Effective August 1, 2025, Florida has officially removed the $500 minimum purchase requirement for sales tax exemption on gold, silver, and platinum bullion. This legislative change marks a significant win for investors, dealers, and the broader precious metals industry in Florida.
In this article, we’ll break down what the new law entails, its implications for buyers and sellers, and how it fits into the growing nationwide movement toward sound money policies.
What Changed?
Until now, Florida law exempted sales tax on qualifying precious metals only when purchases exceeded $500. Under the updated legislation—passed as House Bill 7031 and codified through adjustments to Florida Statutes 212.08(7)(ww) and Rule 12A-1.0371, Florida Administrative Code—that threshold has been eliminated.
Now, all qualifying bullion purchases are tax-exempt, regardless of the transaction amount. A single silver round or a small gold bar—once subject to state sales tax—can now be acquired without added cost, leveling the playing field for investors at all price points.
Legislative Overview
| Legislation | Details |
|---|---|
| House Bill 7031 | Repealed the $500 minimum requirement for bullion tax exemption |
| Effective Date | August 1, 2025 |
| Applies To | Investment-grade bullion (gold, silver, platinum) meeting IRS standards |
| Exclusions | Collectible or numismatic coins not classified as bullion under IRS criteria |
| Enforcement Body | Florida Department of Revenue |
The change was confirmed through the Department of Revenue’s Tax Information Publication (TIP #25A01-03), which clarifies that all sales of qualifying bullion will now be tax-free, irrespective of the dollar amount.
Why This Matters for Investors
1. Improved Access for New and Small-Scale Buyers
Removing the $500 threshold makes it easier for individuals to begin investing in precious metals. Investors can now buy a single coin or a small bar without the additional cost burden of sales tax—encouraging broader participation in tangible asset ownership.
2. Strengthened Florida Bullion Market
Bullion dealers in Florida now enjoy a significant competitive advantage. With no sales tax on any bullion purchases, Florida becomes one of the most investor-friendly states for precious metals—particularly compared to states that still impose taxes.
3. Broader Implications for Sound Money Policy
Florida joins a growing list of states—including Tennessee, Utah, and Arkansas—that have taken steps to treat gold and silver as money rather than as taxable commodities. These policy shifts reflect increasing concern over fiat currency instability, inflation, and central bank monetary policy.
What Qualifies for Tax Exemption?
According to Florida law and federal IRS guidelines, the following items qualify as exempt under the new rules:
-
Gold, silver, or platinum bullion in bar, coin, or round form
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Products with recognized purity (e.g., .999 silver, .9999 gold)
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Non-numismatic items held primarily for investment purposes
Important Note: Numismatic or collectible coins that do not meet bullion classification may still be subject to tax. Call your advisor at (877) 795-9585 if you have questions or need more clarity.
Practical Implications
| Stakeholder | Impact of the Policy Change |
|---|---|
| Retail Investors | Lower entry costs; improved portfolio diversification options with tangible assets |
| Bullion Dealers | Enhanced competitiveness; increased customer traffic and local economic stimulation |
| Financial Advisors | Opportunity to educate clients on tax-advantaged tangible asset strategies |
| Out-of-State Buyers | Incentive to purchase from Florida-based dealers due to favorable tax treatment |
Florida: A Leading State for Precious Metals Investors
This policy shift solidifies Florida’s position as a premier jurisdiction for precious metals ownership. By eliminating unnecessary tax burdens, the state demonstrates a commitment to economic freedom and financial autonomy for its residents.
For investors, it signals an optimal time to enter the market—or to expand existing holdings—with fewer transactional barriers.
Final Thoughts
Florida’s repeal of the $500 bullion threshold is more than a tax code update—it’s a strategic move toward treating gold, silver, and platinum as legitimate financial assets. Whether you're a seasoned stacker or a first-time buyer, the new exemption makes precious metals more accessible and affordable than ever.
As always, consult with your precious metals advisor or portfolio strategist to determine how these updates fit into your long-term wealth plan.
Ready to take advantage of Florida’s new tax-free bullion policy?
Speak with an expert at American Standard Gold to learn how to diversify your holdings with physical gold and silver today.
