Buying gold in Meridian, ID
Idaho does not charge sales tax on qualifying gold bullion and coins. Jewelry is taxed at the 6% state rate plus any local tax. The combined state and local sales tax rate in Meridian is about 6%.
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 Meridian is tax, explained below and on the Idaho page.
Sales tax on gold in Meridian
Not on investment bullion. Precious metal bullion and monetized bullion (coins) are exempt. Commemorative medallions and tokens, accessories, and processed items such as jewelry or colorized coins are taxable. The combined state and local rate is about 6% here.
Full state rules: gold price and tax in Idaho.
Tax when you sell gold in Idaho
HB 40 (2025) removes gains on precious metal bullion and monetized bullion from Idaho taxable income, retroactive to Jan 1, 2025. 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.
Gold and silver as money in Idaho
Idaho Constitutional Money Act (HB 177, 2025) affirms U.S.-issued gold and silver coin as legal tender when both parties agree.
Selling gold or gold jewelry to a dealer in Idaho
- License: No statewide license for gold, precious metal or secondhand dealers was found. The National Pawnbrokers Association says no Idaho state agency licenses or oversees pawn transactions and that some cities regulate pawnbrokers. Pawnbrokers located in a county outside any city limits must get a county pawnbroker's license from the county treasurer, costing $50 per calendar quarter (Idaho Code 63-2303). Cities license precious metal dealers themselves; for example Idaho Falls issues a one-year secondhand precious metals dealer license approved by the City Council, and Boise has its own precious metal dealer license.
- Hold period: No state hold. Varies by city: Boise requires goods to be kept 7 days (City Code 3-9-7); Idaho Falls has no hold and lets dealers resell once records are filed (City Code 4-13-14).
- What the dealer records: No state rule. Example (Idaho Falls): record the item description, seller's name, address and driver's license or Social Security number, date and place of purchase, and later who the item went to; file digitally with the Idaho Falls Police Department within 72 hours; keep records at least 3 years.
- What sellers need: No state rule. Example (Idaho Falls): no purchases from anyone under 18 or anyone under the influence of alcohol or drugs.
- Who is exempt: Example (Idaho Falls): businesses that buy unworked precious metal for manufacturing, jewelry making or repair, dental work or photo developing; trade-ins taken as part payment for new goods and resold in the same form; garage sales.
- Jewelers: Example (Idaho Falls): jewelers buying unworked precious metal for jewelry making or repair are exempt; buying used jewelry from the public is covered.
- The law: No state precious metal dealer act found. Idaho Code 63-2303 (county pawnbroker's license tax). City codes, for example Idaho Falls City Code Title 4, Chapter 13 (Pawnbrokers, Secondhand Precious Metals Dealers and Secondhand Stores) and Boise City Code Title 3, Chapter 9 (Precious Metal Dealers, Sections 3-9-1 to 3-9-9).
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.
Tax and duty information last reviewed October 2026. Rules change — confirm with your dealer or tax authority before a large purchase.