Precious Metals Sales Tax by State

Precious metals sales tax rules vary by state. Many US states exempt gold and silver bullion from sales tax. Understanding your state's rules can save you 5–10% on every purchase.

States with Full Precious Metals Tax Exemption (2026)

Texas, Florida, Arizona, Colorado, Georgia, Montana, Oregon, New Hampshire, North Carolina, Utah, South Carolina, Oklahoma, Missouri, Minnesota, Louisiana, Kansas, Iowa, Indiana, Idaho, Wisconsin, Wyoming, Virginia, Vermont (partial), Rhode Island, Pennsylvania, North Dakota, Nevada (coins only), New Mexico (coins only), Nebraska (some), and others. Laws change — verify before purchasing.

Federal Capital Gains Tax on Gold

• IRS classifies gold and silver as collectibles
• Long-term capital gains rate: maximum 28% (vs 20% for stocks)
• Short-term gains (under 1 year): taxed as ordinary income
• IRS Form 1099-B required for certain sales above reporting thresholds