Home / Tokenized assets / Gold & silver sales tax
Gold & silver sales tax by state
Is physical gold and silver bullion or coin taxed where you live? Every row links the official state page we read. Rows we could not confirm on an official page say checking. Data checked Nov 3, 2026. This is not tax advice; confirm with your state before a large purchase.
| State | Status | Rule (which coins and bars) | Effective | Official source |
|---|---|---|---|---|
| Alabama | Exempt | Gold, silver, platinum and palladium bullion and legal-tender coins are exempt. | — | Alabama DOR notice: precious metal bullion exemption (checked Nov 3, 2026) |
| Alaska | No state sales tax | No state sales tax. Since HB 1, local sales taxes cannot apply to gold and silver specie. Change: HB 1 took effect Aug 28, 2026 (City & Borough of Juneau notice). | Aug 28, 2026 | Alaska Legislature HB 1 text (checked Nov 3, 2026) |
| Arizona | Exempt | Precious metal bullion and monetized bullion are exempt (A.R.S. 42-5061). | — | A.R.S. 42-5061 (checked Nov 3, 2026) |
| Arkansas | Exempt | Coins, currency and bullion are on DFA's sales tax exemption list. | — | Arkansas DFA Sales Tax Exemptions (FY2023) (checked Nov 3, 2026) |
| California | Exempt above a minimum | Exempt only when a single transaction of bullion, monetized bullion and numismatic coins totals $2,000 or more (Reg. 1599). Smaller purchases are taxed. | Jul 1, 2023 | CDTFA Regulation 1599 (checked Nov 3, 2026) |
| Colorado | Exempt | Precious metal bullion and coins are exempt from state sales tax. Some home-rule cities set their own rules. | — | Colorado DOR: Coins and Precious Metal Bullion (Feb 2025) (checked Nov 3, 2026) |
| Connecticut | Exempt above a minimum | Today: exempt only for items of $1,000 or more (rare/antique coins, gold or silver bullion, legal tender). Change: From July 1, 2027: the $1,000 minimum is removed, platinum and palladium are added, and gold/silver bullion must be at least 90% pure (PA 25-168). | — | CT DRS 2025 legislative developments (checked Nov 3, 2026) |
| Delaware | No state sales tax | Delaware has no state or local sales tax (sellers pay a gross receipts tax). | — | Delaware Division of Revenue (checked Nov 3, 2026) |
| District of Columbia | Checking | Checking: no explicit official statement on bullion found yet. | — | checking |
| Florida | Exempt | Gold, silver and platinum bullion are exempt at any price. Change: Before Aug 1, 2025 bullion was exempt only over $500. Florida DOR TIP 26A01-08 covers a further change for coins from July 1, 2026. | Aug 1, 2025 | Florida DOR TIP 25A01-03 (checked Nov 3, 2026) |
| Georgia | Exempt | Precious metal bullion and coins are on DOR's sales tax exemption list. | — | Georgia DOR sales tax exemptions list (checked Nov 3, 2026) |
| Hawaii | Checking | Checking: Hawaii has a general excise tax, not a sales tax; no official bullion statement found yet. | — | checking |
| Idaho | Exempt | Precious metal bullion and monetized bullion are exempt (Idaho Code 63-3622V). | — | Idaho Code 63-3622V (checked Nov 3, 2026) |
| Illinois | Exempt | Investment coins and bullion are exempt (Illinois DOR letter ST 21-0006-GIL). | — | Illinois DOR ST 21-0006-GIL (checked Nov 3, 2026) |
| Indiana | Depends on the item | Coins and bullion are exempt if they are permitted IRA investments under 26 U.S.C. 408(m). Other items are taxed. | — | Indiana DOR Sales Tax Information Bulletin 50 (checked Nov 3, 2026) |
| Iowa | Exempt | Bullion and legal-tender coins are exempt (Iowa Code 423.3). | — | Iowa Code 423.3 (checked Nov 3, 2026) |
| Kansas | Exempt | Precious metal bullion and coins are exempt (Notice 19-02). | — | Kansas DOR Notice 19-02 (checked Nov 3, 2026) |
| Kentucky | Checking | Checking: official exemption text not confirmed yet. | — | checking |
