Bullion and Collectible State Sales Tax

If you're interested in understanding how state sales tax could impact your ITM Trading order, simply select the state from the list above. Ensure to review the tax rates for the state where your order will be delivered, rather than your residence. Please be aware that while we aren't presently collecting sales tax in all states, this may evolve in the future with the expansion of sales tax laws.

When making purchases through ITM Trading, it's important to note that state sales tax regulations are applicable to orders dispatched within specific states. Within these states, some impose sales tax solely on jewelry or non-precious metal items, while others mandate tax collection irrespective of the items in your order. As each state enforces varying sales tax rates based on the items purchased, ITM Trading recommends reviewing the applicable state below prior to your purchase to ascertain the exact charges applicable to your transaction.

Alabama

Alabama exempts sales and use tax on bullion, including coins, as well as money, gold, silver, and platinum through May 31, 2028. The exemption also applies to a combination of any of these metals.  To qualify, the bullion must be refined, contain at least 80% of the precious metal, and have a sales price that fluctuates with the market price of the metal. The exemption does not apply to jewelry or works of art.

Alaska

Alaska is one of the few US states that does not charge a state sales tax, so precious metal purchases are typically exempt from taxation. This includes bullion and numismatic coins in populated areas like Anchorage, where most of Alaska's precious metal dealers are located. However, cities and boroughs in Alaska may have their own rules and levy local sales taxes. In January 2023, House Bill 3 was introduced to exempt gold and silver coins and bullion from local sales and use taxes.

Arizona

Arizona does not tax precious metals, including coins, bars, and basic bullion, with sales tax. This is because precious metals are considered monetized bullion, which is defined as any form of precious metal coin, bar, or round that is issued as legal tender or a medium of exchange by a government. However, local authorities may add additional taxes.

Arkansas

Arkansas does not tax the purchase, sale, or exchange of specie, which includes gold and silver coins, refined gold and silver bullion, and other items valued primarily by their metal content.  This includes sales tax, use tax, and capital gains taxes. The law went into effect on August 1, 2023, making gold and silver legal tender in the state.

California

California sales tax is collected on specific products listed below:

• Non-monetized Bullion.
• Monetized Bullion, Non-monetized gold or silver bullion, or numismatic coins less than $2,000 USD.
• Accessory Items.
• Processed Items.

Colorado

Colorado does not tax the sale of precious metal bullion or coins that are legal tender in the United States or a foreign country. This exemption applies to state, regional, county, and state-collected local taxes. However, numismatic pieces (collectible coins) that are not considered legal tender may be taxed if their value extends beyond that of their precious metal content. Additionally, jewelry and commemoratives containing precious metals are still subject to sales tax.

• Numismatic coins that are not, and never were, used as currency or mediums of exchange.
• Accessory Items.
• Processed Items.

All other products are exempt from sales tax in Colorado.

Connecticut

As of January 1, 2026, Connecticut does not impose sales tax on qualifying precious metals bullion, including qualifying gold, silver, platinum, and palladium bullion.

• Gold and silver bullion must have a fineness of at least 90% to qualify.
• Taxable items include copper products, numismatic or collectible coins, accessories, and processed or altered items.

Delaware

Delaware does not have any sales tax, including on precious metals. There is no sales tax on any purchase made within the state, regardless of the type or quantity of goods.

District of Columbia

The District of Columbia does impose sales taxes on precious metals. There are no specific exemptions for precious metals like gold or silver, so they are subject to the standard sales tax rate of 5.75% in Washington, D.C.

Florida

As of August 1, 2025, Florida exempts qualifying gold, silver, and platinum bullion coins, rounds, and bars from sales tax regardless of transaction amount.

• U.S. legal tender coins and currency are exempt regardless of face value.
• Palladium bullion and non-legal-tender collectible or numismatic coins remain taxable unless another statutory exemption applies.

Georgia

Georgia sales taxes apply to specific products listed below:

• All copper or palladium products.
• Accessory Items.
• Processed Items.
• Certain Currency.

All other products are exempt from sales tax in Georgia.

Hawaii

Hawaii doesn't have a traditional sales tax, but it does have a General Excise Tax (GET). This tax is generally paid by the seller, but it can be reflected in the prices they charge.

Idaho

In Idaho, the sale of precious metal bullion and monetized bullion is exempt from sales tax. This includes common precious metals like gold, silver, platinum, rhodium, and chromium, as long as their value is derived from their metal content and not their form. However, there are some exceptions:

• Numismatic Products.
• Accessory Items.
• Processed Items.

All other products are exempt from sales tax in Idaho.

Illinois

Illinois sales taxes apply to specific products listed below:

• Krugerrands.
• Bullion with purity less than .980.
• Accessory Items.
• Processed Items.

