On June 30, 2025, Florida Governor Ron DeSantis signed House Bill 7031 into law—an ambitious tax reform package that includes a game-changing provision for precious metals investors. Effective August 1, 2025, all purchases of gold, silver, and platinum bullion in Florida will be exempt from sales tax, regardless of the amount or quantity purchased. This new law not only eliminates the previous $500 minimum threshold for exemption but also positions Florida as one of the most investor-friendly states in the U.S. when it comes to tangible wealth preservation.
This landmark reform comes at a time of growing economic uncertainty, rising inflation, and an increased interest in physical assets as a hedge against market volatility. The repeal of sales tax on bullion purchases—whether it’s a single gold coin, a stack of silver rounds, or a kilo bar of platinum—makes precious metals more accessible to all Floridians and gives the state’s investors a stronger reason to diversify with hard assets.
Florida’s New Tax Policy: What’s in the Law?
HB 7031 is a sweeping tax relief bill that touches on several areas of Florida’s economy, but one of the standout provisions is the elimination of all state sales tax on gold, silver, and platinum bullion. Previously, Florida only waived sales tax on bullion purchases over $500—a policy that inadvertently penalized smaller investors or those making incremental acquisitions. That restriction is now gone.
Under the new law, all qualifying precious metals bullion—defined as coins, bars, or rounds with purity standards that meet industry benchmarks—will be sales tax exempt at the point of sale. This includes .999+ silver bars, .995+ gold bullion, and platinum coins and bars of investment grade. Numismatic coins (those valued above their metal content due to rarity or condition) are typically excluded, but for bullion investors, the change is dramatic.
A Victory for Everyday Investors and Collectors
For years, advocates of sound money and financial sovereignty have argued that taxing bullion is counterproductive. Investors seeking to preserve wealth with hard assets shouldn’t be penalized at the time of purchase—especially when other investment vehicles like stocks, bonds, mutual funds, and even real estate transactions often carry no such upfront tax burden. Florida’s move to eliminate the bullion sales tax reflects a growing acknowledgment that precious metals are not merely collectibles—they are long-term financial instruments.
By removing this tax, Florida not only lowers the barrier to entry for new investors but also supports its existing base of seasoned stackers and collectors. For those buying just one gold coin at a time, the tax savings add up fast. For buyers building six-figure portfolios, the repeal represents a meaningful improvement in overall purchasing power.
Economic Boost for Local Dealers and National Buyers
Beyond individual investors, the repeal is expected to benefit Florida-based coin shops, bullion dealers, and precious metals businesses. With the state’s favorable tax laws, local dealers will have a competitive advantage over out-of-state retailers, particularly in neighboring regions where sales tax on bullion is still in place. This shift could attract more in-person buyers, increase inventory turnover, and bring more business to local communities.
Additionally, out-of-state investors—especially from states with high tax burdens—may begin traveling to Florida or purchasing from Florida-based dealers online to take advantage of the tax savings. As such, HB 7031 positions Florida as a new hub for precious metals commerce, joining states like Texas, New Hampshire, and Alaska in creating more favorable conditions for gold and silver ownership.
Florida Joins the National Movement Toward Sound Money
Florida’s decision is part of a larger national trend toward recognizing and protecting precious metals as legitimate financial tools. Over the last few years, multiple states—including Tennessee, Mississippi, Arkansas, Kentucky, and Wisconsin—have passed legislation removing sales tax on bullion purchases. Some, like Utah and Texas, have even gone a step further, launching public depositories or recognizing gold and silver as legal tender.
In tandem with Florida’s HB 999, which allows qualifying gold and silver coins to be used to pay public debts and taxes, the sales tax repeal under HB 7031 adds another layer of legitimacy to gold and silver’s role in the financial system. Combined, these bills move Florida closer to a "sound money" framework, where citizens can opt out of inflation-prone fiat systems and preserve wealth with physical assets.
What Investors Should Know Before August 1, 2025
If you're already a precious metals investor—or you're just beginning to explore your options—this new law provides a timely opportunity. Beginning August 1, 2025, any purchase of bullion will be free of sales tax, whether you're buying online, through a dealer, or at a coin show within Florida. It’s worth noting that:
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This applies to investment-grade bullion only, not collectible coins with numismatic premiums.
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Platinum—often overlooked in the average investor’s portfolio—is also included in the tax exemption.
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If you’re a Florida resident considering a portfolio allocation into metals, now is the time to plan with your advisor or dealer.
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Investors in neighboring states may find it worthwhile to buy bullion through Florida-based businesses for maximum savings.
Final Thoughts: A Bullish Sign for Bullion
Florida’s repeal of the sales tax on gold, silver, and platinum bullion is more than a policy change—it’s a signal. In an era where inflation, currency devaluation, and economic instability are real concerns, the Sunshine State has taken a clear step in favor of individual financial freedom and wealth preservation.
For investors and collectors alike, this move removes one more barrier to building real, tangible security. And for Florida itself, it’s another notch in the belt as a leader in economic innovation, tax reform, and financial independence.
Whether you're stacking silver, diversifying your IRA with gold, or exploring platinum for the first time, starting August 1, 2025, you'll be doing it tax-free—and that's a victory worth celebrating.
