State rankings

Gold and Silver Legal Tender States

Gold and Silver Legal Tender States: compare 51 US states on 2 metrics.

EconomicsLaw51 states · 2 metricsUpdated Aug 19, 2024Original page
20 sources

Legal Tender

3 values across 51 entries

Data

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51 states
AlabamaNot LegalAlabama has exempted gold and silver from sales and capital gains taxes through Senate Bills 13 (2022) and 297 (2024)., However, the state has not enacted any law recognizing gold and silver as legal tender or established a state bullion depository.
AlaskaNot LegalAlaska does not recognize gold or silver as legal tender and has no state bullion depository. The state lacks both income and statewide sales taxes, meaning precious metals are effectively exempt from such taxation.| As of Novermber 2025, no legislation has been passed to desi…
ArizonaLegalArizona recognizes gold and silver as legal tender following the passage of House Bill 2014 in 2017., Sales of precious metal bullion and monetized bullion are exempt from state sales tax under statute 42-5061, and capital gains on gold and silver are not taxed.+1
ArkansasLegalEnacted the Arkansas Legal Tender Act (Act 595) on April 11 2023 (effective August 1 2023) recognizing gold and silver coins and bullion (“specie”) as legal tender and exempting their purchase, sale, or exchange from tax liability.
CaliforniaNot LegalCalifornia has not recognized gold or silver as legal tender., The state enacted a sales tax exemption in 2023 under Article 7, Regulation 1599, applying only to purchases of $2,000 or more.+1
ColoradoNot LegalColorado exempts retail sales of coins and precious metal bullion from sales tax under the Colorado Department of Revenue., Gold and silver are still subject to capital gains taxation.
ConnecticutNot LegalConnecticut exempts sales of rare or antique coins, gold or silver bullion, and legal tender over $1,000 from sales tax (threshold removed by HB 7287 effective 7/1/2027)., Gold and silver remain subject to capital gains taxation.
DelawareNot LegalDelaware has no state or local sales tax (gross receipts tax applies)>, Gold and silver remain subject to capital gains taxation and are not recognized as legal tender.
District of ColumbiaNot Legal—
FloridaNot LegalFlorida exempts sales tax on gold, silver, and platinum bullion over $500 and on U.S. minted legal tender coins., Florida has no state-level capital gains tax on precious metals and does not recognize gold and silver as legal tender.
GeorgiaNot LegalGeorgia exempts sales tax on gold, silver, and platinum bullion and coins., Gold and silver remain subject to capital gains taxation and are not recognized as legal tender.
HawaiiNot LegalHawaii has no sales tax exemption for precious metals (GET applies to businesses)., Gold and silver remain subject to capital gains taxation and are not recognized as legal tender.
IdahoNot LegalIdaho exempts sales of precious metal bullion and monetized bullion from sales tax, but gold and silver remain subject to capital gains taxation.
IllinoisNot LegalIllinois exempts sales of legal tender, medallions, and bullion from sales tax., Gold and silver remain subject to capital gains taxation and are not recognized as legal tender.
IndianaNot LegalSenate Bill 99 was introduced in 2013 to declare U.S.-minted gold and silver coins as legal tender and tax-exempt, but the bill did not pass into law., Gold and silver are not officially recognized as legal tender in Indiana.
IowaNot Legal—
KansasNot LegalKansas exempts all sales of gold or silver coins, and palladium, platinum, gold, or silver bullion from sales tax under HB 2140 (effective July 1, 2019)., Bills have been proposed to declare U.S.-minted gold and silver coins as legal tender (e.g., committee action in 2013, SB…
KentuckyNot LegalKentucky included a sales tax exemption for gold, silver, platinum, and palladium coins, rounds, and bullion in HB 8 (2024), but Governor Beshear’s line-item veto challenged the exemption. Its legal status remains in dispute., Gold and silver remain subject to capital gains t…
LouisianaLegalLouisiana exempts sales of platinum, gold, or silver bullion (valued on metal content) and certain numismatic coins under HB 396 (2017)., Senate Bill 232 (2024) reaffirmed that gold and silver coins, specie, or bullion issued by the U.S. government are legal tender when volun…
MaineNot LegalMaine legislators introduced LD 664 (2017) to provide a sales tax exemption for gold and silver coins and bullion, but it was not enacted., Gold and silver remain subject to capital gains tax.+1
MarylandNot LegalMaryland allowed the longstanding sales tax exemption on gold, silver, and other precious metals bullion or coins to expire in 2025, and attempts to extend it for purchases over $1,000 failed., Gold and silver remain subject to capital gains tax.+1
MassachusettsNot LegalMassachusetts provides a sales tax exemption on purchases of $1,000 or more of rare coins of numismatic value, gold or silver bullion or coins, or gold or silver tender of any nation traded according to its precious metal value., Gold and silver remain subject to capital gain…
MichiganNot LegalMichigan provides a sales tax exemption on sales of investment coins and bullion as defined by law (gold, silver, platinum with a purity of at least 900 parts per 1,000, or numismatic coins issued by the U.S. or foreign governments)., Gold and silver remain subject to capital…
MinnesotaNot LegalMinnesota provides a partial sales tax exemption for precious metal bullion (99.9% or more gold, silver, platinum, or palladium bars or rounds) but does not include coins., Gold and silver remain subject to capital gains tax.+1
MississippiNot LegalMississippi eliminated sales tax on purchases of gold, silver, platinum, and palladium coins, bars, and rounds in 2023., Gold and silver remain subject to capital gains tax.+1
