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.
Washington charges retail sales tax on purchases of precious metal bullion and monetized bullion. The change took effect January 1, 2026, when the long-standing exclusion was repealed, so bullion that was generally exempt before that date is now taxable.
What Washington taxes
Precious metal bullion means gold, silver, platinum, rhodium, and palladium valued on content. Monetized bullion means coins and other metal money used as legal tender. Both are subject to retail sales tax and B&O tax when sold at retail. The Department of Revenue states that sellers “must collect sales tax” on sales to end consumers.
What stays exempt
Paper currency sold or exchanged as legal tender remains exempt. Sales to resellers holding a valid reseller permit are wholesale transactions and are not subject to retail sales tax.
Is there a dollar threshold?
No. The change applies to retail sales of the covered bullion and coins without a minimum purchase amount.
What about jewelry?
The Department of Revenue notice addresses precious metal bullion and monetized bullion. It does not set out a separate rule for jewelry here.
Do local sales taxes apply?
The Department of Revenue notice says sellers must collect sales tax on sales to end consumers, but it does not split state and local tax. Buyers should confirm the combined rate that applies at the point of sale.
Washington gold and silver tax treatment at a glance
| Item | Washington treatment |
|---|---|
| Precious metal bullion (gold, silver, platinum, rhodium, palladium valued on content) | Taxable at retail since January 1, 2026 |
| Monetized bullion (coins and other metal money used as legal tender) | Taxable at retail since January 1, 2026 |
| Paper currency as legal tender | Exempt |
| Sales to resellers with a valid reseller permit | Wholesale, not subject to retail sales tax |
| Dollar threshold | None |
What buyers commonly get wrong
A frequent mistake is assuming the old exemption still applies. Before January 1, 2026, these sales were generally exempt; that is no longer the case. Another is treating a purchase as exempt because it involves coins. Monetized bullion is covered, so the form of the metal does not remove it from tax. A third is overlooking the reseller permit. Only sales to resellers with a valid permit are treated as wholesale and outside retail sales tax. Finally, some buyers believe a pending bill has already restored the exemption. HB 2115 (2026) would have restored it, but as of October 13, 2026 it was still sitting in House Finance and was not enacted.
The rule was checked in October 2026 and can change with new legislation. Confirm the current treatment with the Washington Department of Revenue before a large purchase. For how these purchases are treated at the federal level, see sales tax on gold.
Official sources
- Sales of precious metal bullion and monetized bullion now subject to B&O tax and retail sales tax
- Currency, coins, and precious metal bullion
- Department of Revenue draft publication
- HB 2115 bill summary
For your own situation, consult a tax professional or your own preparer.
Common questions
Does Washington charge sales tax on gold and silver bullion?
Yes. Since January 1, 2026, retail sales of precious metal bullion and monetized bullion are subject to retail sales tax and B&O tax.
When did Washington start taxing bullion sales?
January 1, 2026. Before that date, these sales were generally exempt.
Are coins taxed in Washington?
Monetized bullion, meaning coins and other metal money used as legal tender, is taxable at retail. Paper currency sold or exchanged as legal tender remains exempt.
Did Washington restore the bullion exemption?
No. HB 2115 (2026) would have restored the exemption, but as of October 13, 2026 it was still sitting in House Finance and was not enacted.
Read next
- Sales Tax on Gold and Silver in Washington, D.C. Washington, D.C. charges sales tax on retail purchases of gold and silver bullion and coins, with no exemption in the D.C. Code for precious metals.
- 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 Missouri Missouri exempts bullion and investment coins from state and local sales tax, with no dollar threshold. Learn what qualifies and what does not.
- Sales Tax on Gold and Silver in Rhode Island Rhode Island exempts precious metal bullion and coins with numismatic or investment value from sales tax. Learn what qualifies and what does not.
- Sales Tax on Gold and Silver in Alaska Alaska has no state sales tax, but about 110 local governments levy their own. Whether bullion and coins are taxed depends on the local ordinance.