Coin and Bullion Laws by State: Hawaii to Maryland
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Last reviewed: October 2026. This page is general information, not legal or tax advice. Laws change, so confirm with the official source linked under each state or with a qualified tax professional.
Hawaii Coin and Bullion Laws
Selling coins in Hawaii? Visit our Hawaii coin dealer page
Sales Tax Law:
Hawaii does not have a sales tax. Instead it has the General Excise Tax (GET), a tax on businesses that is often passed on to customers. There is no GET exemption for sales of precious metal bullion or coins, so the GET applies to these sales.
Capital Gains Tax:
Gold and silver are subject to capital gains taxation when exchanged for Federal Reserve notes or when used in barter transactions.
Official sources: Hawaii Department of Taxation: General Excise Tax | Hawaii Department of Taxation: GET exemptions
Idaho Coin and Bullion Laws
Selling coins in Idaho? Visit our Idaho coin dealer page
Sales Tax Law:
Under Idaho Code §63-3622V, the sale of precious metal bullion or monetized bullion is exempt from sales tax.
The statute defines “precious metal bullion” as “any elementary precious metal which has been put through a process of smelting or refining including, but not limited to, gold, silver, platinum, rhodium, and chromium, and which is in such state or condition that its value depends upon its contents and not upon its form.”
“Monetized bullion” means coins or other forms of money made from gold, silver or other metals and used as a medium of exchange under the laws of Idaho, the United States or any foreign nation. It does not include coins or money sold to be made into jewelry or works of art.
Capital Gains Tax:
Under House Bill 40 (2025), effective retroactively to January 1, 2025, capital gains and losses from the sale or exchange of precious metal bullion and monetized bullion are removed from Idaho taxable income. This is a state rule only; federal capital gains rules still apply.
Official sources: Idaho Code §63-3622V (Idaho Legislature) | House Bill 40 (2025) (Idaho Legislature)
Illinois Coin and Bullion Laws
Selling coins in Illinois? Visit our Illinois coin dealer page
Sales Tax Law:
Under 35 ILCS 120/2-5(18), legal tender, currency, medallions, and gold or silver coinage issued by the State of Illinois, the United States government or the government of any foreign country, and bullion, are exempt from sales tax.
Under Illinois Department of Revenue rules, “bullion” means gold, silver or platinum in a bulk state with a purity of not less than 980 parts per 1,000, and “medallions” are coins, other than legal tender, issued by a government body, usually as a memorial.
Capital Gains Tax:
Gold and silver are subject to capital gains taxation when exchanged for Federal Reserve notes or when used in barter transactions.
Official source: 35 ILCS 120/2-5 (Illinois General Assembly)
Indiana Coin and Bullion Laws
Selling coins in Indiana? Visit our Indiana coin dealer page
Sales Tax Law:
Under Indiana Code §6-2.5-5-47, sales of coins and bullion that are permitted investments for an individual retirement account (IRA), sales of legal tender (U.S. coins and currency), and the lease or rental of storage for these items are exempt from sales tax (Indiana Department of Revenue Sales Tax Information Bulletin #50).
Capital Gains Tax:
Gold and silver are subject to capital gains taxation when exchanged for Federal Reserve notes or when used in barter transactions.
Official source: Indiana DOR Sales Tax Information Bulletin #50 (PDF)
Iowa Coin and Bullion Laws
Selling coins in Iowa? Visit our Iowa coin dealer page
Sales Tax Law:
Under Iowa Code §423.3(91), the sales price from sales of coins, currency or bullion is exempt from sales tax.
“Bullion” means bars, ingots or commemorative medallions of gold, silver, platinum, palladium, or a combination of these, where the value of the metal depends on its content and not its form. “Coins” or “currency” means a coin or currency made of gold, silver or other metal or paper which is or has been used as legal tender.
Capital Gains Tax:
Gold and silver are subject to capital gains taxation when exchanged for Federal Reserve notes or when used in barter transactions.
