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Maine (ME) applies sales tax to precious metals purchases, making it one of the less tax-efficient states for investors acquiring physical bullion. Investment-grade gold, silver, platinum, and palladium products are subject to the statewide sales tax rate, increasing the total acquisition cost.
Maine is among a small and shrinking number of states that have not enacted a sales tax exemption for precious metals. Multiple legislative efforts to introduce an exemption in Maine have been introduced but have not been enacted, including LD 372.
Federal taxation rules also apply when precious metals are sold at a profit, and Maine taxes capital gains as part of state income tax.
Precious metals such as gold and silver are classified as collectibles under U.S. federal tax law. Profits realized when selling investment metals may therefore be subject to federal capital gains tax, with a maximum rate of 28%, depending on income level and holding period.
Capital gains tax generally applies when metals are sold for fiat currency or exchanged for goods and services. No tax is due simply for purchasing or holding bullion.
Maine taxes capital gains as ordinary income at the state level. In 2025, Maine applies three progressive tax rates: 5.80%, 6.75%, and 7.15%, with the top rate applying to taxable income above approximately $63,450 for single filers. Maine does not distinguish between short-term and long-term capital gains — all gains are taxed at the same progressive rates as ordinary income regardless of holding period.
Maine applies its statewide sales tax to all precious metals purchases, including gold, silver, platinum, and palladium coins, bars, and rounds. There is currently no exemption for investment-grade bullion in Maine.
The statewide sales tax rate is 5.5%, and unlike many other states, Maine does not apply additional local sales taxes, resulting in a uniform rate across the state. This 5.5% applies to all bullion purchases regardless of quantity, purity, or transaction size.
Jewelry, collectible coins, and decorative precious metal items are also taxable under the same standard sales tax rules.
Investors purchasing online should note that sales tax is based on the delivery address. Purchasing from a dealer and shipping to a state with a sales tax exemption would avoid Maine's 5.5% rate, though investors should consult a tax advisor regarding applicable use tax obligations.
Maine is one of the least tax-efficient states for precious metals investors. It applies a 5.5% sales tax on all bullion purchases with no exemption, and capital gains from selling precious metals are subject to both federal taxation and Maine's progressive state income tax of up to 7.15% — with no preferential rate for long-term gains.
Maine's refusal to adopt an exemption puts it at odds with the vast majority of U.S. states, which have recognized investment-grade bullion as a financial instrument not subject to sales tax. Investors may benefit from evaluating their purchasing strategies — including online purchases shipped to states with exemptions — to reduce the overall tax burden.
Maine, United States residents are solely responsible for verifying applicable tax laws before purchasing or selling precious metals. GoldBroker is not liable for any tax obligations arising from transactions.