Sales Tax on Gold and Silver in Mississippi

Mississippi does not charge sales tax on purchases of coins, currency or bullion. The exemption has been in effect since July 1, 2023, when SB 2862 amended Miss. Code §27-65-111.

What the exemption covers

Bullion means a bar, ingot or coin made wholly or partly of gold, silver, platinum or palladium that was or is used solely as a medium of exchange, security or commodity by any state, the U.S. government or a foreign nation, and that is sold on its intrinsic value as precious metal or collectible rather than its face value.

Coin or currency means gold, silver, other metal or paper money that meets the same tests.

There is no dollar threshold and no purity test. A purchase qualifies on the nature of the item, not on how much is spent or how fine the metal is.

What does not qualify

Coins or currency made into jewelry are excluded from the exemption. Mississippi’s rule does not otherwise address jewelry, platinum or palladium items outside the definitions above.

Local sales taxes

No local tax treatment is stated in the legislation.

Mississippi gold and silver tax treatment at a glance

Official sources

The Mississippi Department of Revenue lists the 2023 legislation at dor.ms.gov/2023-legislation, and the bill text is available through the Mississippi Legislature at billstatus.ls.state.ms.us.

The rule was checked in October 2026 and can change with new legislation. Confirm the current treatment with the state before a large purchase.

What buyers commonly get wrong

One common error is assuming a minimum purchase amount is required. Mississippi’s exemption sets no dollar threshold, so the size of the transaction does not determine whether tax applies.

Another is assuming a purity standard must be met. The statute contains no purity test; the question is whether the item fits the definitions of bullion, coin or currency.

A third is treating all coins the same. Coins or currency made into jewelry are excluded, so an item that has been converted into jewelry does not qualify even though it contains precious metal.

A fourth is overlooking the effective date. The exemption applies from July 1, 2023, under SB 2862, and purchases before that date were governed by the earlier rule.

For general background on how states treat these purchases, see sales tax on gold.

Because the rule can change with new legislation, and because the definitions turn on how an item is used and sold, readers should consult a tax professional or their own preparer about their own situation.