Bullion sales tax · South Dakota
South Dakota sales tax on gold and silver
Is gold taxed in South Dakota?
No.
South Dakota charges no sales tax on gold, silver, platinum or palladium bars, ingots and medallions valued for metal content, or on any coin or currency that is or was legal tender.
- Investment gold & silver
- Tax-free
- Order threshold
- None
- Metals covered
- Gold, silver, platinum and palladium
- Jewelry
- Taxed · about 6.11%
What's taxed in South Dakota
| What you're buying | Sales tax | What it means |
|---|---|---|
| Gold and silver bars and rounds | No sales tax | No sales tax in South Dakota, whatever the order size. |
| Gold and silver bullion coins (Eagles, Maple Leafs, Krugerrands) | No sales tax | No sales tax in South Dakota, whatever the order size. |
| Platinum and palladium bullion (bars, rounds and coins) | No sales tax | No sales tax in South Dakota, whatever the order size. |
| Rare and graded (numismatic) coins | No sales tax | No sales tax in South Dakota, whatever the order size. |
| Jewelry | Sales tax applies | Taxed like other goods in South Dakota. |
| Medals, collectibles and accessories | Sales tax applies | Taxed like other goods in South Dakota. |
The rule, in plain English
South Dakota charges no sales tax on gold, silver, platinum or palladium bars, ingots and medallions valued for metal content, or on any coin or currency that is or was legal tender.
What counts: Bullion: "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 the form." Coins and currency: "any coins 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 items that are not gold, silver, platinum or palladium bars, ingots or medallions (for example copper rounds, art pieces whose value depends on form); accessories and supplies.
This rule took effect on July 1, 2007.
What you would pay: three South Dakota examples
| Purchase delivered to South Dakota | Sales tax |
|---|---|
| Silver coins, $500 | $0 exempt investment bullion |
| Gold coins, $5,000 | $0 exempt investment bullion |
| A gold necklace, $1,000 | about $61 jewelry is taxed |
Using South Dakota's 4.2% state rate plus the average local rate, 6.11% combined (Tax Foundation, January 2026). Your city or county rate may be higher or lower.
South Dakota and its neighbors
- Iowa Tax-free
- Minnesota Partly tax-free
- Montana No sales tax
- Nebraska Tax-free
- North Dakota Tax-free
- Wyoming Tax-free
Different rules next door: Minnesota (partly tax-free) and Montana (no sales tax). Same as South Dakota: Iowa, Nebraska, North Dakota and Wyoming. Tax follows the delivery address, not where you live.
Buying from Bullion Trading LLC with delivery to South Dakota
No sales tax is added at our checkout for bullion delivered to South Dakota.
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 South Dakota: 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 South Dakota
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. South Dakota has no personal income tax, so the state doesn't tax the gain.
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
Municipal sales taxes must conform to the state tax base (SDCL 10-52-2), so the exemption applies to city taxes as well.
Common questions about South Dakota
Is gold taxed in South Dakota?
No. South Dakota charges no sales tax on gold, silver, platinum or palladium bars, ingots and medallions valued for metal content, or on any coin or currency that is or was legal tender.
Is silver taxed in South Dakota?
No. Investment silver bullion and coins are exempt from sales tax in South Dakota.
Is gold jewelry taxed in South Dakota?
Yes. Jewelry is taxed like other goods in South Dakota (about 6.11% on average with local tax), even when it is made of gold, silver or platinum.
Do I pay tax when I sell gold in South Dakota?
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. South Dakota has no personal income tax, so the state doesn't tax the gain.
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
- SDCL § 10-45-110 — Exemption for sale of coins, currency, or bullion (sales tax) (checked October 19, 2026)
- SDCL § 10-46-71 (SL 2007, ch 60, § 2) — Exemption for sale of coins, currency, or bullion (use tax) (checked October 19, 2026)
- SDCL § 10-52-2 — Municipal sales tax must conform in all respects to the state tax except rate (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.