Utah Precious Metals Sales Tax

What Precious Metals Are Taxed in Utah?

Sales Tax and Legal Status of Precious Metals (Coins and Bars) in Utah

If you are buying or selling gold, silver, platinum, or palladium coins and bars in Utah, here is the most current information.

Does Utah Charge Sales Tax on Precious Metal Coins and Bars?

  • Utah exempts from sales tax:

    • Coins and currency that are legal tender of the United States, any U.S. state, or any foreign nation.

    • Bullion items (bars, ingots, rounds, medallions) made of gold, silver, or platinum with a precious metal content of at least 50%, even if not legal tender.

  • Taxable items include:

    • Bullion products with less than 50% precious metal content.

    • Copper and palladium products.

    • Coins that are not legal tender.

    • Paper currency no longer in circulation as legal tender.

    • Accessories (holders, tubes, coin flips).

    • Processed bullion and items valued for more than metal content (colorized coins, jewelry, statues).

Recent Legislative Developments

  • In 2025, Utah passed legislation enabling state vendors to be paid in gold and silver, allowing the state treasurer to establish a precious metals-backed electronic payment system for government transactions.

  • The state treasurer is now authorized to invest a portion of public funds in precious metals, with administrative costs deducted from investment earnings.

  • Utah continues to lead in integrating precious metals into both public finance and private transactions.

Capital Gains Tax

  • Utah taxes capital gains, including those from precious metals, at the same rate as ordinary income—a flat rate of 4.65% as of 2025.

Official Government References

Summary Table: Utah Sales Tax on Precious Metals 

Product Type Sales Tax Status Notes
Legal tender coins/currency Exempt U.S., state, or foreign legal tender
Bullion (≥50% gold, silver, platinum) Exempt Bars, rounds, medallions, ingots
Bullion (<50% precious metal), copper, palladium Taxable Subject to sales tax
Non-legal tender coins Taxable Subject to sales tax
Accessories, processed items Taxable Holders, tubes, jewelry, colorized coins, etc.
 

Disclaimer

Disclaimer: Tax laws and rates regarding precious metals coins and bars in Utah may change without notice. This page provides general guidance only. Please consult the Utah State Tax Commission 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 Utah, most investment-grade legal tender coins and bullion (with at least 50% precious metal content) are tax-free. Other products such as low-purity bullion, copper, palladium, accessories, and processed items remain taxable. Utah is also pioneering the use of gold and silver for state payments and investments. Always verify your specific products and stay updated with the Utah State Tax Commission.

 

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.

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