Maryland Precious Metals Tax Information
Maryland exempts certain precious metals and coins from sales and use tax under the state's investment bullion and coin exemption.
Taxable Products in Maryland
- Purchases of qualifying bullion or precious metal coins that do not meet the $1,000 minimum value requirement
- Jewelry, watches, and decorative items made from precious metals
- Precious metals processed or manufactured for industrial, artistic, or commercial use
- Coin collecting supplies and accessories. Including holders, albums, display cases, and cleaning products
- Commemorative medallions and non-investment collectibles that do not qualify under Maryland's bullion and coin exemption
Exemptions:
- Precious metal bullion: Gold, silver, platinum, and palladium bullion purchases totaling more than $1,000 in a single transaction
- Precious metal coins: Gold, silver, platinum, and palladium coins purchased as an investment when the total qualifying transaction exceeds $1,000
Tax Rates:
Purchases that do not meet Maryland's investment bullion and coin exemption requirements may be subject to Maryland sales and use tax.
PLEASE NOTE: THE ABOVE IS NOT A COMPREHENSIVE DESCRIPTION OF SALES TAX LAWS AND REQUIREMENTS IN THE STATE OF MARYLAND. IT IS ONLY INTENDED TO PROVIDE THE READER WITH A BRIEF OVERVIEW OF THOSE SALES TAX LAWS AND REQUIREMENTS CURRENTLY IN EFFECT IN THE STATE OF MARYLAND THAT RELATE TO THE READER'S TRANSACTIONS WITH ITM TRADING. IF YOU WOULD LIKE TO RESEARCH THE SALES TAX LAWS AND REQUIREMENTS IN THE STATE OF MARYLAND, WE SUGGEST YOU VISIT THE MARYLAND TAX AUTHORITY LOCATED AT https://taxes.marylandtaxes.gov/Business_Taxes/.