MissouriNot LegalMissouri: Senate Bill 735 (2024) passed the Senate but died in the House of Representatives. Proposed legislation (HB 630, 2025) — the “Constitutional Money Act” — would recognize gold and silver as legal tender for state debts and allow optional acceptance for private debts, …
MontanaNot LegalMontana has no sales tax. Gold and silver remain subject to capital gains taxation., Montana has not declared gold or silver legal tender, has no bullion depository, and holds no reserves or pension fund assets in precious metals.
NebraskaNot LegalNebraska exempts bullion and currency from sales tax (LB 867) and does not tax capital gains on gold and silver (LB 1317, 2024)., Nebraska has not declared gold or silver legal tender.
NevadaNot LegalNevada exempts bullion used as a medium of exchange from sales tax (NAC Chapter 372) and has no state income tax, so capital gains on gold and silver are not taxed., Nevada has not declared gold or silver legal tender
New HampshireNot LegalNew Hampshire has no sales tax and no state capital gains tax, so purchases or gains on gold and silver are not taxed., New Hampshire has not declared gold or silver legal tender.
New JerseyNot LegalNew Jersey exempts investment metal bullion and high-value investment coins from sales tax starting January 1, 2025 (S721, 2024)., Gold and silver are still subject to state capital gains taxation.
New MexicoNot LegalNew Mexico imposes a gross receipts tax instead of a sales tax, and gold and silver are subject to state capital gains taxation.
New YorkNot LegalNew York exempts most investment-grade precious metal bullion from sales tax if purchased over $1,000, but gold and silver are subject to state capital gains taxation., New York has not declared gold or silver legal tender.
North CarolinaNot LegalNorth Carolina exempts investment-grade precious metals from sales tax, but gold and silver remain subject to state capital gains taxation., North Carolina has not declared gold or silver legal tender.
North DakotaNot LegalNorth Dakota exempts refined investment-grade precious metals from sales tax, but gold and silver remain subject to state capital gains taxation., North Dakota has not declared gold or silver legal tender.
OhioNot LegalOhio exempts investment-grade precious metals from sales tax as of October 2021, but gold and silver remain subject to state capital gains taxation., Ohio has not declared gold or silver legal tender.
OklahomaLegalOn June 4, 2014, Governor Mary Fallin signed into law Senate Bill 862, recognizing gold and silver US-minted coins as legal tender and exempting them from state taxation.
OregonNot Legal—
PennsylvaniaNot Legal—
Rhode IslandNot Legal—
South CarolinaNot LegalHouse Bill H.3504 (Feb 2013) passed the House on 4/11/2013 to declare gold & silver coins legal tender and bar compulsion of acceptance, but the bill stalled in the Senate and never became law. No recognition of gold/silver as legal tender is currently in effect.
South DakotaNot LegalSouth Dakota exempts the sale of coins, currency, or bullion from state sales tax under §10-45-110 of the South Dakota Codified Laws., The state has no income tax, so gains on gold/silver are not taxed at the state level.+1
TennesseeNot LegalTennessee exempted many gold, silver, platinum and palladium coins, currency and bullion from sales tax under HB 1874/SB 1857 (2022). The state does not levy a separate capital‑gains tax on precious metals., Although a 2016 resolution (HJR 516) supported a state bullion depos…
TexasPendingTexas passed HB 1056 in 2025, which adds Subchapter D (Chapter 2116) to the Government Code declaring gold and silver to be legal tender in the state. It takes effect in part on Sept 01, 2026 and in full on May 01, 2027., The law further states no person may be *required* to …
UtahLegalUtah became the first state to declare US-minted gold and silver coins as legal tender., The Utah Legal Tender Act was passed on March 10, 2011, setting the stage for other states to pursue similar legislation.
VermontNot LegalVermont imposes a 6% sales tax on purchases of gold and silver and subjects gains to state income/capital gains tax. Vermont has not recognized gold or silver coins as legal tender., Vermont does not have a state bullion depository and does not hold reserves or pension fund a…
VirginiaNot LegalVirginia exempts purchases of gold, silver, and platinum bullion and coins from sales tax, but gains are subject to state income/capital gains tax., Virginia has not recognized gold or silver coins as legal tender.
WashingtonNot LegalWashington repealed its sales tax exemption on gold and silver in 2025 (SB 5794)., Washington does not recognize gold or silver coins as legal tender.
West VirginiaNot LegalWest Virginia exempts investment metal bullion and investment coins from sales tax (SB 502, 2019)., However, gold and silver are not recognized as legal tender in West Virginia. A 2024 Senate bill (SB 843) attempting to establish gold and silver as legal tender died in commit…
WisconsinNot LegalWisconsin exempts precious metals bullion from sales tax (AB 29, 2024) but does not recognize gold or silver as legal tender., Gold and silver are subject to capital gains taxation.
WyomingLegalWyoming enacted the Wyoming Legal Tender Act (HB103) in 2018, recognizing gold and silver coins and bullion as legal tender and exempting them from sales taxation.

Quick answers

Where does this gold and silver legal tender states data come from?
Rankodex compiles it from World Population Review and the primary sources it cites: Arkansas Code of 1987 (2024) - JUSTIA US Law; State Laws Can Help Restore Gold and Silver as Money - Sound Money Defense League; Missouri Bill Would Take Steps Toward Treating Gold and Silver as Money - Schiff Gold; HB 1481 - Tennessee General Assembly.

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