Sales Tax on Gold and Silver in Nevada

Nevada generally charges sales tax when you buy gold or silver bullion and coins. There is no investment exemption. Under NAC 372.170, bullion sold at a premium for purposes other than use as a medium of exchange is taxable, and coins sold for more than 50% over face value are treated as collectors’ items and taxed.

What the Nevada rule actually says

The test is not whether the metal is an investment. It is what the purchase is for. Bullion sold at a premium is taxable unless the purpose of its use is as a medium of exchange. The same logic applies to coins: a coin is untaxed only when the purpose is use as a medium of exchange, which for coins means a price not more than 50% over face value. Once a coin sells for more than 50% over face value, Nevada treats it as a collectors’ item and taxes it.

That leaves a narrow untaxed path. Bullion bought to be spent, and coins bought near face value to circulate, can fall outside the tax. Bullion bought at a premium to hold, and coins bought at collector prices, do not.

What qualifies and what does not

Nevada’s regulation does not set a dollar threshold. The dividing line is the purpose of use and, for coins, the 50%-over-face-value price test. Nothing in NAC 372.170 turns on the size of the purchase.

Jewelry, platinum and local taxes

The regulation addresses bullion and coins. It does not set out a separate rule for jewelry or for platinum, so those items are not covered by the medium-of-exchange test described here. No local sales tax note is attached to this rule either; the statewide rule is the one stated in NAC 372.170.

Where the rule comes from

NAC 372.170 was last amended May 5, 2011 (R154-10). The regulation states: “The tax applies to sales of bullion at a premium price for purposes other than use as a medium of exchange. The tax does not apply to sales of bullion, even though sold at a premium price, if the purpose of the use of the bullion is as a medium of exchange.”

The Nevada Department of Taxation publishes sales tax FAQs, and the Nevada Legislature maintains the text of NAC 372. Both are linked below.

• Nevada Department of Taxation sales tax FAQs
• Nevada Administrative Code Chapter 372

This rule was checked in October 2026 and can change with new legislation. Before a large purchase, confirm the current treatment with the state. For how precious metals are taxed at the federal level, see the general page on sales tax on gold.

What buyers commonly get wrong about Nevada’s rule

A common mistake is assuming that any bullion purchase is exempt because it is an investment. Nevada has no investment exemption, and bullion sold at a premium for purposes other than use as a medium of exchange is taxable.

Another mistake is treating every coin as money. Coins are untaxed only when the purpose is use as a medium of exchange, and for coins that means a price not more than 50% over face value. Coins sold for more than 50% over face value are collectors’ items and are taxed.

A third mistake is looking for a dollar threshold. Nevada’s regulation does not set one. The purpose of use, and the 50%-over-face-value coin test, decide the outcome.

Because the rule can change, and because the purpose of a purchase is fact-specific, readers should consult a tax professional or their own preparer about their own situation.