In Minnesota, the sales tax treatment of coins and currency depends on what you are selling:
| Item | Minnesota Sales Tax |
|---|---|
| Collector coins (numismatic coins), coin sets, paper money sold as collectibles | Taxable |
| Precious metal bullion bars/rounds (99.9%+ gold, silver, platinum, palladium, properly marked) | Exempt |
| Coins used as legal tender (collector/investment coins) | Generally taxable under current Minnesota guidance because the bullion exemption does not cover coins |
| Jewelry, artwork, scrap metal | Taxable (not covered by bullion exemption) |
The Minnesota state sales tax rate is 6.875%, and local sales taxes may also apply depending on the location of the sale.
There have been legislative efforts to expand the exemption to include coins and currency, including bills proposing that "bullion, coins, and currency" be exempt, but the existing Department of Revenue guidance still distinguishes taxable coins from exempt bullion.
