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.
Michigan does not charge sales tax on investment coins and bullion. The exemption applies to gold, silver, and platinum bullion that meets a purity standard, and to certain government-issued coins.
What Qualifies as Bullion in Michigan
Bullion means gold, silver, or platinum in a bulk state, where its value depends on its content rather than its form, with a purity of not less than 900 parts per 1,000. Palladium bars are not named in the exemption.
What Qualifies as an Investment Coin
Investment coins are numismatic coins or other money or legal tender of gold, silver, platinum, palladium, or another metal, issued by the U.S. or a foreign government, with a fair market value greater than face value.
Is There a Dollar Threshold?
No. Michigan’s exemption has no dollar threshold. A purchase of any size that meets the definition qualifies.
Does Jewelry Qualify?
The exemption covers investment coins and bullion. Jewelry is not named in the exemption.
Do Local Sales Taxes Apply?
Michigan does not impose local sales taxes, so the state exemption is the only rule that applies.
When the Rule Took Effect
The exemption was added in 1999 by Act 105, with immediate effect on July 7, 1999. It was amended effective September 1, 2004.
Michigan gold and silver tax treatment at a glance
| Item | Michigan sales tax treatment |
|---|---|
| Gold, silver, platinum bullion (900/1,000 purity or higher) | Exempt |
| Investment coins (government-issued, fair market value above face value) | Exempt |
| Palladium bars | Not named in the exemption |
| Jewelry | Not named in the exemption |
| Dollar threshold | None |
| Local sales taxes | Michigan does not impose local sales taxes |
What Buyers Commonly Get Wrong
One common mistake is assuming that any coin or bar is automatically exempt. The exemption is limited to investment coins and bullion as defined in Michigan law. A coin must be issued by the U.S. or a foreign government and have a fair market value greater than its face value. Bullion must be gold, silver, or platinum in a bulk state, valued on content rather than form, with a purity of at least 900 parts per 1,000.
Another mistake is looking for a dollar threshold. Michigan’s exemption has no dollar threshold, so a small purchase and a large purchase are treated the same if the item meets the definition.
A third mistake is assuming the exemption covers every precious metal product. Palladium bars are not named in the exemption, and jewelry is not named either. The rule speaks to investment coins and bullion, not to finished jewelry or every metal in bar form.
Finally, buyers sometimes assume local sales taxes might add to the cost. Michigan does not impose local sales taxes, so there is no local layer to consider.
Confirm Before a Large Purchase
The rule was checked in October 2026 and can change with new legislation. Before a large purchase, confirm the current treatment with the Michigan Department of Treasury or the official source below.
Official source: Michigan Compiled Laws, Section 205.54s
For general background on how gold is taxed federally, see sales tax on gold.
For your own situation, consult a tax professional or your own preparer.
Common questions
Does Michigan charge sales tax on gold and silver bullion?
No. Michigan exempts investment coins and bullion from sales tax. Bullion must be gold, silver, or platinum in a bulk state, valued on content rather than form, with a purity of at least 900 parts per 1,000.
Is there a dollar threshold for the Michigan bullion exemption?
No. Michigan's exemption has no dollar threshold.
Are investment coins exempt from sales tax in Michigan?
Yes. Investment coins are numismatic coins or other money or legal tender of gold, silver, platinum, palladium, or another metal, issued by the U.S. or a foreign government, with a fair market value greater than face value.
Does the Michigan exemption cover jewelry or palladium bars?
The exemption names investment coins and bullion. Jewelry is not named, and palladium bars are not named.
Sources
Read next
- Sales Tax on Gold and Silver in Virginia Virginia exempts gold, silver and platinum bullion and legal tender coins from sales tax, with no minimum purchase. The exemption sunsets July 1, 2028.
- Sales Tax on Gold and Silver in Washington Washington began taxing retail sales of precious metal and monetized bullion on January 1, 2026. See what qualifies, what stays exempt, and what buyers get wrong.
- Sales Tax on Gold and Silver in Kentucky Kentucky exempts currency and bullion from sales tax, including gold and silver bars and coins. Jewelry and collectibles stay taxable. Rule checked October 2026.
- How Silver Is Taxed: Rates, Rules, and Reporting Silver is taxed as a collectible, not as a stock. Learn the federal rates, reporting thresholds, and state sales tax rules for selling silver coins and bullion.
- How Gold Is Taxed in the US: The Collectibles Rule Physical gold is a capital asset that is also a collectible, which caps its long-term rate at 28% instead of 20%. What triggers that rate, and what does not.