Sales Tax on Gold and Silver in Tennessee

Direct Answer

Tennessee does not charge sales tax on the purchase of coins, currency, or bullion that meet the state’s definition of precious metal or collectible items. The exemption has been in effect since May 27, 2022, under Public Chapter 1092 (2022), as explained in Tennessee Department of Revenue Important Notice #22-08.

What Qualifies for the Exemption

To be exempt, an item must satisfy three conditions:

1. It must be made wholly or partly of gold, silver, platinum, palladium, or other material.
2. It must be used solely as legal tender, a security, or a commodity in Tennessee, another state, the United States, or a foreign nation.
3. It must be sold mainly for its intrinsic value as precious material or as a collectible item, not for its face value as money.

Collectible paper currency sold for its collectible value also qualifies. The exemption applies to all coins, currency, and bullion that meet these tests.

What Does Not Qualify

Items that do not meet all three conditions above are not covered by the exemption. For example, a coin sold primarily for its face value as money rather than for its intrinsic or collectible value would not qualify. Tennessee’s rule does not state a purity percentage or a minimum purchase amount, so those factors do not determine eligibility.

Purchase Threshold

Tennessee does not set a dollar threshold for this exemption. There is no minimum purchase amount that must be reached before the exemption applies.

Jewelry and Other Items

The exemption described in Public Chapter 1092 covers coins, currency, and bullion. It does not address jewelry or other categories of tangible personal property. Those items are subject to the general sales and use tax rules unless another exemption applies.

Local Sales Taxes

Important Notice #22-08 does not include a local tax note for this exemption. The state exemption applies to the Tennessee sales and use tax. Local sales taxes, if any, are governed by separate rules and are not addressed in the notice.

Tennessee gold and silver tax treatment at a glance

Official Source

The exemption is described in Tennessee Department of Revenue Important Notice #22-08, available at https://www.tn.gov/content/dam/tn/revenue/documents/notices/sales/sales22-08.pdf. The rule was checked in October 2026 and can change with new legislation. Before a large purchase, confirm the current rule with the Tennessee Department of Revenue.

For general information on how sales tax applies to gold across states, see Sales Tax on Gold.

What Buyers Commonly Get Wrong

One common mistake is assuming the exemption applies to every coin or piece of currency. The exemption only covers items that meet all three conditions: made wholly or partly of gold, silver, platinum, palladium, or other material; used solely as legal tender, security, or commodity; and sold mainly for intrinsic or collectible value, not face value. Another mistake is looking for a minimum purchase amount or purity requirement. Tennessee’s rule states neither. A third mistake is assuming the exemption automatically covers jewelry or other items; the notice addresses coins, currency, and bullion only. Finally, some buyers assume the exemption settles all tax questions, but local taxes are not addressed in the notice. Because tax rules can change, consult a tax professional or your own preparer for your specific situation.