Bullion sales tax · Virginia
Virginia sales tax on gold and silver
Is gold taxed in Virginia?
No.
Virginia charges no sales tax on gold, silver or platinum bullion or on legal-tender coins of any metal, at any order size, through July 1, 2028; palladium bars and rounds are taxable.
No minimum purchase since 2022. Palladium bars are taxed. The exemption runs through July 1, 2028.
- Investment gold & silver
- Tax-free
- Order threshold
- None
- Metals covered
- Gold, silver and platinum; not palladium
- Jewelry
- Taxed · about 5.77%
- Exemption runs until
- July 1, 2028
What's taxed in Virginia
| What you're buying | Sales tax | What it means |
|---|---|---|
| Gold and silver bars and rounds | No sales tax | No sales tax in Virginia, whatever the order size. |
| Gold and silver bullion coins (Eagles, Maple Leafs, Krugerrands) | No sales tax | No sales tax in Virginia, whatever the order size. |
| Platinum bars and rounds | No sales tax | No sales tax in Virginia, whatever the order size. |
| Palladium bars and rounds | Sales tax applies | Virginia's exemption doesn't cover palladium bars, so they are taxed. |
| Platinum and palladium coins (Eagles, Maple Leafs) | No sales tax | No sales tax in Virginia, whatever the order size. |
| Rare and graded (numismatic) coins | Depends on the item | Depends on the coin and how it is priced; see the rule below. |
| Jewelry | Sales tax applies | Taxed like other goods in Virginia. |
| Medals, collectibles and accessories | Sales tax applies | Taxed like other goods in Virginia. |
The rule, in plain English
Virginia charges no sales tax on gold, silver or platinum bullion or on legal-tender coins of any metal, at any order size, through July 1, 2028; palladium bars and rounds are taxable.
What counts: "Gold, silver, or platinum bullion" means gold, silver or platinum, and any combination, that has gone through a refining process and whose value depends on its mass and purity and not on its form, numismatic value or other value. It may contain other metals or substances of minimal value. "Legal tender coins" means coins of any metal content issued by a government as a medium of exchange or payment of debts. Neither includes jewelry or works of art. Administrative tests (VTB 15-6): refined; at least 90% gold, silver or platinum; price fluctuates with the metal; sales price no more than 120% of metal value.
Still taxed: Jewelry and works of art; palladium bars and rounds; bullion priced above 120% of melt value or under 90% purity (VTB 15-6); non-legal-tender collectibles and medals; accessories. Sterling flatware sold at auction was held taxable in Ruling 23-117 because its price did not depend solely on metal value.
This rule took effect on July 1, 2022 and runs until July 1, 2028 unless the legislature extends it.
What you would pay: three Virginia examples
| Purchase delivered to Virginia | Sales tax |
|---|---|
| Silver coins, $500 | $0 exempt investment bullion |
| Gold coins, $5,000 | $0 exempt investment bullion |
| A gold necklace, $1,000 | about $58 jewelry is taxed |
Using Virginia's 5.3% state rate plus the average local rate, 5.77% combined (Tax Foundation, January 2026). Your city or county rate may be higher or lower.
Recent changes in Virginia
The 2026 budget (HB 30, Item 3-5.22) keeps the exemption in effect through July 1, 2028. Source
The 2025 budget (HB 1600, Item 3-5.25) kept the exemption in effect through July 1, 2026. Source
The $1,000-per-transaction minimum was removed. Bullion and legal-tender coins are exempt at any price, and the sunset moved to June 30, 2025. Source
Virginia and its neighbors
- District of Columbia Taxable
- Kentucky Tax-free
- Maryland Tax-free on orders over $1,000
- North Carolina Tax-free
- Tennessee Tax-free
- West Virginia Tax-free
Different rules next door: District of Columbia (taxable) and Maryland (tax-free on orders over $1,000). Same as Virginia: Kentucky, North Carolina, Tennessee and West Virginia. Tax follows the delivery address, not where you live.
