Buying gold in Connecticut
Connecticut exempts some gold bullion and coin purchases from sales tax, but not all. Jewelry is taxed at the 6.35% state rate plus any local tax.
Gold has one national spot price in US dollars: the prices on this page are the same as on the gold price in the United States page. What differs in Connecticut is tax, explained below.
Sales tax on gold in Connecticut
Gold and silver bullion and legal-tender coins are exempt only on transactions of $1,000 or more. Smaller purchases and all platinum, palladium and copper are taxed at 6.35%. HB 7287 (2025) removes the threshold and adds platinum and palladium from July 1, 2027, with a 90% purity floor for gold and silver. Jewelry is taxed at the 6.35% state rate plus any local sales tax.
Tax when you sell gold in Connecticut
Profits on gold are generally taxed by Connecticut like other investment gains, under its income tax rules. At the federal level, the IRS treats bullion and most gold coins as collectibles: long-term gains (assets held more than a year) are taxed at your ordinary rate, capped at 28%, and short-term gains as ordinary income.
Buying and selling rules in Connecticut
Dealers report a customer's sale to the IRS on Form 1099-B only for certain forms and quantities, such as 1-kilo gold bars, 1,000 ounces of silver bars or 25 or more Krugerrands or Maple Leafs; American Eagles and smaller lots are generally not reported. Any business that receives more than $10,000 in cash in one transaction or related transactions files IRS Form 8300. Bring a photo ID when you sell.
What you pay over spot
Dealers sell Gold Eagles, Buffaloes, bars and rounds at a premium over the spot price shown here, which covers minting, shipping and the dealer's margin; small coins carry the biggest premiums. Jewelry adds design and labour. When you sell, dealers usually pay a little under spot for common bullion and the melt value, less a margin, for scrap.
Tax and duty information last reviewed October 2026. Rules change — confirm with your dealer or tax authority before a large purchase.