When it comes to selling bullion in Minnesota, bullion sales are exempt from sales tax, but this exemption does not currently include coins, jewelry, works of art, or scrap metal. Minnesota does have some fraudulent history when it comes to selling bullion coins in the past, which has resulted in laws requiring authorized bullion dealers to go the extra mile when it comes to being recognized as legal bullion dealers.
There was a measure introduced in 2019 and another in 2023, which sought to amend the current law to include coins, but both efforts did not pass. So, if you wish to be exempt from paying sales tax during the sale of precious metals in Minnesota, be sure to seek out bullion bars and rounds.
