Sales Tax on Gold and Silver in Indiana
Indiana exempts qualifying coins and bullion from sales tax when they meet IRA fineness rules. Learn what qualifies, what does not, and why rare coins are taxed.
Indiana does not charge sales tax on qualifying coins and bullion, but the exemption is conditional. Coins and bullion are exempt only if they are permitted IRA or IDA investments under 26 U.S.C. 408(m). They do not need to actually be held in an IRA.
What Qualifies for the Indiana Exemption
Exempt coins are American Eagles, American Eagle Proofs, and coins issued under state law. Exempt bullion, whether coins, bars, or rounds, must meet these fineness levels:
| Metal | Minimum fineness |
|---|---|
| Gold | 99.5% |
| Silver | 99.9% |
| Platinum | 99.95% |
| Palladium | 99.95% |
U.S. legal tender is always exempt. That covers all U.S. coins and currency, any age, even if sold above face value. Foreign gold or silver coins do not count as legal tender for this purpose, so they are exempt only if they meet the IRA bullion fineness test.
What Does Not Qualify
Bullion below the fineness levels above is treated as a collectible and is taxable. Rare coins are also taxable. Foreign coins that fail the fineness test are taxable as well.
Is There a Dollar Threshold?
No. Indiana’s rule does not set a dollar threshold. The exemption turns on whether the item is a permitted IRA or IDA investment, not on the size of the purchase.
Jewelry and Local Taxes
Indiana’s published guidance does not address jewelry, and it does not address local sales taxes. Storage of exempt coins or bullion is not taxed.
The Official Source
The rule comes from IC 6-2.5-5-47 and Sales Tax Information Bulletin #50, published October 2023 and effective upon publication. The bulletin is available at Sales Tax Information Bulletin #50. The rule was checked in October 2026 and can change with new legislation. Confirm with the Indiana Department of Revenue before a large purchase. For the general framework, see sales tax on gold.
What Buyers Commonly Get Wrong
One common mistake is assuming any gold or silver coin is exempt. In Indiana, a coin is exempt only if it is a permitted IRA or IDA investment, or if it is U.S. legal tender. A foreign gold coin that does not meet the fineness test is taxable.
Another mistake is assuming the metal only needs to be “close” to the fineness levels. The levels are specific: gold 99.5%, silver 99.9%, platinum 99.95%, palladium 99.95%. Bullion below those levels is a collectible and taxable.
A third mistake is thinking the coins must sit in an IRA to qualify. They do not. The test is whether they are permitted IRA or IDA investments, not whether they are actually held in one.
A fourth mistake is treating rare coins as exempt. Rare coins are taxable under this rule.
A fifth mistake is assuming a purchase threshold applies. Indiana’s rule does not set a dollar threshold.
Two legal-tender bills, 2025 HB 1614 and 2026 HB 1227, were not enacted as far as found. HB 1227 status was seen only in search results. Because the rule can change with new legislation, readers should confirm the current position with the state before a large purchase and consult a tax professional or their own preparer about their own situation.
Common questions
Is gold bullion taxable in Indiana?
Gold bullion is exempt if it meets the 99.5% fineness level and is a permitted IRA or IDA investment under 26 U.S.C. 408(m). Bullion below that level is a collectible and is taxable.
Are American Eagle coins exempt from Indiana sales tax?
Yes. American Eagles and American Eagle Proofs are exempt coins under Indiana's rule, along with coins issued under state law.
Does Indiana charge sales tax on silver coins?
U.S. legal tender silver coins are always exempt, any age, even if sold above face value. Other silver coins are exempt only if they meet the 99.9% fineness test for IRA bullion. Foreign silver coins that fail that test are taxable.
Is there a minimum purchase amount for the Indiana exemption?
No. Indiana's rule does not set a dollar threshold. The exemption depends on whether the item is a permitted IRA or IDA investment, not on the purchase amount.
Read next
- Sales Tax on Gold and Silver in Wyoming Wyoming charges no sales tax on specie and specie legal tender, including gold and silver coins and stamped bullion. See what qualifies and what does not.
- Sales Tax on Gold and Silver in Michigan Michigan exempts investment coins and bullion from sales tax. Learn what qualifies, purity rules, and what buyers often misunderstand.
- Sales Tax on Gold and Silver in Arizona Arizona's state transaction privilege tax excludes precious metal bullion and monetized bullion. City taxes can still apply, including to numismatic coins.
- Gold Coins and Bars: How Form Affects Tax How the IRS treats gains on gold coins and bars, and why reporting thresholds differ by product and quantity. Rates for 2026, with statutory changes noted.
- Selling Gold: When It Is a Taxable Event Selling gold is a taxable event when there is a gain. Learn the rules for capital gains, collectibles rates, and exceptions like gifts and inheritance.