Sales and Use Tax - Precious Metal Bullion or Coins - Exemption

HB 357 removes a $1,000 minimum price requirement for tax exemption on precious metal bullion or coins in Maryland. The bill expands the existing sales tax exemption to cover all sales of qualifying precious metal bullion (refined metal where value depends on content) or coins used as currency, regardless of price. It specifically excludes jewelry and art made from precious metals. This change directly affects sellers and buyers of bullion, coins, and related products by eliminating the previous price threshold for tax exemption. The law takes effect July 1, 2025.