Bellevue 425-454-1283 · Lynnwood 425-672-2646 · Issaquah 425-392-0450 · Tacoma 253-328-4014
On January 1st, 2026, Washington State will implement a new retail sales tax on bullion products including gold and silver. We wrote an in-depth explainer on the new WA state gold tax here, but this quick post will serve as a reminder and provide some updates now that the change is about to take effect.
Back in spring 2025, the WA State Legislature passed legislation that, among other things, repealed the sales tax exemption on bullion items. This change, set to take effect January 1st, 2026, will make gold and silver items subject to sales tax just like any other retail good.
So really, it’s not a new gold tax – it’s just the repeal of an existing exemption. Washington and most other states had previously exempted bullion from retail sales tax, but that’s changing January 1st.
All businesses selling gold in Washington state – including online retailers – will have to start charging retail sales tax on gold/silver/platinum/palladium purchases. This will have a very substantial effect, as sales tax is around 7.5-10.6% depending on the jurisdiction.
To put this into perspective, if you purchase an ounce of gold for $4,375, you’ll pay approximately $328-$464 in taxes on top of that.
Bellevue Rare Coins is no different. Starting on January 1st, we will be required to charge sales tax on all sales of precious metals.
Sales tax varies by local jurisdiction, so you will see slightly different sales tax rates depending on where you shop.
Sales tax will also apply to online orders – so ordering gold or precious metals online will not help you dodge the retail sales tax.
If you are selling precious metals, you won’t have to worry about retail sales tax. The tax only applies on sales made by retailers.
For instance, if you sell your gold to Bellevue Rare Coins, we are a licensed reseller which allows us to make purchases sales-tax-free. Then we collect sales tax, and pass that on to the state, when we sell those items.
This is a standard sales tax, meaning it funds all the same things as standard sales tax on other purchases. This includes infrastructure, public safety, education, etc.
6.5% goes to Washington State, while around 3-3.5% (depending on jurisdiction) goes to the city where the sale takes place.
Retailers do not keep any of this new tax; it is passed on to state and local governments. In fact, we’ll have to pay a new tax of our own, as precious metals sales will now also be subject to a new 0.471% Business and Occupation tax (they were previously exempted).
Washington State businesses like ours are bracing for this upcoming change – and we expect sales of bullion products to decline significantly in the new year.
