Mississippi Precious Metals Tax Information

As of July 1, 2023, the state of Mississippi has no statewide sales tax regarding precious metals in effect at this time. This means that, currently, APMEX is not required to collect sales taxes on products shipped to an address located within the state of Mississippi.

MS-SB2862 is the act to amend Section 27-65-111, Mississippi Code Of 1972, exempts the sale of “coins, currency, and bullion” from the state sales tax. The law defines “bullion” as “a bar, ingot, or coin” that is:

1. Manufactured, in whole or in part, of gold, silver, platinum, or palladium;
2. That was or is used solely as a medium of exchange, security, or commodity by any state, the United States Government, or a foreign nation; and
3. Sold based on the intrinsic value of the bar, ingot, or coin as a precious metal or collectible item rather than its form or representative value as a medium of exchange.

To qualify for the exemption, “coin or currency” must be:

1. Manufactured, in whole or in part, of gold, silver, other metal, or paper;
2. That was or is used solely as a medium of exchange, security, or commodity by any state, the United States Government, or a foreign nation; and
3. Sold based on the intrinsic value of the coin or currency as a precious metal or collectible item rather than its form or representative value as a medium of exchange.

Please note: This is not an exhaustive description of Mississippi’s Sales Tax Laws or requirements. This information is intended only in relation to transactions with APMEX. If you would like to research Mississippi’s State Tax Laws in detail, please visit Mississippi’s Department of Revenue web page for further information.