Buying gold in Texas
Texas does not charge sales tax on qualifying gold bullion and coins. Jewelry is taxed at the 6.25% 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 Texas is tax, explained below.
Sales tax on gold in Texas
Gold, silver and numismatic coins and platinum, gold and silver bullion are exempt (Tax Code 151.336); the old $1,000 threshold was removed in 2013. Jewelry is taxable.
Tax when you sell gold in Texas
No state personal income tax, so no state tax on bullion gains. 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 Texas
HB 1056 (2025) recognizes gold and silver specie as legal tender and lets the Comptroller set up electronic payments backed by metal held in the Texas Bullion Depository. Provisions phase in from 2026, with the full system targeted for 2027. State depository: Texas Bullion Depository (state-run; created by HB 483 in 2015, opened 2018 in Leander).
Buying and selling rules in Texas
Crafted precious metal dealers (buyers of used jewelry and scrap) must be licensed and file transaction reports, with mandatory holding periods. 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.