Sales Tax on Gold and Silver in California
California exempts gold and silver bullion and coins from sales tax only when a single transaction totals $2,000 or more. Below that, the sale is taxable.
California does not charge sales tax on gold and silver bullion and coins when the total market value of those items in a single transaction is $2,000 or more. Below $2,000, the sale is taxable.
What Qualifies for the Exemption
The exemption covers three categories of items:
- Monetized bullion — legal-tender coins or other money made of gold, silver or another metal.
- Nonmonetized gold or silver bullion — gold or silver that has been smelted or refined and whose value depends primarily on its gold or silver content rather than its form.
- Numismatic coins — coins valued by collectors.
The seller must be registered, or not required to be registered, under the Commodity Exchange Act. Coins transferred solely as a medium of exchange — that is, spent at face value as legal tender — are not taxed.
The $2,000 Threshold
The threshold applies to the total market value of qualifying items sold in a single transaction, not to each item separately. A purchase of several smaller pieces can therefore cross the threshold and become exempt, while a single piece below $2,000 remains taxable.
The threshold was $1,500 before July 1, 2023. It is adjusted for inflation using the California CPI, rising in $500 steps when the adjusted amount exceeds the current one by at least $500. In December 2023 the CDTFA said it expects $2,000 to remain in place for several years.
What the Bullion Category Does Not Cover
The nonmonetized bullion category covers only gold and silver. Platinum or palladium bars are not covered by it.
Local Sales Taxes
The sources do not address whether local sales taxes still apply.
California gold and silver tax treatment at a glance
| Item | Rule |
|---|---|
| Monetized bullion, nonmonetized gold or silver bullion, numismatic coins | Exempt when a single transaction totals $2,000 or more |
| Same items below $2,000 | Taxable |
| Threshold basis | Per transaction, not per item |
| Threshold history | $1,500 before July 1, 2023; $2,000 from July 1, 2023 |
| Inflation adjustment | California CPI, in $500 steps |
| Platinum and palladium bars | Not covered by the bullion category |
| Coins spent at face value as legal tender | Not taxed |
Official Sources
The rule comes from Regulation 1599 and Revenue and Taxation Code section 6355. The CDTFA also publishes Publication L912 and Publication L-906.
The rule was checked in October 2026 and can change with new legislation. Confirm with the state before a large purchase.
What Buyers Commonly Get Wrong
A frequent mistake is treating the $2,000 threshold as applying to each item. It applies to the total market value of qualifying items in a single transaction, so the way a purchase is structured matters.
Another common error is assuming the exemption covers all precious metals. The nonmonetized bullion category covers only gold and silver; platinum or palladium bars are not covered by it.
Buyers also sometimes assume the threshold has always been $2,000. It was $1,500 before July 1, 2023, and it is adjusted for inflation in $500 steps based on the California CPI.
Finally, the exemption is not automatic for every seller. The seller must be registered, or not required to be registered, under the Commodity Exchange Act.
This rule can change. For questions about a specific situation, consult a tax professional or your own preparer.
For general background on how gold is taxed federally, see sales tax on gold.
Common questions
How much can I buy in California without paying sales tax on gold?
A single transaction totaling $2,000 or more in qualifying monetized bullion, nonmonetized gold or silver bullion, or numismatic coins is exempt. Below $2,000, the sale is taxable.
Is the $2,000 threshold per item or per transaction?
It is per transaction. The total market value of the qualifying items sold in a single transaction is what counts, not the value of each item separately.
Does the California exemption cover platinum and palladium bars?
No. The nonmonetized bullion category covers only gold and silver. Platinum or palladium bars are not covered by it.
When did the California threshold change from $1,500 to $2,000?
The threshold was $1,500 before July 1, 2023, and became $2,000 for sales on or after July 1, 2023. It is adjusted for inflation using the California CPI, rising in $500 steps.
Read next
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