Official source: Iowa Code §423.3 (Iowa Legislature, PDF)
Kansas Coin and Bullion Laws
Selling coins in Kansas? Visit our Kansas coin dealer page
Sales Tax Law:
Since July 1, 2019 (House Bill 2140, K.S.A. 79-3606(mmmm)), Kansas exempts “all sales of gold or silver coins; and palladium, platinum, gold or silver bullion.”
For this exemption, “bullion” means bars, ingots or commemorative medallions of gold, silver, platinum, palladium, or a combination of these, for which the value of the metal depends on its content and not its form.
Capital Gains Tax:
Gold and silver are subject to capital gains taxation when exchanged for Federal Reserve notes or when used in barter transactions.
Official sources: Kansas Department of Revenue Notice 19-02 (PDF) | K.S.A. 79-3606 (Kansas Revisor of Statutes)
Kentucky Coin and Bullion Laws
Selling coins in Kentucky? Visit our Kentucky coin dealer page
Sales Tax Law:
Since August 1, 2024, Kentucky exempts sales of currency and bullion from sales and use tax under KRS 139.480(36). “Bullion” means bars, ingots or coins made of gold, silver, platinum, palladium or a combination of these metals, valued for their metal content and not their form, and used as a medium of exchange, security or commodity. Medallions and coins made into a pendant or other jewelry are not covered.
Capital Gains Tax:
Gold and silver are subject to capital gains taxation when exchanged for Federal Reserve notes or when used in barter transactions.
Official source: KRS 139.480 (Kentucky General Assembly)
Louisiana Coin and Bullion Laws
Selling coins in Louisiana? Visit our Louisiana coin dealer page
Sales Tax Law:
Under La. R.S. 47:301(16)(b)(ii), the following are excluded from taxable sales: platinum, gold or silver bullion valued solely on its precious metal content, whether in coin or ingot form; numismatic coins with a sales price of no more than $1,000; and numismatic coins sold at a national, statewide or multi-parish numismatic trade show. These exclusions were kept in the 2024 sales tax changes, according to the Louisiana Department of Revenue.
Capital Gains Tax:
Gold and silver are subject to capital gains taxation when exchanged for Federal Reserve notes or when used in barter transactions.
Official sources: La. R.S. 47:301 (Louisiana Legislature) | Louisiana Department of Revenue: retained exemptions chart (PDF)
Maine Coin and Bullion Laws
Selling coins in Maine? Visit our Maine coin dealer page
Sales Tax Law:
Maine does not have a sales tax exemption for precious metal bullion or coins, so these sales are subject to Maine sales tax. A 2025 bill to create an exemption (LD 372) was not enacted.
Capital Gains Tax:
Gold and silver are subject to capital gains taxation when exchanged for Federal Reserve notes or when used in barter transactions.
Official sources: 36 M.R.S. §1760, sales tax exemptions (Maine Legislature) | LD 372 (2025) status (Maine Legislature)
Maryland Coin and Bullion Laws
Selling coins in Maryland? Visit our Maryland coin dealer page
Sales Tax Law:
Under Md. Tax-General Code §11-214.1, the sales and use tax does not apply to a sale of precious metal bullion or coins only if the sale price is more than $1,000 AND the sale takes place at the Baltimore Convention Center. Other sales of bullion and coins in Maryland are taxable.
“Precious metal bullion or coins” means precious metal that has been refined and whose value depends on its precious metal content and not its form. It does not include jewelry or works of art.
Capital Gains Tax:
Gold and silver are subject to capital gains taxation when exchanged for Federal Reserve notes or when used in barter transactions.
Official source: Md. Tax-General §11-214.1 (Maryland General Assembly)
← Coin and bullion laws overview | ← Previous: Alabama to Georgia | Next: Massachusetts to New Jersey →
Last reviewed: October 2026. General information only, not legal or tax advice.
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