Illinois Sales Tax on Gold and Silver
CHECKED 2026-10-28. NOT TAX ADVICE.
Illinois does not charge sales tax on bullion or on gold and silver coins issued by a government.
The exemption covers legal tender, currency, medallions and gold or silver coinage issued by Illinois, the U.S. or a foreign government, plus bullion, even if the items are now rare. No dollar threshold appears in the Illinois Department of Revenue letter. Coins or medallions from private businesses or other states are taxed, and the whole price of jewelry that holds a coin is taxed. Dealer pages mention a .980 purity minimum and tax on palladium, but the letter read does not say that.
General state sales tax rate: 6.25%. Letter dated January 28, 2021; cites 35 ILCS 120/2-5(18) and 86 Ill. Adm. Code 130.1910(c). General information letters are not binding.
Where this comes from
Illinois Department of Revenue General Information Letter ST 21-0006-GIL (copy on Ezel) (a compiled source, not the state agency itself). Checked 2026-10-28. Local sales taxes and rules for specific items can differ, so read the source before you rely on it.
Under IRS Form 1099-B instructions, a sale of precious metals in a form and quantity that matches a CFTC-approved futures contract (for example, at least 25 gold coins of a covered type) can require the broker or dealer to report it; a single coin sale does not, and sales to the same customer within 24 hours are added together. irs.gov
General information only. This is not tax advice. Rules change and have exceptions.
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Quick answers
Does Illinois charge sales tax on gold and silver bullion?
Illinois does not charge sales tax on bullion or on gold and silver coins issued by a government. The exemption covers legal tender, currency, medallions and gold or silver coinage issued by Illinois, the U.S. or a foreign government, plus bullion, even if the items are now rare. No dollar threshold appears in the Illinois Department of Revenue letter. Coins or medallions from private businesses or other states are taxed, and the whole price of jewelry that holds a coin is taxed. Dealer pages mention a .980 purity minimum and tax on palladium, but the letter read does not say that.
Where does this Illinois rule come from?
Illinois Department of Revenue General Information Letter ST 21-0006-GIL (copy on Ezel) (a compiled source, not the state agency itself): https://ezel.ai/tax-rulings/il/st-21-0006-gil-sale-at-retail. Lustre checked it on 2026-10-28.
Is this tax advice?
No. It is general information from the source above. Rules change and have exceptions. Check with the state tax agency or a tax professional.