In Massachusetts, the general sales tax rate is 6.25%, but coins and currency have a special exemption.
Here's how it works:
| Item | Sales Tax |
|---|---|
| Rare coins (numismatic) under $1,000 | 6.25% |
| Rare coins (numismatic) $1,000 or more (single transaction) | Exempt |
| Gold or silver bullion or bullion coins under $1,000 | 6.25% |
| Gold or silver bullion or bullion coins $1,000 or more (single transaction) | Exempt |
| Paper currency (collector notes) | Generally treated the same as numismatic collectibles—taxable unless another exemption applies. The specific $1,000 exemption in Massachusetts law applies to rare coins of numismatic value and qualifying precious-metal bullion, not ordinary collectible paper currency. |
Key points
- The $1,000 threshold applies to the entire transaction, not to each individual item.
- The exemption covers:
- Rare coins of numismatic value.
- Gold or silver bullion or coins.
- Gold or silver legal tender traded primarily for its precious metal value
