Minnesota Sales Tax on Gold and Silver
CHECKED 2026-10-28. NOT TAX ADVICE.
Minnesota does not charge sales tax on gold and silver bars and rounds that are at least 99.9% pure, but coins are taxed.
The exemption covers bars or rounds that are 99.9 percent or more gold, silver, platinum, or palladium by weight and are marked with weight, purity, and content. The statute does not mention coins, so bullion coins are taxable. Jewelry, works of art, and scrap metal are not covered. Bills in 2025 would have added coins and currency, but the 2025 statutes show no such change.
General state sales tax rate: 6.875%. Minn. Stat. 297A.67 subd. 34 (2025 edition). Rate: 6.5% under 297A.62 subd. 1 plus 0.375% under subd. 1a.
Where this comes from
Minnesota Statutes 297A.67, subdivision 34 (Precious metal bullion), Office of the Revisor of Statutes. 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 Minnesota charge sales tax on gold and silver bullion?
Minnesota does not charge sales tax on gold and silver bars and rounds that are at least 99.9% pure, but coins are taxed. The exemption covers bars or rounds that are 99.9 percent or more gold, silver, platinum, or palladium by weight and are marked with weight, purity, and content. The statute does not mention coins, so bullion coins are taxable. Jewelry, works of art, and scrap metal are not covered. Bills in 2025 would have added coins and currency, but the 2025 statutes show no such change.
Where does this Minnesota rule come from?
Minnesota Statutes 297A.67, subdivision 34 (Precious metal bullion), Office of the Revisor of Statutes: https://www.revisor.mn.gov/statutes/cite/297A.67. 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.