Protecting your numismatic sales tax exemption

There are only a small number of states that don't have a sales tax exemption for coins and bullion on their books, but the number grew with the action by the Maryland state

A small number of states still have sales tax exemption for coins and bullion, but that number is quickly diminishing. The good news is that the rapid action of Whitman Expos and Baltimore Convention Center lobbyists will keep the exemption in place for events at that facility.

This could be a very big step in protecting against a total loss of business. It could also be the place to start to get the exemption back on the books later.

The newsy item in the April 28, 2025 issue of Coin World regarding the Maryland state legislature's action on a state sales tax exemption for coins and bullion began with this sentence: "Bad news arrived this week with news that the Maryland state legislature voted to eliminate the sales tax exemption for coins and bullion."

It is still pending the governor’s signature, but a veto doesn’t seem to be the place to bet the farm. Assuming it takes effect July 1, it could have far-reaching impact in a lot of places.

This is happening in Maryland, but it could happen to you. There is no guarantee that the exemption you’re currently enjoying will last forever. Elections come, officeholders change, budgetary mindsets get altered and government officials start looking for places where they imagine they can either stop losing money or start making more.

Just as lawmakers rally support among their peers for their viewpoints, so too can the numismatic community. That’s why the National Coin & Bullion Association has what it calls the “Concerned Collectors Coalition.” The membership tier is specifically created for those who do not make their primary living in numismatics. (If you do, there are other membership levels for you.) It costs absolutely nothing to be a member of the Concerned Collectors Coalition, and you even get a certificate suitable for framing. (In the interest of full disclosure, I am a member, but I haven’t bought a frame for my certificate). This membership at the grassroots level helps keep the interest of the collector on a par with the interests of the businesses. We all share the goal of moving numismatics forward and increasing the benefit of the experience.

It’s incumbent on each of us to do our respective part and not expect others to do what we can do. The NCBA has to play offense, helping get the positive messages of the exemption to places that haven’t grasped the message, and defense, trying to stop actions like repeals. Success comes through consistent effort. Every little bit helps. It may be too late for Maryland (for now), but it’s never too late to make sure it doesn’t happen to you. The NCBA can help, but we all need to do our part to assist in the effort.

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