Mississippi Precious Metals Sales Tax
What Precious Metals Are Taxed in Mississippi?
Sales Tax on Precious Metals (Coins and Bars) in Mississippi
If you are buying or selling gold, silver, platinum, or palladium coins and bars in Mississippi, here is the most current information regarding sales tax.
Does Mississippi Charge Sales Tax on Precious Metal Coins and Bars?
Mississippi does NOT charge state sales tax on sales of coins, currency, or bullion.
This exemption took effect July 1, 2023, following the passage of Senate Bill 2862.
The exemption applies to:
Bullion: Bars, ingots, or coins made of gold, silver, platinum, or palladium, used solely as a medium of exchange, security, or commodity by any state, the U.S. government, or a foreign nation, and sold based on their intrinsic value as precious metal or collectible items.
Coins or currency: Coins or currency made of gold, silver, other metal, or paper, used as a medium of exchange, security, or commodity by any state, the U.S. government, or a foreign nation, and sold based on their intrinsic value as precious metal or collectible items.
Jewelry and decorative items made from precious metals are NOT exempt and remain taxable.
Local Taxes
The exemption applies to the state sales tax. There is no indication in the law or official summaries that local sales taxes apply separately to precious metals in Mississippi.
Summary Table: Mississippi Sales Tax on Precious Metals Coins and Bars
| Product Type | State Sales Tax | Notes |
|---|---|---|
| Bullion coins and bars | Exempt | Gold, silver, platinum, palladium |
| Legal tender coins/currency | Exempt | Metal or paper, U.S. or foreign |
| Jewelry/decorative items | Taxable | Not covered by exemption |
Disclaimer
Disclaimer: Sales tax laws and rates regarding precious metals coins and bars in Mississippi may change without notice. This page provides general guidance only. Please consult the Mississippi 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 Mississippi, these transactions are tax-free at the state level as of July 1, 2023. Always verify your specific products and stay updated with the Mississippi Department of Revenue.
Sales tax is assessed according to where one is shipping the purchase to.
Safe Haven Metal uses an advanced sales tax computation system to calculate the correct precious metals’ sales tax applicable to your zip code. Making your purchase the best price with the most accurate tax automatically calculated for you. Now all you need to do is figure out which precious metals you are going to buy next with Safe Haven Metal.
