MS No exemptions Last reviewed: April 2026

Rules of Gold in Mississippi

What this means for me Coin & bullion dealers 4

The six facts

Statute-level rules. Each fact is sourced; click through to the primary citation.

Exempt

Sales tax on bullion

Mississippi exempts the sale of coins, currency, and bullion from state sales tax under Miss. Code §27-65-111, as amended by Senate Bill 2862 (2023 Regular Session) signed by Gov. Tate Reeves and effective July 1, 2023. "Bullion" is defined as a bar, ingot, or coin manufactured in whole or in part of gold, silver, platinum, or palladium that was or is used solely as a medium of exchange, security, or commodity by any state, the United States Government, or a foreign nation, and sold based on the intrinsic value of the metal as a precious-metal or collectible item rather than its form or face value as a medium of exchange. The exemption does not apply to jewelry or other decorative items made from precious metals.

Source As of 2023-07-01 · high confidence

Recognized as legal tender

Mississippi has not enacted a statute recognizing gold or silver coin or specie as legal tender for payment of debts. Multiple legal-tender bills have been introduced and failed: HB 1064 (2024, Rep. Timmy Ladner — defines specie and authorizes gold/silver as legal tender; prohibits taxation of specie as personal property), HB 1518 (2024, similar provisions), HB 1684 (2024, "Mississippi Bullion Depository" framework with specie + electronic/digital currency legal tender), and HB 545 (2025, recognizes US-government / state-government issued gold or silver as legal tender with voluntary-use clause). None enacted. Mississippi remains absent from the legal-tender state list as of 2026.

Source As of 2026-04-26 · medium confidence

Taxed

Capital gains on bullion

Mississippi taxes capital gains as ordinary income through its flat individual income tax: 4.40% for tax year 2025, scheduled to decrease to 4.00% for tax year 2026 per earlier Mississippi tax-reform legislation. There is no preferential rate for capital gains, no distinction between short-term and long-term gains, and no precious-metals-specific carve-out. Capital gains on physical gold and silver are taxed at the applicable flat rate.

Source As of 2025-01-01 · high confidence

State bullion depository

Mississippi has not enacted enabling legislation authorizing a state-administered bullion depository. HB 1684 (2024) proposed the "Mississippi Bullion Depository" but did not advance.

Source As of 2026-04-26 · medium confidence

State gold & silver reserves

The Mississippi State Treasurer does not hold physical gold or silver as a reserve asset.

Source As of 2026-04-26 · medium confidence

Pension fund holdings

The Public Employees' Retirement System of Mississippi (PERS) — administering retirement benefits for state, county, and municipal employees, public school teachers, and other public employees — follows a standard institutional asset allocation across public equities, fixed income, alternatives, and real estate. No precious-metals or commodities line item is disclosed.

Source As of 2024-06-30 · medium confidence

What this means for buyers

When you buy bullion in Mississippi: investment-grade bullion is exempt from state sales tax. The exemption typically covers gold, silver, platinum, and palladium meeting standard investment-grade purity. Verify the exemption applies to your specific purchase — definitions and minimum-purity thresholds vary by statute.

When you sell or otherwise realize a gain: capital gains on bullion are taxed as ordinary income at Mississippi’s state-tax rates, stacked on top of the federal 28% collectibles rate. This is a real drag on long-term holdings — consult a CPA before realizing a major position.

Mostly standard taxation; one carve-out worth knowing about. Confirm it covers your specific purchase before relying on it.

Coin & bullion dealers in Mississippi

Verified retail dealers — sourced from state corporation registries, BBB, and trade associations.

Full directory

Dixie Coins

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Silver Dollar Coin Exchange

Operating since 1980

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Sims Gold, Silver and Coin Exchange

Operating since 2010
Mississippi Numismatic Association member

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The Coin Chop Biloxi

BBB A
ANA member; principal is MS Numismatic Association board member

View dealer

About this page. Legislative data captured by the Empirical Research Orchestrator. Each fact links to its primary source. State laws change — confirm material facts with your CPA or the state Department of Revenue before acting on a transaction. Fair Market Value does not provide legal or tax advice.

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