Sales tax on precious metals varies significantly from state to state. Some states fully exempt investment-grade bullion, others charge the full rate, and many fall somewhere in between with partial exemptions or minimum purchase thresholds.
Disclaimer: Tax laws change frequently. Always verify current rates with your state\'s revenue department or a tax professional before making purchase decisions.
States With Full Bullion Exemptions
The following states do not charge sales tax on investment-grade gold, silver, platinum, or palladium bullion:
- Alaska — no state sales tax at all
- Delaware — no state sales tax at all
- Florida — exempt when transaction exceeds \$500
- Montana — no state sales tax at all
- New Hampshire — no state sales tax at all
- Oregon — no state sales tax at all
- Texas — fully exempt
- Arizona — fully exempt
- Ohio — fully exempt
- Louisiana — fully exempt
- South Carolina — fully exempt
- Michigan — fully exempt
- Utah — fully exempt
- Idaho — fully exempt
- Indiana — fully exempt
- Iowa — fully exempt
- Wyoming — fully exempt
States With Partial Exemptions
Some states exempt bullion above certain thresholds or exempt only specific product types:
- California — exempt for transactions over \$2,000
- Colorado — exempt by county-level rules
- Minnesota — exempt for bullion, taxed for numismatic coins
- Pennsylvania — exempt for bullion, taxed for collectible coins
- Nebraska — exempt as of 2023
States That Charge Full Sales Tax
A handful of states still charge the full sales tax rate on all precious metals purchases:
- Vermont — 6%
- New Mexico — 5.125%
- Maine — 5.5%
- Hawaii — 4%
- Kentucky — 6%
Why Florida Matters
Florida exempts gold, silver, platinum, and palladium bullion from sales tax when the total transaction exceeds \$500. This makes Florida one of the most favorable states for precious metals investors — and it is one reason Intervault Trading is headquartered in Fort Lauderdale.