Sales tax on gold and silver: what US buyers should know

The short answer

There is no VAT in the United States. Instead, most states charge a sales tax on goods, and each state decides whether gold and silver bullion are taxed. Most states exempt investment-grade bullion, some tax it in full, some exempt it only above a certain amount or purity, and a few have no general state sales tax at all.

AU Trading currently charges no sales tax at checkout. If your state taxes bullion, you may owe use tax yourself.

No VAT, but state sales tax

A sales tax is charged by a state (and sometimes a county or city) on retail sales of goods. Unlike VAT, it is set state by state, so the same purchase can be taxed in one state and exempt in the next.

For bullion, the question is usually whether the state has a specific exemption for coins and bars sold as investments. Those exemptions often come with conditions, for example on purity, on the type of product or on the size of the purchase. Where a state also allows local sales taxes, those can follow different rules again.

How states treat bullion

At the time of writing, states fall broadly into four groups. The examples below come from a mid-2026 summary and are given only as illustrations; rules can change at any time, so check your state's rules before you buy.

• Exempt. Most states exempt investment-grade gold and silver bullion from sales tax. Some apply purity or other tests to decide what qualifies; at the time of writing, Alabama, Florida, Michigan and Minnesota are among the states that do.
• Taxed in full. At the time of writing, Hawaii, Maine, Maryland, New Mexico, Rhode Island, Vermont and Washington, as well as the District of Columbia, generally tax bullion. Maryland repealed its exemption in July 2025, and Washington repealed its exemption from January 1, 2026.
• Exempt above a threshold or under conditions. At the time of writing, for example, California exempts bullion transactions over $2,000, New York exempts transactions over $1,000, and Massachusetts exempts items of $1,000 or more. Connecticut exempts gold and silver over $1,000. New Jersey exempts bars, and coins of $1,000 or more each. Illinois applies a purity test, and Virginia has extended its exemption to June 30, 2028.
• No general state sales tax. At the time of writing, Delaware, Montana, New Hampshire and Oregon have no state sales tax, and Alaska has none at the state level, although local sales taxes may apply there.

These are summaries only, and the full conditions are more detailed than a list can show. Please check your state's rules on its tax department website, or ask a tax adviser.

Use tax: when you may owe it

Use tax is the companion to sales tax. If you buy something that would have been taxable in your state, but the seller didn't charge sales tax, your state may expect you to pay use tax on it yourself, usually at the same rate.

In practice:

• If your state exempts the bullion you bought, there is normally no use tax to pay.
• If your state taxes bullion, or your purchase falls below an exemption threshold, you may owe use tax.
• Many states let individuals report use tax on their state income tax return or a separate form. The method and deadlines vary.

Keep your AU Trading invoices, which show what you bought, the date and the price paid. You may need them for use tax or other tax questions later.

How AU Trading handles sales tax

At the time of writing, AU Trading does not charge sales tax at checkout, whatever your state. The price you see in your cart and on your pro forma invoice is the price you pay, and the customer is responsible for any use tax their state may require. Our terms cover this.

Sales tax rules for online sellers can depend on where a seller makes sales, and they change over time. If AU Trading's approach changes, any tax due would be shown at checkout before you place an order.

Reporting by dealers: Forms 1099-B and 8300

Separately from sales tax, US federal rules require dealers to report some transactions to the IRS. Two forms come up most often:

• Form 1099-B. When a customer sells certain bullion products to a dealer, in certain quantities, the dealer may have to report the sale on Form 1099-B. This applies to sales by customers to dealers, not to purchases. Which products and quantities are covered is set by IRS rules.
• Form 8300. Businesses must report receiving cash of more than $10,000 in one transaction or in related transactions. AU Trading does not accept cash, checks or cards; all payments are made by domestic wire transfer or ACH from an account in your name.

These reporting rules are separate from AU Trading's identity checks, which apply once your paid orders within 12 months reach $10,000.

Tax when you sell

When you sell gold or silver at a gain, US federal income tax may apply. Bullion is generally treated as a collectible for federal tax purposes, which can mean gains are taxed differently from stocks or funds. State income tax may also apply. Your situation, how long you held the metal and the rules in force all matter, so please check with a qualified tax adviser. If you're still deciding what to buy, our guide on gold coins or gold bars compares the options.

Common questions

Does AU Trading charge sales tax?

Not at the time of writing. No sales tax is charged at checkout, and the customer is responsible for any use tax their state requires.

Is gold bullion tax-free in my state?

In most states, investment-grade bullion is exempt from sales tax, but some states tax it and others exempt it only above a threshold. Check your state's rules or ask a tax adviser.

Do I have to pay use tax?

Only if your state would have taxed the purchase. If it did, you may need to report and pay use tax yourself, often on your state income tax return.

Will AU Trading report my purchase to the IRS?

A purchase paid by wire or ACH isn't the kind of transaction either form covers: Form 1099-B covers certain sales by customers to dealers, and Form 8300 covers cash payments over $10,000, which AU Trading doesn't accept. If you have questions about your order, please contact us.