Sales Tax on Gold and Silver by State: Which States Exempt Bullion

In most of the U.S., you won't pay sales tax on investment gold or silver. As of October 29, 2026, the large majority of states exempt legal tender coins and refined bullion that's priced by its metal content. A handful only exempt purchases above a dollar threshold, a few exempt coins but not bars, and six jurisdictions tax every order.

The catch is that exemptions are written differently in every state. Some cover only gold and silver, some include platinum and palladium, some set purity minimums, and some exclude anything sold at a collector premium. The table below sorts it out.

How bullion sales tax works for online orders

When you buy from an online dealer, sales or use tax depends on the shipping destination, not where the dealer is based. Large online dealers now collect it in states that tax bullion. JM Bullion's state pages, for example, note that it began collecting in Washington and Maine on October 1, 2018 and in California on April 1, 2019.

Three terms show up in almost every state's rules:

• Legal tender coins: coins issued by a government with a face value, like American Silver Eagles or Canadian Maple Leafs. Many states exempt these even when they exempt nothing else.
• Refined bullion: bars, rounds and ingots of refined metal. Several states set a purity floor, such as .995 for gold or .999 for silver.
• Valued by metal content: the price is driven by the metal, not rarity. Numismatic or collectible pieces often fall outside the exemption, and jewelry almost always does.

State-by-state table

"Exempt" below means the dealer's page describes legal tender coins and refined bullion valued by metal content as exempt, with no dollar minimum. Anything outside the listed exemption, such as jewelry, collectibles or accessories, is generally taxable.

The threshold states, explained

Threshold states are where buyers most often get surprised, because a smaller order gets taxed and a bigger one doesn't.

California

California's rule comes from Regulation 1599, published by the California Department of Tax and Fee Administration. Bulk sales of monetized bullion, gold or silver bullion and numismatic coins are exempt when the total market value in a single transaction meets the threshold. That threshold was $1,000 through 2008, $1,500 from 2009, and $2,000 for sales on or after July 1, 2023.

In practice, a $1,500 order of silver coins shipped to California is taxed, and a $2,000 order of the same coins isn't. JM Bullion's California page lists legal tender coins, refined bullion and numismatic coins as the exempt categories over $2,000.

Connecticut, Maryland and Massachusetts

These three use $1,000 as the line, but they draw it differently. Connecticut and Massachusetts apply it to gold and silver coins and bullion. Maryland exempts legal tender coins regardless of amount and applies the $1,000 test to refined bars and rounds.

New York

New York is the most complicated. The exemption applies to sales over $1,000 per category, and only when the price stays within set ratios of the metal value: 140% for silver coins, 115% or 120% for gold coins depending on weight, and 115% for other coins and bullion. Low-premium bullion usually passes; high-premium or collectible pieces may not.

States where bullion is taxed

Per JM Bullion's state pages as of October 29, 2026, all of its products are taxable when shipped to Hawaii, Maine, New Mexico, Vermont, Washington or Washington, D.C. Alaska has no statewide sales tax, but the dealer says it taxes orders delivered to boroughs that levy local tax.

Mississippi and Tennessee sit in between. Their pages describe legal tender coins as exempt and everything else as taxable, which means a government-minted coin can be tax-free while a generic silver round or bar is not. If you live in one of those states, that difference can outweigh a small premium gap between coins and bars.

Rules change, so verify before big orders

State legislatures have been adding and widening precious-metals exemptions for years, and some have also created new conditions. Any table like this one is a snapshot. Before a large purchase:

• Check your state's revenue department. Search its site for "bullion" or "precious metals" to find the current statute or guidance.
• Look at the dealer's tax page and checkout. Dealers calculate tax by destination at checkout, so the cart total is the most direct answer to what you'll pay on that order.
• Ask about specific products. If you're buying something unusual, like copper, a proof coin, or a low-purity product, ask the dealer how they classify it.

Sales tax isn't the only tax

A sales tax exemption only covers the purchase. When you sell, any gain may be taxable federally, and dealers file Form 1099-B on certain sales. See our guide to IRS gold reporting rules and our guide to selling gold for that side.

What to do before you order

1. Find your row in the table. Note whether your state exempts coins, bars, both, or neither, and whether there's a dollar threshold.
2. Match the product to the exemption. In coins-only states, favor legal tender coins. In purity-floor states, check the fineness on the listing.
3. Size the order with the threshold in mind. In California or a $1,000 state, know where the line falls, but don't buy more than you planned just to clear it.
4. Compare the full delivered cost. Premium, payment-method pricing, shipping and tax together are what matter. Our dealer comparison covers the other pieces.
5. Confirm at checkout. The tax line in the cart is calculated for your address. If it doesn't match what you expected, ask before paying.