Maryland’s Sales-Tax Exemption Expands

The Maryland General Assembly unanimously passed Senate Bill (SB) 309, expanding the state’s sales- and use-tax exemption for precious-metal bullion and coins. The Senate concurred with House amendments before transmitting it to Governor Wes Moore for his approval. Industry stakeholders expect the bill to be signed, becoming law once the process is complete, effective July 1, 2026.

The Bill’s Advantages

The legislation, which applies to purchases of $1,000 or higher, significantly broadens Maryland’s existing exemption by removing location-based restrictions: when originally introduced, SB 309 proposed a requirement that only transactions occurring at the Baltimore Convention Center would qualify. However, the final version removes the location-based restriction enacted in 2025. According to the National Coin and Bullion Association (NCBA), “Passage of SB 309 is widely viewed as a substantial improvement, enhancing accessibility for collectors, investors, and dealers across the state.”

NCBA states that the bill’s proponents emphasize several anticipated benefits, including:

• Improved competitiveness for Maryland-based coin shops and bullion dealers.
•  Retention of in-state transactions, reducing the incentive for consumers to purchase across state lines.
• Support for small businesses and jobs in a price-sensitive market.
• Increased economic activity, including ancillary taxable sales tied to numismatic commerce and events.

Industry leaders believe that this bill serves as a foundation for future efforts to achieve a fully modernized, comprehensive statewide exemption.