Coin and Bullion Laws by State: South Dakota to Wyoming
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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.
South Dakota Coin and Bullion Laws
Selling coins in South Dakota? Visit our South Dakota coin dealer page
Sales Tax Law:
Under SDCL §10-45-110, sales of coins, currency and bullion are exempt from sales tax.
“Bullion” means any bar, ingot or commemorative medallion of gold, silver, platinum, palladium, or a combination of these metals, where the value of the metal depends on its content and not its form. “Coins and currency” means any coins or currency made of gold, silver or other metal or paper which is or has been used as legal tender.
Capital Gains Tax:
South Dakota does not impose a state income tax on individuals, so there is no state taxation on capital gains on precious metals. Federal tax rules still apply.
Official source: SDCL §10-45-110 (South Dakota Legislature)
Tennessee Coin and Bullion Laws
Selling coins in Tennessee? Visit our Tennessee coin dealer page
Sales Tax Law:
Since May 27, 2022, Tennessee exempts qualifying coins, currency and bullion from sales and use tax under Tenn. Code Ann. §67-6-350 (Tennessee Department of Revenue Notice #22-08). The items must be made in whole or in part of gold, silver, platinum, palladium or other material and be sold mainly for their precious metal or collectible value rather than as a medium of exchange.
Capital Gains Tax:
Tennessee does not tax individuals’ wages or investment income; the Hall income tax on interest and dividends was fully repealed for tax years beginning on or after January 1, 2021. Federal tax rules still apply.
Official sources: Tennessee DOR Notice #22-08 (PDF) | Tennessee DOR: Hall income tax
Texas Coin and Bullion Laws
Selling coins in Texas? Visit our Texas coin dealer page
Sales Tax Law:
Under Texas Tax Code §151.336, “the sale of gold, silver, or numismatic coins or of platinum, gold, or silver bullion is exempted” from sales and use tax, regardless of the amount.
Capital Gains Tax:
Texas does not impose a state income tax on individuals, so there is no state taxation on capital gains on precious metals. Federal tax rules still apply.
Official source: Texas Tax Code chapter 151, see §151.336 (Texas Legislature)
Utah Coin and Bullion Laws
Selling coins in Utah? Visit our Utah coin dealer page
Sales Tax Law:
Under Utah sales tax law, sales of currency or coins that are legal tender of the United States or a foreign nation are exempt, as are sales of an ingot, bar, medallion or decorative coin containing at least 50% gold, silver or platinum that is not legal tender of any nation (Utah State Tax Commission Publication 25).
Capital Gains Tax:
Utah offers a nonrefundable income tax credit for the Utah tax on capital gains from selling or exchanging gold or silver coins issued by the federal government for another form of legal tender (Gold and Silver Coin Sale Credit, Specie Legal Tender Act). Federal capital gains rules still apply.
Official sources: Utah State Tax Commission Publication 25 | Utah TC-40 instructions (Gold and Silver Coin Sale Credit) (PDF)
Vermont Coin and Bullion Laws
Selling coins in Vermont? Visit our Vermont coin dealer page
Sales Tax Law:
Vermont does not have a sales tax exemption for precious metal bullion or coins, so these sales are subject to Vermont’s 6% sales tax. A 2026 bill to create an exemption (H.711) has not been 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: Vermont Department of Taxes: sales and use tax | H.711 (2026) status (Vermont Legislature)
Virginia Coin and Bullion Laws
Selling coins in Virginia? Visit our Virginia coin dealer page
Sales Tax Law:
Under Va. Code §58.1-609.1(19), sales of gold, silver or platinum bullion and legal tender coins are exempt from Virginia sales and use tax. The former $1,000 minimum purchase no longer applies (since July 1, 2022), and the exemption has been extended through July 1, 2028 (2026 Appropriation Act, Item 3-5.22).
“Gold, silver or platinum bullion” means refined gold, silver or platinum, or any combination of these, whose value depends on its mass and purity and not on its form or numismatic value. “Legal tender coins” are coins of any metal content issued by a government as a medium of exchange. Neither includes 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 sources: Virginia Tax: sales tax exemptions | 2026 Appropriation Act, Item 3-5.22 (Virginia LIS)
Washington Coin and Bullion Laws
Selling coins in Washington? Visit our Washington coin dealer page
Sales Tax Law:
Since January 1, 2026 (Engrossed Substitute Senate Bill 5794), sales of precious metal bullion and monetized bullion in Washington are subject to retail sales tax and business and occupation (B&O) tax. The earlier exemption no longer applies (Washington Department of Revenue special notice).
Capital Gains Tax:
Washington has no general personal income tax, but it does have a capital gains tax on long-term capital gains above a standard deduction (RCW 82.87). Gains from tangible personal property located in Washington, such as coins and bullion, can be included. Federal tax rules still apply.
Official sources: Washington DOR special notice: precious metal bullion now taxable | Washington DOR: capital gains tax
West Virginia Coin and Bullion Laws
Selling coins in West Virginia? Visit our West Virginia coin dealer page
Sales Tax Law:
Since July 1, 2019 (Senate Bill 502, W. Va. Code §11-15-9r), sales of investment metal bullion and investment coins are exempt from consumer sales and service tax and use tax. Investment metal bullion includes refined gold, silver, platinum and palladium valued for its content rather than its form; investment coins are coins and legal tender with a fair market value above their face value. Items made for industrial, professional, aesthetic or artistic use, jewelry, works of art made from coins and commemorative medallions 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: W. Va. Code §11-15-9r (West Virginia Legislature)
Wisconsin Coin and Bullion Laws
Selling coins in Wisconsin? Visit our Wisconsin coin dealer page
Sales Tax Law:
Since March 23, 2024 (2023 Wisconsin Act 149, Wis. Stat. §77.54(66)), sales of precious metal bullion are exempt from sales and use tax. “Precious metal bullion” means coins, bars, rounds or sheets that contain at least 35% gold, silver, copper, platinum or palladium and are marked with their weight, purity and content, or coins made by a government on that basis. Jewelry, works of art, scrap metal and electronics are not covered. Since March 29, 2026 (2025 Wisconsin Act 124), an exemption certificate is no longer needed.
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: Wis. Stat. §77.54(66) (Wisconsin Legislature) | 2023 Wisconsin Act 149 | 2025 Wisconsin Act 124
Wyoming Coin and Bullion Laws
Selling coins in Wyoming? Visit our Wyoming coin dealer page
Sales Tax Law:
In 2018 Wyoming passed House Bill 103 (Enrolled Act 46, W.S. 9-4-1301 and following), which says that “the purchase, sale, or exchange of any type or form of specie or specie legal tender shall not give rise to any tax liability of any kind,” that “the exchange of one type or form of legal tender for another type or form of legal tender shall not give rise to any tax liability of any kind,” and that specie and specie legal tender are not treated as personal property for property tax.
“Specie” means coin having gold or silver content, or refined gold or silver bullion that is coined, stamped or imprinted with its weight and purity and valued mainly for its metal content and not its form. “Specie legal tender” includes specie coin issued at any time by the United States government or by any foreign government.
Capital Gains Tax:
Wyoming does not impose a state income tax on individuals, so there is no state taxation on capital gains on precious metals. Federal tax rules still apply.
Official source: House Bill 103 (2018), Enrolled Act 46 (Wyoming Legislature, PDF)
← Coin and bullion laws overview | ← Previous: New Mexico to South Carolina
Last reviewed: October 2026. General information only, not legal or tax advice.
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