What States Collect Sales Tax When Buying Costco Gold

Gold has been in the news a lot since it's shot up over 50% in value this year to the lofty price of over $4,000 an ounce.

It was already big news when Costco started selling gold a few years ago, the recent run up in price has only made it even more popular.

But one thing that isn't discussed nearly as often is the role of sales tax. Some states collect it on gold, others don't.

In the great state of Maryland, we now have to pay sales tax whenever we buy gold. Prior to July 1st, 2025, there was an exemption on precious metals purchases over $1,000. That exemption was repealed by House Bill 352 and now we must pay a 6% state sales tax on all precious metals purchases… unless you buy it at the Baltimore Convention Center.

If gold is $4,000 an ounce, I have to pay $4,240 to buy what would cost only $4,000 in nearby Delaware.

In some states, you are exempt if the purchase is for investment purchases, often determined by the difference in the sale price and the face value of the metal or in the purity of the precious metal being sold. In other states, all precious metals and legal tender coins are exempt from sales tax. And then, of course, there are those lovely states that don't assess a sales tax at all (looking at you Alaska, Delaware, Montana, New Hampshire, and Oregon).

If you're buying an ounce of gold from Costco (assuming it's 24kt which means it's 99.9%+ pure gold), here is a list of states and whether you will have to pay sales tax on your purchase (this table was built off great research by GR Reserve):

StateLikely Taxed on 1 oz 99.9% Pure Gold Bar?Notes on Exemptions / AvoidanceOfficial Source
Recent Changes

Alabama	No	Fully exempt; 99.9% pure bars qualify for exemption
Alaska	Possible local tax	No state sales tax; local taxes may apply
Arizona	No	Fully exempt; 99.9% pure bars qualify
Arkansas	No	Fully exempt; 99.9% pure bars qualify
California	Maybe	Exempt if purchase > $2,000; 99.9% pure bars qualify for exemption	CA CDTFA Regulation 1599
Colorado	No	Fully exempt; 99.9% pure bars qualify
Connecticut	Maybe	Exempt if purchase > $1,000; 99.9% pure bars qualify	CPMEX Connecticut Tax Guide
Delaware	No	No sales tax
Florida	Maybe	Exempt if purchase > $500; 99.9% pure bars qualify
Georgia	No	Fully exempt; 99.9% pure bars qualify
Hawaii	Possible	Excise tax applies; no known exemption for precious metals
Idaho	No	Fully exempt; 99.9% pure bars qualify
Illinois	Maybe	Exemption depends on purity & product type; 99.9% bars likely qualify
Indiana	No	Fully exempt; 99.9% pure bars qualify
Iowa	No	Fully exempt; 99.9% pure bars qualify
Kansas	No	Fully exempt; 99.9% pure bars qualify
Kentucky	No	Fully exempt; 99.9% pure bars qualify
Louisiana	No	Fully exempt; 99.9% pure bars qualify
Maine	No	Fully exempt; 99.9% pure bars qualify
Maryland	Yes	6% sales tax after July 2025; no exemption except Baltimore Convention Center	Maryland Legislation HB0357
Massachusetts	No	Fully exempt; 99.9% pure bars qualify
Michigan	No	Fully exempt; 99.9% pure bars qualify
Minnesota	No	Fully exempt; 99.9% pure bars qualify
Mississippi	No	Fully exempt; 99.9% pure bars qualify
Missouri	No	Fully exempt; 99.9% pure bars qualify
Montana	Possible local tax	No state tax; check local jurisdictions
Nebraska	No	Fully exempt; 99.9% pure bars qualify
Nevada	Possible local tax	No state tax; check local jurisdictions
New Hampshire	No	No sales tax
New Jersey	No	Exempt if qualifying investment bullion (99.9% bars qualify)	NJ Division of Taxation
New Mexico	No	Fully exempt; 99.9% pure bars qualify
New York	Maybe	Depends on premium, purity, and product type; 99.9% pure bars often qualify
North Carolina	No	Fully exempt; 99.9% pure bars qualify
North Dakota	No	Fully exempt; 99.9% pure bars qualify
Ohio	Maybe	Exempt if meets purity standards (99.9% bars qualify)
Oklahoma	No	Fully exempt; 99.9% pure bars qualify
Oregon	No	No sales tax
Pennsylvania	No	Fully exempt; 99.9% pure bars qualify
Rhode Island	No	Fully exempt; 99.9% pure bars qualify
South Carolina	No	Fully exempt; 99.9% pure bars qualify
South Dakota	Possible local tax	No state tax; check local jurisdictions
Tennessee	No	Fully exempt; 99.9% pure bars qualify
Texas	No	Fully exempt; 99.9% pure bars qualify
Utah	No	Fully exempt; 99.9% pure bars qualify
Vermont	No	Fully exempt; 99.9% pure bars qualify
Virginia	No	Exemption extended through July 2026; 99.9% bars qualify	Virginia Tax Ruling 23-117
Washington	Yes	Taxable starting Jan 2026 (~10% total tax); no exemptions for bullion bars	WA Department of Revenue Notice
West Virginia	No	Fully exempt; 99.9% pure bars qualify
Wisconsin	No	Fully exempt; 99.9% pure bars qualify
Wyoming	Possible local tax	No state tax; check local jurisdictions

Residents of Washington who are considering gold bullion, you have until January 2026 to avoid paying a sales tax of 10%!

NOTE: As always, confirm with a local expert or with local laws and ordinances on sales tax. There are too many jurisdictions for any single source to be definitive, especially given how laws and ordinances change, so check with yours first.

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