| Louisiana | Exempt | Precious metals and coins are excluded from state sales tax (R.S. 47:301(16)(b)(ii)), with conditions in the statute. | — | La. R.S. 47:301 (checked Nov 3, 2026) |
| Maine | Taxed | Taxed. The 2025 bill to exempt bullion (LD 372) did not pass. | — | Maine Legislature LD 372 status (checked Nov 3, 2026) |
| Maryland | Exempt above a minimum | Exempt when the sale price is over $1,000. The rule that the sale must be at the Baltimore Convention Center was removed. Change: Effective July 1, 2026; approved May 26, 2026. | Jul 1, 2026 | Maryland 2026 Laws Ch. 729 (checked Nov 3, 2026) |
| Massachusetts | Exempt above a minimum | Exempt when the sale is $1,000 or more: rare coins, gold or silver bullion or coins, and gold or silver legal tender. | — | Mass. FY27 Tax Expenditure Budget 3.108 (checked Nov 3, 2026) |
| Michigan | Exempt | Investment coins and bullion are exempt (MCL 205.54s). | — | MCL 205.54s (checked Nov 3, 2026) |
| Minnesota | Depends on the item | Bars and rounds of 99.9% or more gold, silver, platinum or palladium are exempt. Coins are not covered by this exemption. | — | Minn. Stat. 297A.67 subd. 34 (checked Nov 3, 2026) |
| Mississippi | Exempt | Precious metal bullion and coins are exempt (2023 SB 2862). | — | Mississippi DOR 2023 legislation (checked Nov 3, 2026) |
| Missouri | Exempt | Bullion and investment coins are exempt from state and local sales tax (RSMo 144.815). | Aug 28, 2001 | RSMo 144.815 (checked Nov 3, 2026) |
| Montana | No state sales tax | Montana does not have a general sales tax. | — | Montana DOR sales tax guidance (checked Nov 3, 2026) |
| Nebraska | Exempt | Currency and bullion are exempt. Bullion means coins, bars, ingots, notes, leaf, foil, film or commemorative medallions of gold, silver, platinum or palladium valued mainly for their metal (Neb. Rev. Stat. 77-2704.66). Change: LB 1317 (2024 slip law, nebraskalegislature.gov/FloorDocs/108/PDF/Slip/LB1317.pdf) amended 77-2704.66 to this wording. | — | Neb. Rev. Stat. 77-2704.66 (checked Nov 3, 2026) |
| Nevada | Depends on the item | Tax applies to bullion sold at a premium for purposes other than use as a medium of exchange (NAC 372.170). Ask the seller or the Department. | — | NAC 372.170 (checked Nov 3, 2026) |
| New Hampshire | Checking | Checking: official "no general sales tax" page not fetched yet. | — | checking |
| New Jersey | Depends on the item | Investment metal bullion is exempt. Investment coins are exempt only if each coin is worth $1,000 or more. | — | NJ Division of Taxation: investment bullion and coins (checked Nov 3, 2026) |
| New Mexico | Taxed | Taxed (gross receipts). The 2025 exemption bill, SB 382, did not pass. | — | NM Legislature SB 382 (2025) (checked Nov 3, 2026) |
| New York | Exempt above a minimum | Investment bullion is exempt when one invoice totals more than $1,000 and you hold it in the same form. Smaller sales are taxed. | — | NY TSB-M-89(20)S (checked Nov 3, 2026) |
| North Carolina | Exempt | Bullion and investment coins are exempt per NCDOR's bulletin. | — | NCDOR Sales and Use Tax Bulletins (2026) (checked Nov 3, 2026) |
| North Dakota | Exempt | Legal-tender coins and currency, and bullion refined to 999 purity or more, are exempt (NDCC 57-39.2-04). | — | NDCC ch. 57-39.2 (checked Nov 3, 2026) |
| Ohio | Exempt | Investment bullion and coins are exempt (R.C. 5739.02(B)(57)). | — | Ohio R.C. 5739.02 (checked Nov 3, 2026) |
| Oklahoma | Exempt | Sales of gold, silver, platinum, palladium or other bullion and coins are exempt (68 O.S. 1357, item 42). | — | 68 O.S. 1357 (item 42) (checked Nov 3, 2026) |
| Oregon | No state sales tax | Oregon does not have a general sales or use tax. | — | Oregon DOR: Sales tax in Oregon (checked Nov 3, 2026) |
