to accept gold coins as payment, however if both parties agree, they can use gold coins. I'm struggling with understanding the point of declaring something legal tender when there is no requirement or enforcement mechanism.
I've had people refuse to accept coins because they were off color or something, and I had one person refuse to take a fifty-cent piece. I've had cashiers that didn't know what a Kennedy 50 cent coin was, and one that wouldn't accept it. It is surprising how many $2 bills have been printed but have never seen one in circulation. No one seems to spend them. Hand one to a cashier, and there is a good chance you'll get at least a strange look.
In FY 2023, 128,000,000 $2 bills were printed, and in 2022, 108,352,000 were printed, while none were printed in 2021 and 2022. That still seems like a lot of $2 bills out there somewhere.
A couple days ago I posted about the best places where you can sell your coins online. There were some obvious choices, but also a couple that I did not know. One of those is ModernCoinMart.com, which I decided to investigate.
It seems to be a good site for buying, but it wasn't obvious how you could sell to them. After a good bit of searching, I found the following in the frequently asked questions.
Does ModernCoinMart buy coins?Yes, ModernCoinMart does buy coins. Please email Support@ModernCoinMart.com for further questions and inquiries about selling your items.
I guess if you are interested and want to contact their customer support line, it might turn out to be good, but I'd have to research that more to say.
APMEX.com buys coins and other things such as metals and jewelry, however if I interpret it correctly, the minimum is $1000.00. Here is what that site says.
Before submitting your quote to APMEX, please review the necessary information our Purchasing Department requires.
If I correctly interpret the wording on their site, they have a minimum purchase of $1000.00.
And here is the instructions for selling to them.
Step-by-step selling process:
Let us know what you want to sell and the quantity. If you request a quote online, you’ll receive an offer in less than two business hours and can complete your order online. If you prefer a personal conversation, call our team at (800) 514-6318.
After we confirm your products and quantities, we’ll quote your price and lock it in online or over the phone. Once your price is locked, you’re protected from market changes while your metals are in transit. If you’d like to trade into another product on APMEX.com, we can discuss that at this stage.
When you use APMEX Logistics, we’ll email you prepaid shipping labels and clear packing instructions. Pack your items in a new, unmarked box. If the packing instructions are not followed, APMEX Logistics insurance coverage may be impacted in the unlikely event of loss or damage.
After packing, drop off your shipment at the approved carrier location shown on your APMEX Logistics label. Carriers may refuse packages that are not securely packed. If you do not ship within two business days of creating the order or cancel the transaction, the Market Loss Policy you agreed to at account setup will apply.
Note: If you must reuse a box, remove or cover any markings that suggest hazardous or dangerous contents, as they may affect coverage.
When your shipment arrives, our Receiving team verifies the products and quantities and authenticates each item using our internal processes. Our Numismatic team is available to review collectible pieces if needed.
Once we receive your full order, we process and release payment quickly. VIP and Elite Bullion Club members are paid one business day after the EPO is processed. Other Bullion Club members and nonmembers are paid within two business days after EPO processing.
Request a quote for your products today
Before submitting your quote to APMEX, please review the necessary information our Purchasing Department requires. Please also keep in mind that our minimum buyback is $1,000, we do not purchase raw ungraded pennies, jewelry items (rings, necklaces, etc..) and unrefined precious metals (dust, nuggets, etc...)
I tried to find reviews and found a summary of 8000 on APMEX Reviews 2026: What 8,000+ Customer Ratings Reveal which said they got only 1.5 out of 5 stars. Not that good. Some comments indicated they were very slow.
Good hunting,
Treasureguide@comcast.net