Buying from Bullion Trading LLC with delivery to Virginia
Our checkout applies Virginia's rule, so no sales tax is added to investment bullion delivered there.
Virginia does not exempt palladium bars and rounds. Those items can't be checked out online for delivery to Virginia; call 646 362 3536 to arrange the order.
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 Virginia: 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 Virginia
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. Virginia taxes the gain as ordinary income (top rate 5.75% 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
The § 58.1-609.1 preamble exempts these sales from 'the tax imposed by this chapter or pursuant to the authority granted in §§ 58.1-605 and 58.1-606', which covers the state tax, the 1% local tax and the regional add-on taxes in Chapter 6. No Virginia sales tax applies to qualifying items.
Common questions about Virginia
Is gold taxed in Virginia?
No. Virginia charges no sales tax on gold, silver or platinum bullion or on legal-tender coins of any metal, at any order size, through July 1, 2028; palladium bars and rounds are taxable.
Is silver taxed in Virginia?
No. Investment silver bullion and coins are exempt from sales tax in Virginia.
Is gold jewelry taxed in Virginia?
Yes. Jewelry is taxed like other goods in Virginia (about 5.77% on average with local tax), even when it is made of gold, silver or platinum.
Do I pay tax when I sell gold in Virginia?
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. Virginia taxes the gain as ordinary income (top rate 5.75% 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
- Va. Code § 58.1-609.1(19) — Governmental and commodities exemptions: bullion and legal tender coins (text reads 'Effective through June 30, 2025'; extended by the Appropriation Act) (checked October 19, 2026)
- 2022 Va. Acts ch. 643 (HB 936) — Extended the sunset to 2025-06-30 and struck the $1,000 threshold (approved 2022-04-11) (checked October 19, 2026)
- 2022 Va. Acts ch. 634 (SB 26) — Companion act amending § 58.1-609.1 (approved 2022-04-11) (checked October 19, 2026)
- HB 936 (2022) summary as passed — 'The bill eliminates the limitation that only purchases in excess of $1,000 are eligible for the exemption.' (checked October 19, 2026)
- 2025 Appropriation Act (HB 1600, ch. 725), Item 3-5.25 — Exemption to 'remain in effect through July 1, 2026' (checked October 19, 2026)
- 2026 Appropriation Act (HB 30, 2026 Sp. Sess. I, ch. 1), Item 3-5.22 — Exemption to 'remain in effect through July 1, 2028' (checked October 19, 2026)
- Ruling of the Tax Commissioner 23-117 — Sterling flatware not exempt; quotes the pre-July-2022 statutory text with the $1,000 threshold (checked October 19, 2026)
- Virginia Tax, 2022 Legislative Summary, p. 20 — HB 936 'removes the limitation that only purchases in excess of $1,000 are eligible'; effective July 1, 2022 (checked October 19, 2026)
- Virginia Tax, 2026 Legislative Summary (26-82) — Sunset extended from July 1, 2026 to July 1, 2028; effective July 1, 2026 (checked October 19, 2026)
- Virginia Tax, Sales Tax Exemptions — 'Sales of gold, silver, or platinum bullion, or legal tender coins are exempt from sales tax.' (no threshold stated) (checked October 19, 2026)
- Va. Tax Bulletin 15-6 (P.D. 15-133, 2015-06-26) — Bullion tests: refined, 90% purity, price at most 120% of metal value; its $1,000 discussion is obsolete (checked October 19, 2026)
- Virginia Tax, 2017 Legislative Summary (P.D. 17-99) — HB 1668 / SB 934 (2017 chs. 48, 445) added legal tender coins, effective January 1, 2018 (checked October 19, 2026)
- Virginia Department of Taxation, Fiscal Year 2025 Tax Preferences Report (Oct. 31, 2025, RD717), Exemption for Metal Bullion and Legal Tender Coins — Department's description of the coin exemption (coins by metal; checked October 21, 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.