All other products are exempt from sales tax in Illinois.

Indiana

In Indiana, the tax on precious metals can vary depending on the type of metal and the specific transaction. In Indiana, the sales tax on numismatic (collectible) coins can vary:

• Numismatic coins not in IRAs.
• Foreign Coins.

Note: As a general rule, sales of tangible personal property, including precious metals like gold, silver, platinum, and palladium, are subject to the state 7% sales tax.

Iowa

Iowa has an exemption from sales and use taxes for sales of coins, currency, or bullion.

• Bullion Products made of Copper.
• Non-legal Tender Coins.
• Accessories.
• Processed Items.

All other products are exempt from sales tax in Iowa.

Kansas

Kansas sales taxes apply to specific products listed below:

• All copper products.
• All coins that are not made of gold or silver.
• Accessories.
• Processed Items.

All other products are exempt from sales tax in Kansas.

Kentucky

Kentucky exempts qualifying precious metals bullion from sales tax, including gold, silver, platinum, and palladium products valued primarily for their metal content.

• Taxable items include copper products, accessories, and processed or altered items.

Louisiana

Louisiana exempts qualifying precious metals bullion from state sales tax, including gold, silver, platinum, and palladium products valued primarily for their metal content; however, local parish sales taxes may still apply depending on the shipping destination.

• Taxable items include copper products, palladium products, certain numismatic or collectible coin transactions over $1,000, accessories, and processed or altered items.

Maine

Maine has a 5.5% sales tax and there have been legislative efforts to exempt gold and silver bullion and coins from this tax. A bill (LD1051) was passed by the Maine Senate in May 2023 aiming to remove this tax, with an intended effective date of January 1, 2024.

Maryland

Maryland exempts certain precious metals and coins from sales and use tax under the state's investment bullion and coin exemption when the qualifying transaction exceeds $1,000.

• Purchases below the $1,000 threshold, jewelry, decorative items, industrial or artistic precious metals, coin supplies, commemorative medallions, and non-investment collectibles may remain taxable.

Massachusetts

Massachusetts sales taxes apply to specific products listed below:

• Purchases under $1,000.
• Copper Products.
• Platinum Bullion Products.
• Palladium Bullion Products.
• Accessory Items.
• Processed Items.
• South African or Namibian Coins (e.g., Krugerrands).
• Fabricated precious metals for industrial, professional, or artistic use.

All other products are exempt from sales tax in Massachusetts.

Michigan

There is no sales or use tax on investment coins and bullion in Michigan. This exemption applies to gold, silver, or platinum in bulk state with a purity of not less than 900 parts per 1,000, as well as numismatic or legal tender coins made of gold, silver, platinum, palladium, or other metals, issued by the U.S. or a foreign government with a fair market value exceeding the face value.

Minnesota

Minnesota applies sales tax to most precious metals products, with a limited exemption for certain bullion items.

• Gold, silver, platinum, and palladium bars or rounds are exempt only when they have a purity of at least .999 and are clearly marked with weight, purity, and metal content.
• All coins, jewelry, works of art, scrap metal, accessories, and processed or altered items are taxable.

Mississippi

As of July 1, 2023, Mississippi has enacted a sales tax exemption for the sale of coins, currency, and bullion. This means there is no longer a state sales tax on precious metals in Mississippi.

Missouri

The state sales tax rate in Missouri is 4.225%. However, cities, counties, and special districts may impose additional local sales taxes, so the combined rate can vary depending on the location. In Missouri, the tax on precious metals depends on the specific type of metal and its purity.

Montana

There is currently no sales tax on precious metals in Montana. This means you won't pay any sales tax when buying gold, silver, or other precious metals from a dealer within the state.

Nebraska

In Nebraska, there is no sales tax on currency or bullion, which includes coins and bars made of gold, silver, or other precious metals. This exemption applies to purchases of any quantity. However, there are some exceptions:

• Certain Currency.
• Accessory Items.
• Processed Items.

Nevada

The tax on precious metals in Nevada is complex and depends on several factors:

Type of Precious Metal:

• Bullion.
• Collectible Coins.
• Jewelry and other Processed Items.

County:

• The sales tax rate varies by county, ranging from 6.85% to 8.38%. The state tax is 6.85%, and the rest is the county tax.

New Hampshire

There is no sales tax on precious metals in New Hampshire.

New Jersey

New Jersey exempts certain investment metal bullion and investment coins from sales tax when the qualifying purchase meets the state's $1,000 threshold.

• Taxable items include purchases below the $1,000 requirement, industrial or artistic precious metals, jewelry or art made from coins, commemorative medallions, copper products, and accessories.

