If you’re buying gold or silver in the United States, the price you see isn’t always the price you pay. Depending on where you live — or where you have your order shipped — you could be handing over an extra 5%, 7%, or even 10% in sales tax on top of your purchase. On a $5,000 gold bar, that’s up to $500 gone before your bullion even hits your door.
The good news? Most US states have wised up. As of 2025, over 40 states now offer full or partial sales tax exemptions on investment-grade precious metals. Knowing which states are tax-friendly — and exactly what the rules are — can make a real difference to your returns.
In this guide, we break down the complete list of states with zero or reduced sales tax on gold and silver, explain the key rules you need to know, and show you how to make sure you’re buying smart.
Why Sales Tax on Precious Metals Matters
Unlike stocks, bonds, or ETFs, physical gold and silver are tangible goods — which means they’re technically subject to sales tax in states that haven’t carved out an exemption. The logic behind exemptions is straightforward: bullion is an investment, not a consumer product. You’re not buying a TV or a pair of shoes. You’re preserving wealth.
Most legislators have come around to this view. The trend over the last decade has been unmistakably in favor of exemptions, with states removing precious metals taxes at a steady pace. But a handful of states still impose sales taxes, and a few others have recently moved in the wrong direction — so it pays to stay current.
Here’s what’s at stake in dollar terms:
| Purchase Amount | 5% Tax (e.g. some partial-exemption states) | 7% Tax | 10% Tax |
|---|---|---|---|
| $500 | $25 | $35 | $50 |
| $2,000 | $100 | $140 | $200 |
| $5,000 | $250 | $350 | $500 |
| $10,000 | $500 | $700 | $1,000 |
That’s real money — money that could go toward more ounces of silver or a fractional gold coin instead of the state treasury.
States With Full Sales Tax Exemptions on Gold and Silver
The following states provide a complete exemption on investment-grade gold, silver, platinum, and palladium bullion — meaning you pay zero sales tax when ordering online and shipping to these addresses:
States With No Sales Tax At All
Five states have no statewide sales tax whatsoever, which makes them naturally tax-free for precious metals purchases:
- Alaska – No state sales tax. Note: some local boroughs may have their own tax rules.
- Delaware – No sales tax at all, on anything.
- Montana – No state sales tax.
- New Hampshire – No sales tax.
- Oregon – No sales tax.
States With Full Precious Metals Exemptions
These states have specifically legislated to exempt investment-grade bullion and coins from sales tax:
| State | Exemption Coverage | Notable Details |
|---|---|---|
| Alabama | Gold, silver, platinum bullion & coins | Exempt until May 2028; also removed capital gains tax on metals in 2025 |
| Arizona | All investment bullion & coins | Treats precious metals as legal tender; zero sales tax |
| Arkansas | Full exemption — all metals | Gold and silver recognized as legal tender since 2023 |
| Colorado | Bullion & coins (legal tender) | Exemption covers both state and local taxes; numismatics may still be taxed |
| Florida | Bullion & coins | Broad exemption; gold and silver recognized as legal tender effective July 2026 |
| Idaho | Gold & silver bullion | Clean, straightforward statutory exemption |
| Illinois | Bullion & coins | No statewide sales tax on precious metals |
| Iowa | Full exemption | No sales tax and no capital gains tax on metals per House File 659 |
| Kansas | Precious metals bullion | Exemption passed via House Bill 2140 |
| Michigan | Bullion at 90%+ purity; investment coins | Purity threshold applies — standard bullion products qualify |
| Minnesota | Bullion at 99.9%+ purity | Higher purity requirement than most states; standard gold and silver bars qualify |
| Mississippi | Full exemption on all metals | Exemption confirmed effective 2024 |
| Missouri | All bullion & investment coins | State and local taxes both exempt as of 2024 |
| Nebraska | Coins, bars, leaf, foil, film | Expanded definition of bullion effective January 2025 |
| New Jersey | Bullion & investment coins ($1,000+ per coin) | New exemption enacted 2025 |
| North Carolina | All precious metals | Exemption in place since 2017; expanded to include coins, leaf, and foil in 2025 |
| Ohio | Investment bullion & coins | Clean exemption effective since 2019 |
| Oklahoma | Legal tender precious metals | No sales tax; note that capital gains tax still applies |
| Pennsylvania | Investment bullion & coins | Exemption effective since 2019 |
| South Dakota | Bullion & coins | One of the Goldback-accepting states |
| Tennessee | Precious metals | No state income tax; combined with no bullion sales tax makes it highly investor-friendly |
| Texas | Gold, silver, platinum bullion & coins | Home to the Texas Bullion Depository; strong precious metals culture |
| Utah | Bullion & coins | Pioneer of gold and silver as legal tender; home to the original Goldback series |
| Virginia | Bullion & coins | Clean exemption covering investment-grade metals |
| Wisconsin | Full exemption | Among the most recently enacted exemptions — 44th state to eliminate the tax |
| Wyoming | Bullion & coins | Strong sound money legislation; known for the Wyoming Goldback series |
States With Partial or Threshold-Based Exemptions
Some states offer exemptions only above a minimum purchase amount. These partial exemptions are better than nothing — but they do create a gap that catches smaller buyers off guard:
- California – Exempt on purchases over $1,500. Below that threshold, sales tax applies.
