Gold & Silver Bullion Sales Tax by State: 2026 Update
Gold & Silver Bullion Sales Tax by State: 2026 Update
Do you pay sales tax when buying physical gold or silver bullion? The answer depends on your state, the product being purchased, the dollar amount of the transaction, and in many cases, where the order is shipped.
This article was originally written several years ago, and the tax landscape has changed quite a bit since then. More states have moved toward exempting investment-grade precious metals, coins, and bullion from sales tax. However, a few states still tax these purchases, and several others have partial exemptions or purchase thresholds that matter.
Table of contents
- Gold & Silver Bullion Sales Tax by State: 2026 Update
- Jurisdictions Where Bullion Buyers Should Be Extra Careful
- States With Partial Exemptions or Thresholds
- Gold and Silver Bullion Sales Tax by State
- Online Purchases: The Shipping Address Matters
- Sales Tax Is Separate From Capital Gains Tax
- Where To Buy Physical Gold or Silver
- Frequently Asked Questions
Generally speaking, bullion sales tax rules may differ depending on whether you are buying:
- Gold bullion
- Silver bullion
- Platinum or palladium bullion
- Legal tender coins
- Numismatic or collectible coins
- Rounds, bars, or ingots
- Jewelry, scrap metal, or accessories
That last point is important. This article is about physical precious metals purchased as bullion, coins, or currency. Jewelry is often treated differently for sales tax purposes.
Jurisdictions Where Bullion Buyers Should Be Extra Careful
As of this 2026 update, most states either have no statewide sales tax or provide a full or partial sales tax exemption for qualifying gold and silver bullion, coins, or currency.
The shorter list of places where tax may still apply, or where the rules have recently changed, includes:
- Hawaii
- Maine
- New Mexico
- Vermont
- Washington
- Washington, D.C.
- Maryland, especially for purchases before July 1, 2026
Some of these jurisdictions do not use a traditional sales tax structure. For example, Hawaii uses a General Excise Tax, while New Mexico uses a gross receipts tax. Others may have recent legislative changes, narrow exemptions, or special product definitions. Always verify the current rule before making a large purchase, especially if you are buying online and shipping across state lines.
States With Partial Exemptions or Thresholds
Some states do not simply say “taxed” or “not taxed.” Instead, they exempt certain precious metals purchases only if the transaction meets specific requirements.
For example, some states may exempt gold and silver bullion only when the purchase is over a certain dollar amount. Others may distinguish between legal tender coins, refined bullion, collectible coins, or other precious metal products.
This is why a state-by-state bullion tax list can be tricky. A state may be “tax-free” for a large purchase of gold or silver bullion, but still tax a smaller purchase, jewelry, accessories, or collectible items that do not meet the exemption definition.
Gold and Silver Bullion Sales Tax by State
The table below is a general 2026 overview of whether gold and silver bullion purchases are typically subject to sales tax. Rules vary by state, and product definitions matter. Coins, rounds, bars, jewelry, accessories, numismatic coins, collectible coins, platinum, palladium, copper, and altered products may be treated differently.
For online purchases, sales tax is usually based on the shipping destination.
Important note: Sales tax rules for gold, silver, coins, and bullion can change, and the details vary by state. Product type, purity, purchase amount, collectible value, and shipping destination may all affect whether tax applies. This table is intended as a general reference only, not tax or legal advice. Always verify the current rule with your dealer, state revenue department, or tax professional before making a large purchase.
