Bullion sales tax · Iowa
Iowa sales tax on gold and silver
Is gold taxed in Iowa?
No.
Iowa does not tax gold, silver, platinum, or palladium bars, ingots, or rounds priced by metal content, or any coin or currency that is or was legal tender, including collector coins.
- Investment gold & silver
- Tax-free
- Order threshold
- None
- Metals covered
- Gold, silver, platinum and palladium
- Jewelry
- Taxed · about 6.94%
What's taxed in Iowa
| What you're buying | Sales tax | What it means |
|---|---|---|
| Gold and silver bars and rounds | No sales tax | No sales tax in Iowa, whatever the order size. |
| Gold and silver bullion coins (Eagles, Maple Leafs, Krugerrands) | No sales tax | No sales tax in Iowa, whatever the order size. |
| Platinum and palladium bullion (bars, rounds and coins) | No sales tax | No sales tax in Iowa, whatever the order size. |
| Rare and graded (numismatic) coins | No sales tax | No sales tax in Iowa, whatever the order size. |
| Jewelry | Sales tax applies | Taxed like other goods in Iowa. |
| Medals, collectibles and accessories | Sales tax applies | Taxed like other goods in Iowa. |
The rule, in plain English
Iowa does not tax gold, silver, platinum, or palladium bars, ingots, or rounds priced by metal content, or any coin or currency that is or was legal tender, including collector coins.
What counts: Iowa Code § 423.3(91)(b): '(1) “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 the form. (2) “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.'.
Still taxed: Jewelry. Non-legal-tender medallions or items valued for form rather than metal content. Base-metal bullion (for example copper rounds). Accessories.
What you would pay: three Iowa examples
| Purchase delivered to Iowa | Sales tax |
|---|---|
| Silver coins, $500 | $0 exempt investment bullion |
| Gold coins, $5,000 | $0 exempt investment bullion |
| A gold necklace, $1,000 | about $69 jewelry is taxed |
Using Iowa's 6% state rate plus the average local rate, 6.94% combined (Tax Foundation, January 2026). Your city or county rate may be higher or lower.
Iowa and its neighbors
- Illinois Tax-free
- Minnesota Partly tax-free
- Missouri Tax-free
- Nebraska Tax-free
- South Dakota Tax-free
- Wisconsin Tax-free
Different rules next door: Minnesota (partly tax-free). Same as Iowa: Illinois, Missouri, Nebraska, South Dakota and Wisconsin. Tax follows the delivery address, not where you live.
Buying from Bullion Trading LLC with delivery to Iowa
No sales tax is added at our checkout for bullion delivered to Iowa.
Orders ship insured and discreetly packed: USPS under $1,000, FedEx with adult signature from $1,000, usually within 2–3 business days after payment clears. Bank transfer and check are our best price; card and PayPal add 5% (up to $7,500).
Tax-free in Iowa: popular coins and bars
The large price is the check/wire price; the card/PayPal price is listed under it. Prices follow the live spot price.
Selling gold in Iowa
Selling gold to a dealer is not a retail purchase, so no sales tax applies. A profit is a capital gain: the IRS taxes gains on gold and silver bullion as collectibles, at up to 28% when held more than a year. Iowa taxes the gain as ordinary income (top rate 3.8% in 2026).
Dealers have to report some larger sales to the IRS on Form 1099-B; keep your purchase receipts to show your cost.
We buy bullion at our counter at 20 West 47th Street in New York: walk in with a photo ID and we pay by same-day check. How selling to us works
Local taxes
Local option sales tax follows the state base; exempt sales are exempt locally.
Common questions about Iowa
Is gold taxed in Iowa?
No. Iowa does not tax gold, silver, platinum, or palladium bars, ingots, or rounds priced by metal content, or any coin or currency that is or was legal tender, including collector coins.
Is silver taxed in Iowa?
No. Investment silver bullion and coins are exempt from sales tax in Iowa.
Is gold jewelry taxed in Iowa?
Yes. Jewelry is taxed like other goods in Iowa (about 6.94% on average with local tax), even when it is made of gold, silver or platinum.
Do I pay tax when I sell gold in Iowa?
Selling gold to a dealer is not a retail purchase, so no sales tax applies. A profit is a capital gain: the IRS taxes gains on gold and silver bullion as collectibles, at up to 28% when held more than a year. Iowa taxes the gain as ordinary income (top rate 3.8% in 2026).
Selling to a dealer
No sales tax
A gain on the sale
Taxed by the IRS as a collectible, up to 28% when held more than a year
Sources
- Iowa Code § 423.3(91) — Exemption for coins, currency, or bullion (checked October 19, 2026)
- State and Local Sales Tax Rates, 2026 (table: State & Local Sales Tax Rates as of January 1, 2026) (Tax Foundation)
- 2026 Sales Tax Rates, Midyear Update (rates as of July 1, 2026) (Tax Foundation)
- Iowa Capital Gain Deduction (Iowa Department of Revenue)
- IRS Topic 409: capital gains and losses (collectibles rate)
How we research and check this guide: our method.