Sales Tax on Gold and Silver in Maryland
Maryland exempts precious metal bullion and coins from sales tax only when the sale price is greater than $1,000. Smaller purchases are taxable.
The short answer
Maryland charges no state sales tax on precious metal bullion or coins when the sale price is greater than $1,000. Sales of $1,000 or less are taxable.
What qualifies
Maryland’s exemption covers “precious metal bullion or coins.” That means refined precious metal whose value depends on its metal content rather than its form, and monetized bullion, coins or other money made from precious metals that are or were a medium of exchange under the laws of Maryland, the United States or a foreign nation.
Jewelry and art made from bullion or coins are excluded from the exemption. A piece of jewelry is not covered even if it is made of refined precious metal, and neither is artwork fashioned from bullion or coins.
The $1,000 threshold
The exemption applies only when the sale price is greater than $1,000. A purchase of exactly $1,000 does not qualify, and neither does anything below it. Those smaller sales are taxable.
| Purchase | Maryland sales tax |
|---|---|
| Precious metal bullion or coins, sale price greater than $1,000 | Exempt |
| Precious metal bullion or coins, sale price $1,000 or less | Taxable |
| Jewelry or art made from bullion or coins | Excluded from the exemption |
Local sales taxes
The fiscal note accompanying the 2026 legislation states “Local Effect: None.” The change is to the State sales and use tax exemption.
When the rule took effect
The current rule took effect July 1, 2026, under 2026 Chapters 729 and 730 (HB 500/SB 309), approved May 26, 2026. The legislation expanded a State sales and use tax exemption for the sale of precious metal bullion or coins by exempting all sales where the sales price is greater than $1,000.
The history matters because the rule has moved twice. From July 1, 2025 to June 30, 2026 (Chapter 604 of 2025), the exemption applied only to sales over $1,000 made at the Baltimore Convention Center. Before July 1, 2025, sales over $1,000 were exempt. The online statute page on mgaleg.maryland.gov still showed the Convention Center wording when checked in October 2026, so the statute text and the enacted chapters can read differently.
What buyers commonly get wrong
One common mistake is assuming the exemption is unconditional. It is not: the sale price must be greater than $1,000, and a sale of $1,000 or less is taxable.
A second mistake is treating jewelry and art as covered. Maryland’s definition expressly excludes jewelry and art made from bullion or coins, so a gold chain or a bullion-based sculpture does not fall under the exemption even though the underlying metal does.
A third mistake is relying on the statute page alone. The online text still carried the Baltimore Convention Center wording when checked in October 2026, while the enacted 2026 chapters describe the broader exemption. Buyers who read only the older wording can misstate the rule.
A fourth mistake is assuming the current rule has always applied. The Convention Center limitation ran from July 1, 2025 to June 30, 2026, and the pre-July 2025 rule was different again, so older guidance and older receipts may reflect a rule that no longer governs.
Checking the source
The rule was checked in October 2026 and can change with new legislation. Before a large purchase, confirm the current treatment with the state. The official sources are the enacted 2026 chapter (SB 309), the fiscal note for HB 500, and the statute text for Tax-General Article § 11-214.1. For how these rules fit with federal treatment, see the general page on sales tax on gold.
For a specific transaction, consult a tax professional or your own preparer.
Common questions
Does Maryland charge sales tax on gold and silver bullion?
Only on smaller purchases. Precious metal bullion or coins are exempt from Maryland sales tax when the sale price is greater than $1,000. Sales of $1,000 or less are taxable.
Is there a minimum purchase amount for the Maryland bullion exemption?
Yes. The sale price must be greater than $1,000. A purchase of exactly $1,000 or less does not qualify for the exemption.
Does the Maryland exemption cover gold jewelry?
No. Jewelry and art made from bullion or coins are excluded from the exemption, even when they are made of refined precious metal.
When did Maryland's current bullion sales tax rule take effect?
July 1, 2026, under 2026 Chapters 729 and 730 (HB 500/SB 309), approved May 26, 2026. From July 1, 2025 to June 30, 2026, the exemption applied only to sales over $1,000 at the Baltimore Convention Center.
Read next
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- Sales Tax on Gold and Silver in Montana Montana has no general sales tax, so no state sales tax applies to gold or silver bullion and coins. Learn what that means for buyers.
- Selling Gold: Taxes on the Gain Learn how gold sales are taxed in the U.S.: what triggers the gain, the collectibles rate, and why records matter. Includes a comparison table and common mistakes.
- Capital Gains Tax on Gold: Long-Term vs Short-Term Learn how gold gains are taxed: short-term as ordinary income, long-term as collectibles, with rates, holding period rules, and key distinctions.