Bullion sales tax · Mississippi
Mississippi sales tax on gold and silver
Is gold taxed in Mississippi?
No.
Since July 1, 2023, Mississippi exempts gold, silver, platinum and palladium bullion and coins, plus collectible coins and paper currency, with no minimum purchase; jewelry is taxed.
- Investment gold & silver
- Tax-free
- Order threshold
- None
- Metals covered
- Gold, silver, platinum and palladium
- Jewelry
- Taxed · about 7.06%
What's taxed in Mississippi
| What you're buying | Sales tax | What it means |
|---|---|---|
| Gold and silver bars and rounds | No sales tax | No sales tax in Mississippi, whatever the order size. |
| Gold and silver bullion coins (Eagles, Maple Leafs, Krugerrands) | No sales tax | No sales tax in Mississippi, whatever the order size. |
| Platinum and palladium bullion (bars, rounds and coins) | No sales tax | No sales tax in Mississippi, whatever the order size. |
| Rare and graded (numismatic) coins | No sales tax | No sales tax in Mississippi, whatever the order size. |
| Jewelry | Sales tax applies | Taxed like other goods in Mississippi. |
| Medals, collectibles and accessories | Sales tax applies | Taxed like other goods in Mississippi. |
The rule, in plain English
Since July 1, 2023, Mississippi exempts gold, silver, platinum and palladium bullion and coins, plus collectible coins and paper currency, with no minimum purchase; jewelry is taxed.
What counts: Per SB 2862 (2023), as reproduced by Sales Tax Institute: 'Bullion' means a bar, ingot, or coin manufactured, in whole or in part, of gold, silver, platinum, or palladium; that was or is used solely as a medium of exchange, security, or commodity by any state, the United States Government, or a foreign nation; and sold based on the intrinsic value of the bar, ingot, or coin as a precious metal or collectible item rather than its form or representative value as a medium of exchange. 'Coin or currency' is defined the same way but covers gold, silver, other metal, or paper, and excludes coins or currency incorporated into jewelry.
Still taxed: Coins or currency incorporated into jewelry; jewelry generally; accessories; non-monetary collectibles (medals or tokens never used as money); bars or rounds of metals other than gold, silver, platinum or palladium (e.g., copper).
This rule took effect on July 1, 2023.
What you would pay: three Mississippi examples
| Purchase delivered to Mississippi | Sales tax |
|---|---|
| Silver coins, $500 | $0 exempt investment bullion |
| Gold coins, $5,000 | $0 exempt investment bullion |
| A gold necklace, $1,000 | about $71 jewelry is taxed |
Using Mississippi's 7% state rate plus the average local rate, 7.06% combined (Tax Foundation, January 2026). Your city or county rate may be higher or lower.
Recent changes in Mississippi
SB 2862 (approved by the Governor April 19, 2023) exempted sales of coins, currency and bullion from sales and use tax. Source
Mississippi and its neighbors
All of Mississippi's neighbors treat investment bullion the same way.
Buying from Bullion Trading LLC with delivery to Mississippi
No sales tax is added at our checkout for bullion delivered to Mississippi.
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 Mississippi: 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 Mississippi
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. Mississippi taxes the gain as ordinary income (top rate 4% 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
Mississippi's local add-on sales taxes (city special-purpose and tourism levies) generally apply to sales that are taxable at the state level. I did not confirm each local levy's treatment of exempt bullion sales.
Common questions about Mississippi
Is gold taxed in Mississippi?
No. Since July 1, 2023, Mississippi exempts gold, silver, platinum and palladium bullion and coins, plus collectible coins and paper currency, with no minimum purchase; jewelry is taxed.
Is silver taxed in Mississippi?
No. Investment silver bullion and coins are exempt from sales tax in Mississippi.
Is gold jewelry taxed in Mississippi?
Yes. Jewelry is taxed like other goods in Mississippi (about 7.06% on average with local tax), even when it is made of gold, silver or platinum.
Do I pay tax when I sell gold in Mississippi?
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. Mississippi taxes the gain as ordinary income (top rate 4% 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
- Miss. Code Ann. § 27-65-111 — Sales tax exemption for coins, currency and bullion; approved by the Governor April 19, 2023, effective July 1, 2023 (billstatus.ls.state.ms.us failed TLS certificate verification, so the official text was not read; paragraph letter not confirmed) (checked October 19, 2026)
- Mississippi Department of Revenue, 2023 Legislation — SB 2862 'exempts sales and use tax for sales of coins, currency, and bullion' (checked October 19, 2026)
- Sales Tax Institute, 'Mississippi Enacts Exemption for Sales of Coins, Currency and Bullion' (secondary) — Reproduces the SB 2862 definitions; cites S.B. 2862, Laws 2023, effective July 1, 2023 (checked October 19, 2026)
- Mississippi Department of Revenue, 2025 Legislation (and 2024 Legislation) — No 2024 or 2025 law touching 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)
- State Individual Income Tax Rates and Brackets, 2026 (Tax Foundation)
- IRS Topic 409: capital gains and losses (collectibles rate)
How we research and check this guide: our method.