Sales Tax on Gold and Silver in Utah
Utah exempts legal-tender coins and gold, silver or platinum bullion with 50% or more metal content from sales tax. No minimum purchase amount applies.
The short answer
Utah does not charge sales tax on most purchases of gold and silver bullion and coins. Legal-tender coins are exempt outright, and gold, silver or platinum items that are not legal tender are exempt when their metal content is 50% or more. There is no minimum purchase amount.
What qualifies for the exemption
Utah law sets out the exemption in three parts.
Legal-tender coins. Currency or coins that are legal tender of a state, the United States or a foreign nation are exempt. Any metal qualifies, and no purity test applies.
Bullion and related items that are not legal tender. Gold, silver or platinum ingots, bars, medallions or decorative coins are exempt if the item’s gold, silver or platinum content is 50% or more. Palladium is not named in the exemption.
Notes, leaf, foil and film. A note, leaf, foil or film used as currency that is not legal tender is also exempt when its gold, silver or platinum content is 50% or more.
What does not qualify
An item that is not legal tender and whose gold, silver or platinum content is below 50% does not fall within the bullion exemption. Palladium is not named, so the exemption does not cover it. The statute does not set out a rule for jewelry, so no jewelry-specific treatment is described here.
Is there a purchase threshold?
No. Utah’s exemption has no minimum purchase amount. A qualifying item is exempt regardless of how small or large the transaction is.
Do local sales taxes still apply?
The exemption in Utah Code 59-12-104 applies to sales “from the taxes imposed by this chapter,” which is the Sales and Use Tax Act. Utah’s local sales taxes are also in that chapter, so local tax should not apply either. That reading comes from the structure of the statute rather than a separate official statement.
Utah gold and silver tax treatment at a glance
| Item | Utah sales tax |
|---|---|
| Legal-tender coins (any metal) | Exempt |
| Gold, silver or platinum bullion, bars, medallions, decorative coins, 50% or more metal | Exempt |
| Gold, silver or platinum note, leaf, foil or film used as currency, 50% or more metal | Exempt |
| Palladium | Not named in the exemption |
| Minimum purchase amount | None |
| Local sales taxes | Should not apply, based on the statute’s structure |
What buyers commonly get wrong
One common mistake is assuming a purity test applies to legal-tender coins. It does not. The exemption for currency or coins that are legal tender of a state, the United States or a foreign nation applies to any metal, with no purity requirement.
Another is assuming the 50% content test applies to everything. It applies only to items that are not legal tender. For legal-tender coins, the test is irrelevant.
A third is treating palladium as covered. The exemption names gold, silver and platinum. Palladium is not named.
A fourth is looking for a dollar threshold. Utah’s exemption has no minimum purchase amount, so there is nothing to reach before the exemption applies.
A fifth is assuming local sales taxes are added on top. Because the exemption is written against the taxes imposed by the Sales and Use Tax Act, and Utah’s local sales taxes sit in that same chapter, local tax should not apply either.
Effective date and checking the rule
The current text is in the version effective July 1, 2026, amended by Chapter 433 of the 2026 General Session. The published 2027 and 2028 versions keep the same wording for the legal-tender and bullion provisions. The original enactment date was not shown.
The rule was checked in October 2026 and can change with new legislation. Confirm the current position with the state before a large purchase.
Official sources: Utah Code 59-12-104, version effective July 1, 2026 and Utah Code 59-12-104, 2027 version.
For general background on how precious metals are treated at the federal level, see sales tax on gold.
For how the rule applies to a specific situation, consult a tax professional or your own preparer.
Common questions
Does Utah charge sales tax on gold and silver coins?
Coins that are legal tender of a state, the United States or a foreign nation are exempt, regardless of the metal. Gold, silver or platinum coins that are not legal tender are exempt when their metal content is 50% or more.
Is there a minimum purchase amount for the Utah bullion exemption?
No. Utah's exemption has no minimum purchase amount, so a qualifying item is exempt no matter how small or large the transaction is.
Does the Utah exemption cover palladium?
Palladium is not named in the exemption. The statute names gold, silver and platinum.
Do local sales taxes apply to bullion in Utah?
The exemption applies to the taxes imposed by the Sales and Use Tax Act, and Utah's local sales taxes are in that same chapter, so local tax should not apply either. That reading comes from the structure of the statute rather than a separate official statement.
Read next
- Sales Tax on Gold and Silver in Washington Washington began taxing retail sales of precious metal and monetized bullion on January 1, 2026. See what qualifies, what stays exempt, and what buyers get wrong.
- Sales Tax on Gold and Silver in Virginia Virginia exempts gold, silver and platinum bullion and legal tender coins from sales tax, with no minimum purchase. The exemption sunsets July 1, 2028.
- Sales Tax on Gold and Silver in Texas Texas exempts gold, silver and numismatic coins and platinum, gold or silver bullion from sales tax. No minimum purchase applies. Learn what qualifies.
- How Silver Is Taxed: Rates, Rules, and Reporting Silver is taxed as a collectible, not as a stock. Learn the federal rates, reporting thresholds, and state sales tax rules for selling silver coins and bullion.
- How Gold Is Taxed in the US: The Collectibles Rule Physical gold is a capital asset that is also a collectible, which caps its long-term rate at 28% instead of 20%. What triggers that rate, and what does not.