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Bill

SB 309

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

2026 Regular Session Introduced by Jack Bailey and 5 co-sponsors

SB 309 exempts precious metal bullion and coins from Maryland sales tax, reducing state revenue while lowering purchase costs for investors.

Approved by the Governor - Chapter 730
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Bill Summary · SB 309

Legislative bill overview

SB 309 would exempt precious metal bullion and coins from Maryland's sales and use tax. Currently, these items are subject to the standard state sales tax rate when purchased. The bill aims to remove this tax burden specifically on bullion and numismatic coins.

Why is this important

This exemption could affect state revenue and influence investment behavior in precious metals. For individual consumers and investors, it could reduce the cost of purchasing gold, silver, platinum, and other precious metal investments. The fiscal impact depends on trading volumes and whether the exemption encourages more in-state purchases versus alternatives like out-of-state buying.

Potential points of contention

  • Revenue loss: Removing sales tax on bullion sales will decrease state general fund revenue, requiring either budget cuts or identification of alternative funding sources
  • Definitional clarity: Determining what qualifies as "precious metal bullion or coins" versus collectibles or jewelry could create ambiguity and enforcement challenges
  • Equity concerns: The exemption primarily benefits investors and wealthier individuals who purchase precious metals, while most Marylanders pay sales tax on everyday purchases

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

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