| Pennsylvania | Exempt | Investment metal bullion and investment coins are listed nontaxable. | — | Pa. Bulletin 55-23 taxability list (checked Nov 3, 2026) |
| Rhode Island | Exempt | Precious metal bullion is exempt (R.I.G.L. 44-18-30(24)). | — | R.I.G.L. 44-18-30 (checked Nov 3, 2026) |
| South Carolina | Exempt | Legal tender and bullion are exempt (S.C. Code 12-36-2120(70)). | — | S.C. Code 12-36-2120 (checked Nov 3, 2026) |
| South Dakota | Exempt | Coins, currency and bullion are exempt (SDCL 10-45-110). | — | SDCL 10-45-110 (checked Nov 3, 2026) |
| Tennessee | Exempt | All coins, currency and gold, silver, platinum and palladium bullion are exempt (Public Chapter 1092). | May 27, 2022 | TN DOR Notice 22-08 (checked Nov 3, 2026) |
| Texas | Exempt | Precious metal bullion and coins are exempt (HB 78, 2013). | — | Texas HB 78 (83R) enrolled text (checked Nov 3, 2026) |
| Utah | Exempt | Legal-tender coins and currency are exempt, as are certain gold, silver and platinum items (Utah Code 59-12-104(50)-(51)). | — | Utah Code 59-12-104 (checked Nov 3, 2026) |
| Vermont | Taxed | Taxed. The exemption bill H.711 did not pass. | — | Vermont Legislature H.711 status (checked Nov 3, 2026) |
| Virginia | Exempt | Bullion and legal-tender coins are exempt. Change: The exemption now ends July 1, 2028 (was July 1, 2026) under 2026 HB 30 item 3-5.22. | Jul 1, 2026 | Virginia Tax 2026 legislative summary (checked Nov 3, 2026) |
| Washington | Taxed | Bullion bars and coins are taxable. Change: Before Jan 1, 2026 these sales were exempt. | Jan 1, 2026 | Washington DOR: currency, coins and precious metal bullion (checked Nov 3, 2026) |
| West Virginia | Exempt | Precious metal bullion and coins are exempt (W. Va. Code 11-15-9r). | — | W. Va. Code 11-15-9r (checked Nov 3, 2026) |
| Wisconsin | Exempt | Precious metal bullion and coins are exempt. Change: 2025 Act 124 removed the exemption certificate requirement. | — | Wisconsin 2023 Act 149 (checked Nov 3, 2026) |
| Wyoming | Checking | Checking: sales-tax exemption text not confirmed yet. | — | checking |
Still checking
District of Columbia, Hawaii, Kentucky, New Hampshire, Wyoming: we have not yet confirmed these on an official page.
Federal tax when you sell
The IRS treats gold and silver as collectibles; long-term gains are taxed at up to 28%. Source: IRS Topic 409 (checked Nov 3, 2026).
Common questions
Do I pay sales tax on gold and silver?
It depends on your state. In our table, 29 states fully exempt bullion and coins, 5 exempt purchases only above a minimum (CA $2,000+, CT/MA $1,000+, MD and NY over $1,000), 4 depend on the item, 4 tax them, and 4 have no state sales tax. Each row links the official source.
Which states changed gold and silver sales tax in 2025-2027?
Florida exempted bullion at any price from Aug 1, 2025. Washington started taxing bullion and coins on Jan 1, 2026. Maryland's over-$1,000 exemption no longer requires a Baltimore Convention Center sale from July 1, 2026. Virginia extended its exemption to July 1, 2028. Alaska barred local tax on gold and silver specie from Aug 28, 2026. Connecticut drops its $1,000 minimum on July 1, 2027.
Is tokenized gold (PAXG) taxed like physical gold?
State bullion exemptions are written for physical metal. We have not found an official state ruling on tokenized gold, so treat it as unconfirmed. Federally, the IRS treats gold as a collectible (see IRS Topic 409).
How is gold taxed when I sell it?
Federally, gains on gold and silver held over a year are collectibles gains, taxed at up to 28% (IRS Topic 409). Sales tax is a separate, state-level question.
Can I buy tokenized gold (PAXG) in my state? Use the tokenized checker →
Get a weekly email when apps change where they work
One short note when an exchange enters or leaves a state. Free, unsubscribe anytime.
Subscribe free →