Bullion sales tax · Minnesota
Minnesota sales tax on gold and silver
Is gold taxed in Minnesota?
Sometimes.
Minnesota exempts only bars and rounds that are at least 99.9% gold, silver, platinum or palladium and marked with weight, purity and content; every coin, including legal-tender bullion coins like Eagles and Maple Leafs, is taxed.
Only marked bars and rounds of 99.9% are exempt; all coins are taxed.
- Investment gold & silver
- Partly tax-free
- Order threshold
- None
- Metals covered
- Gold, silver, platinum and palladium
- Jewelry
- Taxed · about 8.14%
What's taxed in Minnesota
| What you're buying | Sales tax | What it means |
|---|---|---|
| Gold and silver bars and rounds | No sales tax | No sales tax in Minnesota, whatever the order size. |
| Gold and silver bullion coins (Eagles, Maple Leafs, Krugerrands) | Sales tax applies | Minnesota's exemption doesn't cover gold or silver coins, so they are taxed. |
| Platinum and palladium bars and rounds | No sales tax | No sales tax in Minnesota, whatever the order size. |
| Platinum and palladium coins (Eagles, Maple Leafs) | Sales tax applies | Minnesota's exemption doesn't cover platinum or palladium coins, so they are taxed. |
| Rare and graded (numismatic) coins | Sales tax applies | Taxed like other goods in Minnesota. |
| Jewelry | Sales tax applies | Taxed like other goods in Minnesota. |
| Medals, collectibles and accessories | Sales tax applies | Taxed like other goods in Minnesota. |
The rule, in plain English
Minnesota exempts only bars and rounds that are at least 99.9% gold, silver, platinum or palladium and marked with weight, purity and content; every coin, including legal-tender bullion coins like Eagles and Maple Leafs, is taxed.
What counts: Minn. Stat. 297A.67 subd. 34(a): 'precious metal bullion' means bars or rounds that consist of 99.9 percent or more by weight of either gold, silver, platinum, or palladium and are marked with weight, purity, and content. Subd. 34(b): the exemption does not apply to jewelry, works of art, or scrap metal. Subd. 34(c) states the intent to equalize treatment with stocks, bullion ETFs and bonds.
Still taxed: All coins (legal-tender bullion coins of any purity, numismatic coins, junk silver); bars and rounds below 99.9% purity or not marked with weight, purity and content; jewelry; works of art; scrap metal; accessories.
This rule took effect on July 1, 2017.
What you would pay: three Minnesota examples
| Purchase delivered to Minnesota | Sales tax |
|---|---|
| Silver coins, $500 | about $41 taxed like other goods |
| Gold coins, $5,000 | about $407 taxed like other goods |
| A gold necklace, $1,000 | about $81 jewelry is taxed |
Using Minnesota's 6.88% state rate plus the average local rate, 8.14% combined (Tax Foundation, January 2026). Your city or county rate may be higher or lower.
Recent changes in Minnesota
Exemption created for 99.9% bars and rounds (sales after June 30, 2017); coins were left taxable. Source
Minnesota and its neighbors
- Iowa Tax-free
- North Dakota Tax-free
- South Dakota Tax-free
- Wisconsin Tax-free
Different rules next door: Iowa (tax-free), North Dakota (tax-free), South Dakota (tax-free) and Wisconsin (tax-free). Tax follows the delivery address, not where you live.
Buying from Bullion Trading LLC with delivery to Minnesota
No Minnesota sales tax is added at our checkout. For questions about use tax, ask a tax professional.
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 Minnesota: 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 Minnesota
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. Minnesota taxes gains as income and adds 1% on investment income over $1 million.
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
Minnesota local general sales taxes generally use the state tax base, so the same bars-and-rounds-only exemption should apply. I did not verify this locality by locality.
Common questions about Minnesota
Is gold taxed in Minnesota?
Sometimes. Minnesota exempts only bars and rounds that are at least 99.9% gold, silver, platinum or palladium and marked with weight, purity and content; every coin, including legal-tender bullion coins like Eagles and Maple Leafs, is taxed.
Is silver taxed in Minnesota?
It depends on the product. Silver bars and rounds are tax-free at any amount. Silver coins are taxed.
Is gold jewelry taxed in Minnesota?
Yes. Jewelry is taxed like other goods in Minnesota (about 8.14% on average with local tax), even when it is made of gold, silver or platinum.
Do I pay tax when I sell gold in Minnesota?
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. Minnesota taxes gains as income and adds 1% on investment income over $1 million.
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
- Minn. Stat. § 297A.67, subd. 34 — Precious metal bullion exemption (checked October 19, 2026)
- Laws 2017, 1st Spec. Sess. ch. 1, art. 3, § 17 — Created subd. 34; 'effective for sales and purchases made after June 30, 2017' (checked October 19, 2026)
- Minnesota Department of Revenue, Nontaxable Sales guide — Precious metal bullion: bars or rounds of at least 99.9%; 'does not apply to sales of coins, jewelry, works of art, and scrap metal' (checked October 19, 2026)
- Minnesota DOR Revenue Analysis of S.F. 403 / H.F. 881 (March 11, 2025) — Describes current law (bars or rounds of 99.9%+, marked) and a proposal to add coins and currency (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)
- Minn. Stat. 290.033 (net investment income surtax) (Minnesota Revisor of Statutes)
- IRS Topic 409: capital gains and losses (collectibles rate)
How we research and check this guide: our method.