New Mexico

New Mexico doesn't have a sales tax, but it does have a gross receipts tax which is functionally similar. This tax is the responsibility of the seller, not the buyer. However, in practice, this tax is often passed on to the buyer by the seller.

New York

New York sales tax is calculated per individual invoice and applies to specified products and transactions. Bullion transactions below $1,000 are taxable.

• Transactions over $1,000 may be exempt when the products are valued primarily for metal content and the applicable premium thresholds are not exceeded.
• Copper products, altered or processed bullion, accessories, and products valued for more than metal content remain taxable.

North Carolina

In North Carolina, there is no sales tax on investment-grade precious metals such as gold, silver, platinum, and palladium bullion and coins. This exemption was established in July 2017.

North Dakota

In North Dakota, there is no sales tax on bullion coins or bars with a precious metal purity of 0.999 or more. However, sales tax is applied to the following:

• Precious metals with a purity lower than 0.999.
• Medallions, rounds, or items not classified as legal tender.
• Copper products.
• Accessory Items.
• Processed Items.

Ohio

As of July 1, 2021, Ohio no longer charges sales tax on gold, silver, platinum, or palladium bullion that meets certain minimum fineness requirements (typically .999 fine or greater). This exemption also applies to coins made of at least 50% precious metal.

Oklahoma

Oklahoma exempts qualifying precious metals bullion from sales tax, including gold, silver, platinum, and palladium products valued primarily for their metal content.

• Taxable items include copper products, accessories and supplies, and processed or altered items.

Oregon

In the state of Oregon, there is no sales tax on the purchase of precious metals like gold, silver, platinum, or palladium.

Pennsylvania

Pennsylvania does not have sales tax on investment-grade precious metals.

Rhode Island

Rhode Island exempts qualifying precious metals bullion from sales tax when the products have been smelted or refined and are valued primarily for their metal content.

• Taxable items include copper products, precious metals products that have not been smelted or refined, accessories, and processed or altered items.

South Carolina

South Carolina exempts qualifying precious metals bullion and legal-tender coins from sales tax when the products are valued primarily for their metal content.

• Taxable items include copper products, all palladium products, coins and bullion that are not legal tender, accessories, and processed or altered items.

South Dakota

South Dakota has a multi-layered tax system for precious metals, specifically gold. It includes:

• Severance Tax.
• Sales Tax.

Tennessee

As of May 27, 2022, Tennessee has removed sales tax on gold, silver, platinum, and palladium bullion and coins. This means there is no sales tax on these precious metals when purchased in Tennessee.

Texas

In the state of Texas, there is no sales tax on the purchase of most precious metals, including gold, silver, platinum bullion, and numismatic coins.

Utah

In Utah, sales tax on precious metals depends on the type of metal and its purity.

• Bullion Products made of Copper or Palladium.
• Bullion Products made of gold, silver, or platinum with less than 50% purity.
• Numismatic coins (collector's items) not used as legal tender.
• Accessory items and processed items (like jewelry).

Vermont

Vermont sales tax applies to all items ITM Trading sells and ships to the state of Vermont. The sales tax rate is calculated upon checkout.

Virginia

Virginia exempts qualifying purchases of gold, silver, and platinum bullion, as well as legal tender coins, from retail sales and use tax with no minimum purchase threshold.

• The exemption was extended through July 1, 2028, so qualifying transactions should remain exempt through June 30, 2028.
• Jewelry, works of art, and products that do not qualify under the bullion or legal tender coin exemption may remain taxable.

Washington

Starting January 1, 2026, Washington taxes precious metal bullion and monetized bullion as tangible personal property under ESSB 5794.

• Gold, silver, platinum, palladium, rhodium, other refined metals, and government-minted legal tender coins are subject to state and local retail sales tax.
• Combined state and local rates typically range from approximately 7.5% to more than 10%, depending on the buyer's location.

West Virginia

There is no sales tax on investment metal bullion or investment coins in the state of West Virginia. This exemption went into effect on July 1, 2015.

Wisconsin

ITM Trading no longer collects sales tax on bullion products in Wisconsin if they consist of at least 35% gold, silver, copper, platinum, or palladium. Taxable Items Include:

• Accessories, such as holders, tubes, coin flips, and similar apparel.
• Processed items, which means products that were processed by third parties and have more value than its original precious metals content (e.g. colorized coins, black ruthenium/gold plated coins, etc.)

Wyoming

Wyoming exempts gold and silver specie and specie legal tender from sales tax, including qualifying coined, stamped, and imprinted gold or silver bullion valued primarily for its metal content.

• Uncoined bullion, platinum, palladium, other precious metals, medallions, tokens, jewelry, and decorative items remain taxable under standard sales tax rules.