As of August 1, 2025, Florida no longer requires a $500 minimum for sales-tax exemption on purchases of gold, silver, and platinum bullion. The change broadens access to tax-free investing for collectors, small-scale buyers, and independent dealers across the state.
Previously, Florida law exempted bullion purchases from sales tax only if the transaction exceeded $500. Smaller purchases — such as a single bullion coin, silver round or fractional gold bar — were still subject to tax. The new law removes that $500 threshold entirely, allowing buyers to make smaller purchases of bullion and qualifying coins without being penalized by sales tax.
The revised exemption applies to any qualifying sale made on or after August 1, even if the agreement was reached beforehand. The change represents a significant shift for those who invest incrementally or make recurring purchases.
The measure was enacted through House Bill 7031, which passed with bipartisan support and was signed into law by Governor Ron DeSantis on June 30. The bill updates the state’s tax code to modernize exemptions and eliminate provisions that favored high-dollar transactions. Florida now joins several other states offering full sales‑tax relief on precious metals purchases regardless of amount.
One key detail for buyers: palladium bullion is not included in the updated exemption. All palladium purchases remain subject to state sales tax unless they qualify under a separate statutory exemption — such as being part of an official U.S. legal-tender coin issue. Buyers are advised to review product details and state definitions to determine whether a specific palladium item qualifies.
It’s also worth noting that not every item qualifies for the expanded exemption. Coins that fall outside the state’s definition of bullion under Florida Administrative Code Rule 12A‑1.0371 may still be taxable, such as world and ancient coins.
With the removal of the $500 threshold, Florida has expanded access to the bullion and numismatic markets, providing more equitable tax treatment for new investors, seasoned buyers, and small businesses alike.