| State | Gold/Silver Bullion Sales Tax Status | Important Note |
|---|---|---|
| Alabama | Generally exempt | Qualifying bullion is generally exempt; collectible coins, copper, accessories, and altered products may be taxable. |
| Alaska | No statewide sales tax | Alaska has no state sales tax, but some local sales taxes may apply. |
| Arizona | Generally exempt | Qualifying precious metals bullion is generally exempt. |
| Arkansas | Generally exempt | Qualifying gold and silver bullion is generally exempt. |
| California | Partial exemption | Gold/silver bullion, monetized bullion, and numismatic coins are generally exempt only when the single transaction is $2,000 or more. |
| Colorado | Partial/local issue | Qualifying bullion and legal-tender coins may be exempt from state sales tax, but home-rule/local taxes may vary. |
| Connecticut | Generally exempt | Qualifying precious metals bullion is generally exempt. |
| Delaware | No sales tax | Delaware has no state sales tax. |
| District of Columbia | Taxable | D.C. generally taxes precious metals purchases. |
| Florida | Generally exempt | Gold, silver, and platinum bullion are generally exempt with no minimum purchase threshold; palladium may be treated differently. |
| Georgia | Generally exempt | Gold, silver, and platinum bullion are generally exempt; palladium and accessories may be taxable. |
| Hawaii | Taxable | Hawaii generally applies its General Excise Tax to precious metals purchases. |
| Idaho | Generally exempt | Qualifying precious metals bullion is generally exempt. |
| Illinois | Partial exemption | Gold, silver, and platinum bullion may be exempt if purity/product rules are met; palladium and some coins may be taxable. |
| Indiana | Partial exemption | Qualifying bullion and certain legal-tender coins may be exempt, but purity rules matter. |
| Iowa | Generally exempt | Qualifying precious metals bullion is generally exempt, but product definitions matter. |
| Kansas | Partial exemption | Gold and silver bullion/coins are generally exempt; platinum and palladium may be taxable. |
| Kentucky | Generally exempt | Qualifying precious metals bullion is generally exempt. |
| Louisiana | Partial/local issue | Qualifying bullion may be exempt from state sales tax, but local parish taxes may still apply. |
| Maine | Taxable | Maine generally taxes precious metals purchases. |
| Maryland | Changing July 1, 2026 | Taxable under the narrowed 2025 rule until July 1, 2026, after which qualifying precious metal bullion or coins are generally exempt, and the old sale-price and Baltimore Convention Center limitations are removed. |
| Massachusetts | Partial exemption | Gold/silver bullion, coins, and certain numismatic items are generally exempt only when the sale is $1,000 or more. |
| Michigan | Partial exemption | Qualifying gold, silver, and platinum bullion may be exempt if purity requirements are met. |
| Minnesota | Partial exemption | Certain high-purity bars and rounds may be exempt; coins are commonly treated differently. |
| Mississippi | Generally exempt | Qualifying precious metals bullion is generally exempt. |
| Missouri | Generally exempt | Qualifying precious metals bullion is generally exempt. |
| Montana | No sales tax | Montana has no state sales tax. |
| Nebraska | Generally exempt | Qualifying bullion may be exempt; legal-tender/product definitions matter. |
| Nevada | Partial exemption | Qualifying bullion may be exempt; non-legal-tender coins and accessories may be taxable. |
| New Hampshire | No sales tax | New Hampshire has no state sales tax. |
| New Jersey | Generally exempt / partial for coins | Qualifying investment metal bullion is generally exempt. Investment coins have separate rules, including a $1,000 fair-market-value requirement for the individual coin. |
| New Mexico | Taxable | New Mexico generally applies gross receipts tax to precious metals purchases. |
| New York | Partial exemption | Exemption generally depends on a $1,000+ transaction and premium-over-spot limits. |
| North Carolina | Generally exempt | Qualifying refined bullion valued primarily for metal content is generally exempt. |
| North Dakota | Partial exemption | Qualifying bullion generally must meet purity requirements. |
| Ohio | Generally exempt | Qualifying precious metals bullion and coins are generally exempt. |
| Oklahoma | Generally exempt | Qualifying precious metals bullion is generally exempt. |
| Oregon | No sales tax | Oregon has no state sales tax. |
| Pennsylvania | Generally exempt | Qualifying bullion and legal-tender coins are generally exempt. |
