Sales Tax on Gold and Silver in Vermont
Vermont charges sales tax on gold and silver bullion, ingots, wafers, and most coins. A 2026 exemption bill was never enacted. Confirm with the state before buying.
Does Vermont charge sales tax on gold and silver?
Yes. Vermont treats precious metals such as bullion, ingots, and wafers as taxable tangible personal property, so sales tax applies when they are bought in the state. Coins and other numismatic items bought for any purpose other than spending at face value are taxable as well.
What qualifies as taxable
Vermont’s sales tax regulation, Reg. 1.9701(7)-1, lists “precious metals such as bullion, ingots, and wafers” among taxable items. It also lists “coins and other numismatic items when purchased other than for use as a medium of exchange.” In practice, that means a purchase of a gold or silver bar, round, ingot, or wafer is taxable, and a coin bought as a collectible or an investment is taxable too.
The one narrow carve-out is a coin bought to be used as a medium of exchange — that is, spent at its face value. A coin used that way is not treated as tangible personal property and is not subject to the tax. Buying a coin to hold, collect, or resell does not fit that description.
What the exemption list says
The “sales not covered” list in 32 V.S.A. § 9741 contains no exemption for bullion or coins. There is no investment-metal exemption in Vermont law.
Is there a purchase threshold?
No. Vermont’s regulation does not set a dollar threshold below which bullion or coin purchases escape the tax. The tax applies to the purchase regardless of the amount spent.
Is jewelry taxed?
Vermont’s regulation addresses bullion, ingots, wafers, and coins. It does not set out a separate rule for jewelry in the materials reviewed here.
Do local sales taxes apply?
Vermont’s local sales tax treatment is not addressed in the materials reviewed here. Buyers should confirm the total tax that applies to a purchase with the Vermont Department of Taxes.
The 2026 exemption bill
H.711 (2026) would have exempted investment precious metals. It was referred to House Ways and Means on January 16, 2026, and was never enacted. The regulations in force are effective January 1, 2019, and no change was enacted between 2024 and 2026.
Vermont gold and silver tax treatment at a glance
| Item | Vermont sales tax |
|---|---|
| Bullion, ingots, wafers | Taxable |
| Coins bought as collectibles or investments | Taxable |
| Coins spent at face value | Not taxable |
| Dollar threshold | None in the regulation |
| Investment-metal exemption | None; H.711 (2026) was never enacted |
What buyers commonly get wrong
A common mistake is assuming that any coin is exempt because it is legal tender. Under Vermont’s regulation, the medium-of-exchange treatment applies to coins purchased for use as a medium of exchange — spending them at face value — not to coins bought to hold or collect. A coin bought as an investment is taxable.
Another common mistake is assuming a minimum purchase amount applies. The regulation sets no dollar threshold, so the tax is not avoided by buying in smaller amounts.
A third is treating the 2026 bill as law. H.711 was referred to House Ways and Means on January 16, 2026 and was never enacted, so it did not change the rule.
Where the rule comes from
The rule appears in Vermont’s sales tax regulation, Reg. 1.9701(7)-1, effective January 1, 2019, and in the sales-not-covered list at 32 V.S.A. § 9741. The 2026 bill is H.711.
For how these purchases are treated at the federal level, see sales tax on gold.
This rule was checked in October 2026 and can change with new legislation. Confirm the current treatment with the Vermont Department of Taxes before a large purchase. For your own situation, consult a tax professional or your own preparer.
Common questions
Does Vermont charge sales tax on gold and silver bullion?
Yes. Vermont's sales tax regulation counts precious metals such as bullion, ingots, and wafers as taxable tangible personal property, and 32 V.S.A. § 9741 contains no bullion exemption.
Are coins exempt from Vermont sales tax?
Only coins bought for use as a medium of exchange — spent at face value — fall outside taxable tangible personal property. Coins and other numismatic items bought for other purposes are taxable.
Is there a minimum purchase amount before Vermont sales tax applies to bullion?
No. Vermont's regulation does not set a dollar threshold, so the tax applies regardless of the amount of the purchase.
Did Vermont pass an exemption for investment precious metals?
No. H.711 (2026) would have exempted investment precious metals, but it was referred to House Ways and Means on January 16, 2026 and was never enacted.
Read next
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