ND No exemptions Last reviewed: April 2026

Rules of Gold in North Dakota

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.

Bullion exempt

Sales tax on bullion

North Dakota exempts gross receipts from the sale of money (including all legal tender coins and currency) and from the sale of precious metal bullion refined to a purity of not less than 0.999 (999 parts per 1,000) that is in such form or condition that its value depends upon its precious metal content and not its form, under NDCC §57-39.2-04(31). The 0.999 purity threshold qualifies most modern investment-grade bullion (American Gold Eagles at 0.9167 do not meet the threshold but qualify under the legal-tender-coin prong; American Gold Buffalos at 0.9999 qualify; American Silver Eagles at 0.999 qualify; Krugerrands at 0.9167 do not qualify under either prong since not US legal tender). The exemption explicitly excludes precious metals with purity below 0.999 unless they qualify as legal tender coins, and excludes medallions, rounds, or other items not classified as legal tender. North Dakota standard sales tax is 5% state + local up to ~3.5% additional (combined max ~8.5%); bullion transactions meeting the §57-39.2-04(31) requirements are 0%-rated.

Source As of 2026-04-26 · high confidence

Recognized as legal tender

North Dakota has not enacted a statute recognizing gold or silver coin or specie as legal tender for public or private debts. HB 1441 (2025) "Specie Legal Tender Act", sponsored by Rep. Nathan Toman with seven cosponsors, would have created a new chapter of NDCC Title 51 defining "specie legal tender" as "gold or silver specie issued by the United States or any other form of gold or silver specie," made it legal tender in ND, and amended NDCC §41-01-09 to define and exclude US central bank digital currency. HB 1441 passed the House 61-30 on February 7, 2025 but failed in the Senate 18-27 on March 10, 2025, with two absent or excused. The 2025 push through both the legal-tender bill (HB 1441) and the state-treasury-investment-mandate bill (HB 1183, see Reserves field) failed. North Dakota is therefore absent from the legal-tender state list (UT/WY/OK/AR/ID/LA/TN/TX plus pending FL/NH).

Source As of 2026-04-26 · high confidence

Capital gains on bullion

North Dakota enacted HB 1379 (2025) in the 2025 legislative session, allowing both individual and corporate taxpayers to reduce their state taxable income by the amount of any capital gain on gold and silver legal tender coins and bullion (refined to ≥0.999 purity per the bullion definition shared with §57-39.2-04(31)) reported to the IRS. The exemption is effective for taxable years beginning after December 31, 2024 (i.e. tax year 2025 forward). HB 1379 passed the House 82-10 on February 6, 2025 and advanced through both chambers. ND joins the precious-metals-cap-gains-exempt club alongside AZ/UT/WY/OK/AR/ID/IA/NE/MS/MO (plus pending NC HB 836). Background income-tax rates (still applicable to non-bullion capital gains): ND uses a 3-bracket schedule with rates of 0.00%, 1.95%, and 2.50% for tax year 2025 — among the lowest top rates of any state with an income tax. The 2.50% top rate kicks in at moderate income levels with a $15,000 standard deduction (single) / $30,000 (MFJ). ND also offers a general 40% long-term capital-gains exclusion for assets held >3 years, but this is now redundant with the precious-metals-specific exemption for bullion gains (HB 1379 provides 100% subtraction).

Source As of 2025-01-01 · high confidence

State bullion depository

North Dakota has not enacted enabling legislation for a state-administered bullion depository. The State Treasurer (Thomas Beadle, second term) does not operate, license, or otherwise authorize a public bullion depository facility. The 2025 sound-money push focused on legal-tender (HB 1441), capital-gains exemption (HB 1379), and state-treasury investment mandate (HB 1183) — no depository bill was introduced in the 69th Legislative Assembly.

Source As of 2026-04-26 · medium confidence

State gold & silver reserves

The North Dakota State Treasurer does not hold physical gold or silver as a reserve asset. HB 1183 (2025), sponsored by Rep. Daniel Johnston (R-Kathryn), would have required the State Treasurer to invest at least 1% of all funds deposited in the state treasury in gold and silver bullion. HB 1183 passed the House but failed in the Senate 34-13 on March 10, 2025, killing the mandate. Had it passed, ND would have become the second US state (after New Hampshire's HB 302 of 2025) to statutorily authorize state-treasury PM holdings — and arguably the first to mandate (rather than authorize) such holdings. As of capture, ND has neither authorization nor mandate.

Source As of 2025-03-10 · high confidence

Pension fund holdings

North Dakota's public pension landscape consists of the North Dakota Public Employees Retirement System (NDPERS, ~$3.5B AUM) and the Teachers' Fund for Retirement (TFFR, ~$3B AUM), both administered by the Retirement and Investment Office (RIO). The State Investment Board oversees investment policy. Neither system discloses a physical-precious-metals or commodities allocation in publicly-available summary documents. Standard institutional asset classes only (public equities, fixed income, real estate, alternatives). North Dakota also operates the Legacy Fund (~$11B+ AUM as of FY24) — an oil-and-gas-revenue sovereign wealth fund — which similarly does not disclose a physical-PM sleeve.

Source As of 2024-06-30 · medium confidence

What this means for buyers

When you buy bullion in North Dakota: 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.

A mixed picture — some friction on entry or exit, but a real exemption to plan around. Read the fact cards above and consider how each rule applies to your transaction size.

Coin & bullion dealers in North Dakota

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

Full directory

Bismarck Gold and Silver Exchange

PCGS, NGC

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Gold and Silver Exchange (Grand Forks)

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Northern Plains Coins

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Battalion Metals

Operating since 2001
BBB A

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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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