Florida does not impose a sales tax on the purchase of gold, silver, platinum, or palladium bullion that exceeds $500. In this context, bullion refers to precious metals in a bulk form regularly traded on commodity markets, which can be in the form of bars or coins.
The $500 threshold is important. If a transaction is less than $500, then normal sales tax may apply. For transactions equal to or exceeding $500, the purchase is tax-exempt. This tax exemption also applies to certain numismatic (collectible) coins and currency.
As always, laws and regulations can change, and the specifics can sometimes be complex. For the most current and detailed information, it’s a good idea to consult a legal or tax professional or the Department of Revenue for the state of Florida.
