Sales Tax on Gold and Silver in Ohio

Ohio does not charge sales tax on investment metal bullion or investment coins. The exemption has been in place since October 1, 2021, and remains in the current version of the statute effective September 30, 2025.

What Qualifies as Investment Metal Bullion

Investment metal bullion means bullion described in IRC 408(m)(3)(B). The Ohio Department of Taxation lists the fineness tests as:

Bullion that does not meet the applicable fineness test is not covered by the exemption.

What Qualifies as an Investment Coin

An investment coin is any coin composed primarily of gold, silver, platinum or palladium. For Ohio sales tax purposes, “primarily” means more than 50% of the coin’s composition. There is no minimum purchase amount, so a single qualifying coin or bar is treated the same as a larger order.

What Does Not Qualify

Coins and bars that fall below the fineness standards listed above are not covered. The exemption is written around investment metal bullion and investment coins, so items that do not meet either definition remain outside it.

Local Sales Taxes

Ohio’s exemption is set in state law at R.C. 5739.02(B)(57). The statute does not carve out local sales taxes from the exemption, so the exemption applies to the state sales tax and to the local taxes that sit on top of it.

Checking the Rule Before a Purchase

The rule was checked in October 2026 and can change with new legislation. Before a large purchase, confirm the current treatment with the Ohio Department of Taxation or a tax professional. The official sources are the Department’s taxability guidance, its sales and use tax FAQ, and R.C. 5739.02. For the federal side of owning precious metals, see the general page on sales tax on gold.

What Buyers Commonly Get Wrong About Ohio’s Rule

A frequent mistake is assuming that any coin or bar sold as an investment product automatically qualifies. The exemption turns on the fineness tests for bullion and on the more-than-50% composition test for coins, so a product that does not meet those standards is not covered.

Another common error is treating the exemption as limited to large orders. Ohio sets no minimum purchase amount, so the size of the transaction does not decide whether the exemption applies.

Buyers also sometimes assume the exemption applies only to gold and silver. The fineness tests and the coin definition also cover platinum and palladium.

Finally, the exemption is a matter of Ohio law and can change with new legislation. Buyers with a specific transaction in mind should confirm the current rule with the Ohio Department of Taxation and consult a tax professional or their own preparer about their own situation.