- Connecticut – Exempt on gold and silver transactions over $1,000. Copper, platinum, and palladium are fully taxable. Threshold will be eliminated effective July 1, 2027.
- Massachusetts – Exempt on purchases over $1,000.
- New York – Exempt on purchases over $1,000 meeting certain conditions.
- Indiana – Exempt on IRA-qualified bullion and US legal tender coins; other products may be taxed.
States That Still Tax Gold and Silver Purchases
A shrinking but meaningful group of states still impose sales tax on precious metals with no exemption or limited relief. These are worth knowing if you’re ordering online — because tax is based on the ship-to address, not where the dealer is located:
- Hawaii – General Excise Tax of 4% applies to precious metals.
- Maine – 5.5% sales tax on bullion.
- Maryland – Reversed its exemption in July 2025 and now imposes a 6% sales tax on all precious metals transactions.
- New Mexico – Sales tax applies to most bullion purchases.
- Vermont – Partial exemptions discussed but not yet enacted; tax generally applies.
- Washington State – Exemptions scheduled for repeal January 1, 2026 — purchases after that date will be taxable.
If you’re in one of these states, buying from an online dealer like us and shipping to a tax-exempt address — such as a family member’s address in a neighboring exempt state — can be a legitimate strategy worth discussing with a tax advisor.
Quick Reference: Sales Tax Status by State (2025)
| Tax Status | States |
|---|---|
| ✅ No sales tax (no state tax at all) | Alaska, Delaware, Montana, New Hampshire, Oregon |
| ✅ Full exemption on bullion | Alabama, Arizona, Arkansas, Colorado, Florida, Idaho, Illinois, Iowa, Kansas, Michigan, Minnesota, Mississippi, Missouri, Nebraska, New Jersey, North Carolina, Ohio, Oklahoma, Pennsylvania, South Dakota, Tennessee, Texas, Utah, Virginia, Wisconsin, Wyoming |
| ⚠️ Partial exemption (threshold applies) | California ($1,500+), Connecticut ($1,000+), Massachusetts ($1,000+), New York ($1,000+), Indiana (IRA-qualified only) |
| ❌ Sales tax applies | Hawaii, Maine, Maryland, New Mexico, Vermont, Washington (as of Jan 2026) |
5 Key Rules to Know Before You Buy
- 1. Tax is based on the ship-to address, not your location. When you order online, the sales tax calculation is based on where the package is delivered. If you ship to a tax-exempt state, you pay no tax — regardless of where you physically are when you click “buy.”
- 2. Purity requirements matter in some states. Michigan exempts bullion at 90%+ purity. Minnesota requires 99.9%+. Standard investment-grade gold bars and silver coins almost always meet these thresholds, but it’s worth confirming before purchasing lower-purity items like 90% junk silver in a state with purity rules.
- 3. Numismatic coins are often treated differently. Most exemptions apply specifically to bullion — metal valued by weight and content. Numismatic or collectible coins valued above their metal content may not qualify for exemptions, even in tax-friendly states.
- 4. Sales tax exemptions are separate from capital gains tax. Even in states that don’t charge sales tax on your purchase, you may still owe federal or state capital gains tax when you sell your metals at a profit. Iowa and Alabama are notable exceptions that have eliminated both.
- 5. State laws change — and fast. Maryland reversed its exemption in 2025. Washington is removing its exemption in 2026. Wisconsin just added an exemption. This landscape shifts regularly, so always verify your state’s current status before a large purchase.
How This Affects Online Bullion Buyers
One of the biggest advantages of buying gold and silver online — rather than at a local coin shop — is flexibility in where your order ships. When you order through us at CanAm Bullion, your shipment goes directly to the address you provide, fully insured. If that address is in a tax-exempt state, no sales tax is collected at checkout.
We ship across the entire United States, which means investors in tax-exempt states from Texas to Ohio to Arizona can buy gold and silver at the true market price — without any markup from the state.
Browse our full selection of gold bars, silver coins, and silver bars — and check your state’s status before you complete your order.
Frequently Asked Questions
Is gold sales tax-free in all 50 US states?
No — but over 40 states now offer full or partial exemptions. A small number of states, including Hawaii, Maine, and Maryland, still impose sales tax on precious metals purchases.
Does it matter where the gold dealer is located?
For online purchases, tax is based on the ship-to address, not the dealer’s location. The dealer’s state of origin is largely irrelevant — your destination determines whether sales tax applies.
Do sales tax exemptions apply to silver and platinum too?
In most states that exempt gold, the exemption also covers silver, platinum, and palladium bullion. Some states have narrower rules — for example, Connecticut currently excludes platinum and palladium from its exemption, though that is set to change in 2027.
Can I avoid sales tax by shipping to a different state?
Technically, tax is owed in the state where the item is delivered. Shipping to a tax-exempt state is a legitimate way to avoid sales tax — but if you later bring the goods into a taxable state, some states technically require you to pay a “use tax.” Consult a tax advisor for your specific situation.
Are coin shop purchases taxed differently than online purchases?
In-person purchases are taxed based on the shop’s location. Online purchases are taxed based on the delivery address. This is one reason buying online can offer more flexibility for tax planning.
Ready to buy without worrying about sales tax? If you’re in one of the many tax-exempt states, your next purchase is waiting. Explore our full inventory at CanAm Bullion or reach out to our team at +1 (844) 915-5151 if you have questions about placing your order.
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