ID No exemptions Last reviewed: April 2026

Rules of Gold in Idaho

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

Idaho Code §63-3622V exempts the sale of precious metal bullion and monetized bullion from state sales tax. "Precious metal bullion" is defined as elementary precious metal (gold, silver, platinum, rhodium, chromium) processed through smelting or refining whose value depends on metal content rather than form. "Monetized bullion" is a coin used as a medium of exchange under any sovereign's laws. No purchase threshold applies. The exemption does not extend to coins or money sold for jewelry / works of art, or to coins valued by form rather than metal content.

Source As of 2026-04-25 · high confidence

Yes

Recognized as legal tender

Idaho recognizes gold and silver coin and specie minted domestically as legal tender under Idaho Code §67-9903, enacted by HB 177 (the "Idaho Constitutional Money Act of 2025"). Signed by Gov. Brad Little on March 19, 2025; effective July 1, 2025. House vote 66-3-1; Senate vote 35-0. The statute provides legal tender recognition "to the full extent allowed by clause 1, section 10, article I" of the US Constitution; no person may be compelled to tender or accept gold or silver unless agreed by the parties. Idaho is the seventh state to enact such recognition.

Source As of 2025-07-01 · high confidence

Capital gains on bullion

Idaho excludes net capital gains and losses on the sale of precious metal bullion or monetized bullion (as defined under Idaho Code §63-3622V) from federal AGI when computing Idaho taxable income. The exemption was enacted via HB 40 (2025), signed by Gov. Brad Little on March 6, 2025, with an emergency clause making provisions effective January 1, 2025. HB 40 was a bundled tax-cut package that also lowered Idaho's individual and corporate income tax rate from 5.695% to 5.3% and expanded the military pension exemption. Idaho is the fourteenth state to end capital gains taxes on gold and silver.

Source As of 2025-01-01 · high confidence

State bullion depository

Idaho has not enacted enabling legislation for a state-administered or state-chartered bullion depository (in the Texas / Tennessee model). A series of bills authorizing the State Treasurer to invest a portion of state idle funds in physical gold and silver — HB 7 (2021), HB 522 (2022), HB 180 (2023), and SB 1314 (2024) — have either died in committee or, in the case of SB 1314, passed both chambers only to be vetoed by Gov. Brad Little on April 5, 2024. SB 1338 was reintroduced in a subsequent session; status flagged for operator review.

Source As of 2026-04-25 · medium confidence

State gold & silver reserves

The Idaho State Treasurer does not hold physical gold or silver as a reserve asset. Without statutory authorization (which the legislature has attempted but not enacted — most recently SB 1314 in 2024, vetoed), the Treasurer has no statutory power to hold physical precious metals on the state's balance sheet. State financial statements do not disclose any physical bullion line item.

Source As of 2026-04-25 · medium confidence

Pension fund holdings

The Public Employee Retirement System of Idaho (PERSI) does not hold physical gold or silver as a portfolio asset. PERSI's Base Plan Investment Policy permits commodities and precious metals only as tactical instruments occasionally used by active managers attempting to outperform their broader mandates — not as a strategic asset class. The 2024 Annual Comprehensive Financial Report investment section does not include a physical bullion or precious-metals line item.

Source As of 2024-06-30 · medium confidence

What this means for buyers

When you buy bullion in Idaho: 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 from bullion are explicitly excluded from state taxable income. Federal capital-gains tax still applies — typically the 28% collectibles rate for physical bullion held more than a year — but you avoid the state-level layer. Meaningful exit-tax advantage.

On state legal tender: Idaho recognizes gold and silver coin as legal tender at the state level. Practically, specie can be used to settle private debts in-state and gains from specie transactions may be excluded from state taxation under related provisions. It does not obligate retailers to accept bullion in payment.

A favorable environment for collectors and investors. Stage transactions to capture the available exemptions and document basis carefully.

Coin & bullion dealers in Idaho

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

Full directory

Idaho Gold & Silver

Boise

Operating since 1979

View dealer

Infinity Coins

NGC, PCGS (certified-coin inventory)

View dealer

Meridian Coins

Operating since 2008
NGC and PCGS (graded coins)

View dealer

Rose Hill Coins & Jewelry

Boise

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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