Minnesota Precious Metals Sales Tax
What Precious Metals Are Taxed in Minnesota?
Sales Tax on Precious Metals (Coins and Bullion) in Minnesota
If you are buying or selling gold, silver, platinum, or palladium coins and bars in Minnesota, here is the most current information regarding sales tax.
Note: SHM does not currently ship to Minnesota addresses
Does Minnesota Charge Sales Tax on Precious Metal Coins and Bars?
Minnesota currently exempts precious metal bullion and rounds from sales tax.
Effective July 1, 2025:
There is a bill in the legislature to exempt sales tax that will expand to include coins and currency made of gold, silver, or other metals (as well as paper currency used as legal tender) but this bill has not yet passed.
The exemption will apply to bullion, coins, and currency, as defined by law.
Precious metal bullion is defined as bars or rounds that consist of 99.9 percent or more by weight of gold, silver, platinum, or
palladium, and are marked with weight, purity, and content.Coins and currency are defined as any coin or currency made of gold, silver, or other metal or paper which is or has been used as legal tender.
The exemption does not apply to jewelry, works of art, or scrap metal.
Official Government Resources
Summary Table: Minnesota Sales Tax on Precious Metals Coins and Bars
| Product Type | Sales Tax Status (after July 1, 2025) | Notes |
|---|---|---|
| Bullion rounds and bars .999+ | Exempt | Gold, silver, platinum, palladium, rhodium |
| Legal tender coins/currency | Taxable | Metal or paper, used as legal tender |
| Jewelry, art, scrap metal | Taxable | Not covered by exemption |
Disclaimer
Disclaimer: Sales tax laws and rates regarding precious metals coins and bars in Minnesota may change without notice. This page provides general guidance only. Please consult the Minnesota Department of Revenue or a qualified tax professional for the most current and accurate information before making any precious metals transactions.
If you want to buy or sell precious metal coins and bars in Minnesota, these transactions will be tax-free starting July 1, 2025. Always verify your specific products and stay updated with the Minnesota Department of Revenue.
Sales tax is assessed according to where one is shipping the purchase to.
Safe Haven Metal utilizes an advanced sales tax computation system to determine the applicable sales tax on precious metals transactions based on the purchaser’s ZIP code. This system is designed to ensure that the most accurate pricing and corresponding tax calculations are applied to each order.
However, Safe Haven Metal may not have an established economic nexus in every state or jurisdiction. In instances where Safe Haven Metal is not obligated to collect sales tax, and such tax is nonetheless applicable under state or local law, the purchaser is solely responsible for reporting, remitting, and paying any such taxes directly to the appropriate taxing authority.
Safe Haven Metal disclaims any liability for a purchaser’s failure to properly report or remit taxes that may be due in connection with their purchase.
