We put safety at the core of our business
Vermont (VT) applies its 6% sales tax to all purchases of precious metals, with no exemption for investment-grade bullion or coins. Vermont is one of a small number of states that continues to fully tax precious metals purchases. Capital gains from the sale of precious metals are also subject to Vermont's progressive income tax, though partial exclusions may reduce the tax burden in some cases.
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.
Vermont taxes capital gains as ordinary income using the same progressive brackets that apply to wages and other income. For 2025, Vermont's income tax rates range from 0% to 8.75%, with rates of 3.35%, 6.60%, 7.60%, and 8.75% applying progressively as income rises. Vermont does not offer a preferential rate for long-term capital gains, but two partial exclusions may reduce taxable gains:
A flat exclusion of up to $5,000 on net adjusted capital gains is available to all taxpayers.
A 40% exclusion is available for net adjusted capital gains on qualifying assets held at least three years — however, this exclusion does not apply to publicly traded stocks, bonds, residential real estate, or depreciable personal property. Precious metals (as personal property sold at a gain) may or may not qualify depending on their classification; investors should consult a tax professional.
Vermont applies its 6% statewide sales tax to all purchases of precious metals, including investment-grade gold, silver, platinum, and palladium bars and coins. Vermont provides no exemption for precious metals, making it one of a small number of states where bullion purchases are fully taxable regardless of product type, quantity, or purity.
A number of Vermont cities collect an additional 1% local option sales tax on top of the state rate, potentially bringing the total to 7% depending on the municipality of purchase or delivery.
All precious metals products — including investment bars, bullion coins, numismatic coins, jewelry, and accessories — are subject to the applicable sales tax rate.
Vermont is one of the least favorable states for precious metals investors. The 6% sales tax (up to 7% in some cities) applies to all bullion purchases without exception, increasing acquisition costs compared to the majority of U.S. states that offer some form of exemption. On the capital gains side, Vermont's progressive rates reaching 8.75% add further tax exposure when metals are sold at a profit, with only modest partial exclusions available.
Investors in Vermont may wish to consider purchasing precious metals from out-of-state dealers who ship directly — the sales tax would then depend on the dealer's nexus obligations — or from dealers in states with broad exemptions. Federal capital gains tax obligations apply regardless of where metals are purchased.