| Rhode Island | Generally exempt | Qualifying refined bullion valued primarily for metal content is generally exempt. |
| South Carolina | Partial exemption | Gold, silver, and platinum bullion and legal-tender coins may be exempt; palladium and accessories may be taxable. |
| South Dakota | Generally exempt | Most bullion valued primarily for metal content is generally exempt; numismatic coins may be taxable. |
| Tennessee | Generally exempt | Qualifying gold, silver, platinum, and palladium bullion is generally exempt. |
| Texas | Generally exempt | Qualifying gold and silver bullion and coins are generally exempt. |
| Utah | Generally exempt | Qualifying bullion and legal-tender coins are generally exempt. |
| Vermont | Taxable | Vermont generally taxes precious metals purchases. |
| Virginia | Exemption expiring | Qualifying bullion and legal-tender coins are exempt through June 30, 2026; tax may resume July 1, 2026 unless extended. |
| Washington | Taxable | Precious metal bullion and monetized bullion became taxable Jan. 1, 2026. |
| West Virginia | Generally exempt | Qualifying investment precious metals bullion and coins are generally exempt. |
| Wisconsin | Generally exempt | Qualifying bullion is generally exempt if it meets Wisconsin’s precious-metal content rules. |
| Wyoming | Generally exempt | Qualifying bullion and legal-tender coins are generally exempt. |
Always verify the tax treatment at checkout or with the state revenue department before making a large purchase. This table is a general guide, not tax advice.
Online Purchases: The Shipping Address Matters
For online bullion purchases, sales tax is generally based on the destination where the product is shipped, not necessarily where the dealer is located.
That means your state’s rules matter even when you buy from an out-of-state precious metals dealer. If your state taxes a certain type of bullion purchase, that tax may be collected at checkout. If it is not collected, you may still have a use-tax obligation depending on your state’s rules.
Sales Tax Is Separate From Capital Gains Tax
This article is focused on sales tax at the time of purchase.
That is separate from any tax consequences when you later sell gold, silver, or other precious metals. In other words, avoiding sales tax when you buy bullion does not necessarily mean there are no tax considerations when you sell it later.
Where To Buy Physical Gold or Silver
Disclosure: GoldenEagleCoin.com is a sponsor of Modern Survival Blog.
When buying physical gold or silver, I look for a long-established precious metals dealer with clear product listings, transparent pricing, and a wide selection of bullion coins, rounds, and bars. Golden Eagle Coin has been in business since 1974 and offers gold, silver, platinum, palladium, coins, rounds, and bullion.
When comparing dealers, look at more than the spot price alone. Consider the premium over spot, shipping, insurance, payment method, dealer reputation, and whether sales tax applies based on your shipping state.
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Frequently Asked Questions
It depends on the state, the type of gold product, the dollar amount of the purchase, and where the order is shipped. Many states exempt qualifying gold bullion or legal tender coins, but not all do.
In many states, qualifying silver bullion is exempt from sales tax. However, some states still tax silver bullion, and others have special thresholds or product definitions.
Not always. Some states distinguish between legal tender coins, collectible coins, bullion bars, rounds, and numismatic products. Check the specific rule for your state before making a large purchase.
Usually not. Jewelry is commonly taxed differently than investment-grade bullion, coins, or currency. A state may exempt gold and silver bullion while still taxing jewelry.
Usually, sales tax is based on the shipping destination. If your state taxes the product being purchased, the dealer may collect sales tax at checkout. If tax is not collected, your state may still require use tax.
When silver was well over $100 I frantically searched online to sell enough to cover the investment. All the big dealers were suddenly not able to deal because of various excuses; such as “bad weather is keeping our offices operating at a minimum”. One even told me that they weren’t buying at all. Be prepared to sell, find a buyer beforehand, don’t try to sell at the top. I’m not knowledgeable on securely mailing silver, gold. Is one better selling at a street vendor?
So California – “generally exempt only when the single transaction is $2,000 or more.”
What happened to taxing the rich?