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.
Virginia does not charge sales tax on purchases of gold, silver or platinum bullion and legal tender coins. The exemption is set by Va. Code 58.1-609.1(19) and currently has no minimum purchase amount.
What qualifies for the exemption
Bullion means refined gold, silver or platinum, or a combination of those metals, whose value depends on mass and purity rather than form or numismatic value. It may contain other metals of minimal value. Legal tender coins are coins of any metal issued by a government as a medium of exchange or as payment of debts.
What does not qualify
Jewelry and works of art are excluded from the exemption and remain subject to sales tax. Palladium bullion is not named in the statute, so it is not covered by this exemption. The rule also does not set a dollar threshold: there is no minimum purchase amount that must be met before the exemption applies.
Sunset date and recent extensions
The exemption is temporary. The 2026 Appropriation Act extended its sunset from July 1, 2026 to July 1, 2028. That extension is Item 3-5.22 of the 2026 Appropriation Act (House Bill 30, Special Session I, Chapter 1), effective July 1, 2026. Before that, the 2025 Appropriation Act (HB 1600, Chapter 725, Item 3-5.25) had extended the sunset from July 1, 2025 to July 1, 2026.
The online Code still shows the outdated “Effective through June 30, 2025” wording. The 2025 and 2026 Appropriation Acts override that text.
Local sales taxes
The Department of Taxation’s October 2025 report estimates the exemption’s revenue impact across General Fund, Transportation and Local+Regional columns, all marked “unknown.” That suggests local and regional sales taxes are exempt too, but the report does not say so in words.
Virginia gold and silver tax treatment at a glance
| Item | Virginia treatment |
|---|---|
| Gold, silver, platinum bullion | Exempt |
| Legal tender coins | Exempt |
| Jewelry and works of art | Taxed |
| Palladium bullion | Not named in the exemption |
| Minimum purchase amount | None |
| Sunset date | July 1, 2028 |
What buyers commonly get wrong
One common mistake is relying on the online Code’s “Effective through June 30, 2025” wording. The 2025 and 2026 Appropriation Acts override it, so the exemption runs to July 1, 2028.
Another is assuming the exemption covers everything made of precious metal. Jewelry and works of art are excluded, and palladium bullion is not named.
A third is looking for a minimum purchase amount. The current statute has none.
A fourth is assuming the exemption is permanent. It is temporary and tied to a sunset date that the General Assembly has already moved twice.
Official sources
The rule was checked in October 2026 and can change with new legislation. Confirm with the state before a large purchase. 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 Virginia charge sales tax on gold and silver bullion?
No. Va. Code 58.1-609.1(19) exempts gold, silver and platinum bullion and legal tender coins from sales tax, with no minimum purchase amount.
Does the Virginia bullion exemption cover jewelry?
No. Jewelry and works of art are excluded from the exemption and remain subject to sales tax.
When does the Virginia bullion sales tax exemption expire?
The 2026 Appropriation Act extended the sunset from July 1, 2026 to July 1, 2028. The exemption is temporary and can change with new legislation.
Is palladium bullion exempt from sales tax in Virginia?
Palladium bullion is not named in the exemption, which covers gold, silver and platinum bullion and legal tender coins.
Read next
- Sales Tax on Gold and Silver in West Virginia West Virginia exempts investment metal bullion and investment coins from sales and use tax under W. Va. Code 11-15-9r. Learn what qualifies and what does not.
- 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 Arizona Arizona's state transaction privilege tax excludes precious metal bullion and monetized bullion. City taxes can still apply, including to numismatic coins.
- 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.