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Bill

HB 2093

Reinstating the tax exemptions for the sale of precious metals and bullion.

2025-2026 Regular Session Introduced by Rob Chase and 5 co-sponsors

Reinstates sales tax exemptions for precious metals and bullion purchases, reducing state revenue in exchange for potential investment incentives.

Prefiled for introduction.
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WeVote Research Nonpartisan
Bill Summary · HB 2093

Legislative bill overview

HB 2093 proposes to reinstate tax exemptions for the sale of precious metals and bullion in Washington State. The bill would allow buyers of gold, silver, platinum, and similar precious metals to avoid paying sales tax on these purchases, reversing or modifying existing tax policy on such transactions.

Why is this important

Precious metals are often purchased as investments or stores of value rather than consumable goods. Tax exemptions on these sales could affect state revenue while potentially making precious metal investments more attractive to Washington residents, influencing how people allocate savings and affecting the state's general fund.

Potential points of contention

  • Revenue impact: Removing sales tax on precious metals would decrease state tax revenue, requiring either budget cuts elsewhere or identification of alternative revenue sources
  • Investment vs. consumption distinction: Determining which metal products qualify (coins, bars, jewelry, industrial use) and why investment metals deserve different tax treatment than other investments raises philosophical questions about tax policy equity
  • Economic policy goals: Disagreement over whether tax incentives for precious metal purchases represent sound economic policy or constitute special interest favoritism for particular investment classes

Compiled from official sources — confirm details with the bill’s official record.

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