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CA No exemptions Last reviewed: April 2026

Rules of Gold in California

What this means for me Coin & bullion dealers 64

The six facts

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

Exempt (threshold)

Sales tax on bullion

California Revenue and Taxation Code §6355 exempts bulk sales of monetized bullion, nonmonetized gold/silver bullion, and numismatic coins above a single-transaction threshold. Threshold is $2,000 effective July 1, 2023 (raised from $1,500 which had been in place since January 1, 2009). Sales below the threshold are taxable. CDTFA Regulation 1599 implements the exemption. Threshold is auto-adjusted for inflation under RTC §6355(b)(2).

Source As of 2023-07-01 · high confidence

No

Recognized as legal tender

California has not enacted state legislation recognizing gold or silver coin or bullion as legal tender. Federal U.S. coins are legal tender by federal law; California has no state-specific specie-as-legal-tender statute. CDTFA Regulation 1599 references "coins for use solely as a medium of exchange, i.e., as legal tender" only in the context of the sales-tax exemption, not as a state legal-tender designation. No 2021–2026 legislative action found on this issue.

Source As of 2026-04-25 · medium confidence

Taxed

Capital gains on bullion

California treats capital gains as ordinary income subject to the state's progressive personal income-tax brackets. Top marginal rate is 13.3% (12.3% personal income tax + 1.0% Mental Health Services Tax surcharge on income above $1 million). No precious-metals carve-out exists in California's tax code. Federal collectibles 28% rate does not apply at the state level.

Source As of 2026-04-25 · medium confidence

No

State bullion depository

California has not enacted enabling legislation for a state-chartered bullion depository. Comprehensive search of LegiScan, FastDemocracy, and the depository-bills tracker (scry.llc) for 2021–2026 found zero California depository bills. Only private depositories operate in the state.

Source As of 2026-04-25 · medium confidence

No disclosure

State gold & silver reserves

California State Treasurer's office does not publish evidence of physical precious-metals holdings in audited financial statements or treasury reports. No bullion line item appears in published state financial disclosures.

Source As of 2026-04-25 · medium confidence

No disclosure

Pension fund holdings

CalPERS (~$500B AUM, the largest US public pension) and CalSTRS (~$340B) do not disclose physical gold or silver bullion line items in their published comprehensive annual financial reports. Standard allocations are public equities, fixed income, real estate, private equity, infrastructure, and absolute-return strategies. Any precious-metals exposure is via commodity ETFs or mining equities, not physical bullion (operator should spot-check the most recent CalPERS ACFR for confirmation).

Source As of 2026-04-25 · medium confidence

What this means for buyers

When you buy bullion in California: bullion is exempt from state sales tax above a transaction-size threshold. Below the threshold the standard sales-tax rate applies, so larger consolidated purchases capture the exemption; small accumulation purchases may be taxed.

When you sell or otherwise realize a gain: capital gains on bullion are taxed as ordinary income at California’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 California

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

Coin and Jewelry Palace

Pasadena

View dealer

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Tarzana

Operating since 2000
BBB A+
PCGS Authorized Dealer (license #1942-3850 per Chamber of Commerce listing)

View dealer

America Coin Exchange

Huntington Beach

Operating since 1979

View dealer

Americana Rare Coin

Sacramento

PCGS Authorized Dealer; NGC Authorized Dealer; CAC submitting dealer; ANA…

View dealer

Antioch Coin & Jewelry

Antioch

Operating since 1993

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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