Buying gold in Philadelphia, PA
Pennsylvania does not charge sales tax on qualifying gold bullion and coins. Jewelry is taxed at the 6% state rate plus any local tax. The combined state and local sales tax rate in Philadelphia is about 8%.
Gold has one national spot price in US dollars: the prices on this page are the same as on the gold price in the United States page. What differs in Philadelphia is tax, explained below and on the Pennsylvania page.
Sales tax on gold in Philadelphia
Not on investment bullion. Investment metal bullion and investment coins (gold, silver, platinum or palladium with market value above face) are exempt under Tax Reform Code 204(65). Accessories, jewelry and copper items are taxed at 6% (7% in Allegheny County, 8% in Philadelphia). The combined state and local rate is about 8% here.
Full state rules: gold price and tax in Pennsylvania.
Tax when you sell gold in Pennsylvania
Profits on gold are generally taxed by Pennsylvania like other investment gains, under its income tax rules. At the federal level, the IRS treats bullion and most gold coins as collectibles: long-term gains (assets held more than a year) are taxed at your ordinary rate, capped at 28%, and short-term gains as ordinary income.
Selling gold or gold jewelry to a dealer in Pennsylvania
- License: Dealers in precious metals need an annual license from the county sheriff of each county where they buy; fee $50, paid to the county treasurer. Applicants disclose identity, past addresses, criminal charges or convictions and past license actions. Towns may also license secondhand dealers by ordinance (for example the Borough of Millvale).
- Hold period: 5 days. Each item must be held unaltered for 5 full working days after the record is filed with the district attorney (37 Pa. Code ch. 501). Local ordinances can be longer: Millvale requires 30 days for jewelry, coins and old gold, silver or platinum.
- What the dealer records: A form for every purchase: seller's name, address, age, sex, race and driver's license number; how identity was checked (preferably government photo ID plus one more ID); seller's signature; item description with names, initials, serial numbers or marks; date and time. A copy goes to the county district attorney (or local police if the DA allows) by close of the next working day. Dealers keep records 1 year; the DA or police keep them 24 months.
- What sellers need: Seller signs and shows ID. Purchases from minors need written permission from a parent or guardian, kept with the record.
- Who is exempt: Financial institutions, trade-ins or allowances, jewelry manufacturers and people buying for personal use. Coins, ingots, bullion, photographic film and items under 5% precious metal by weight are excluded.
- Jewelers: Dealers must post prices per troy ounce for 24, 18, 14 and 10 karat gold, pure and sterling silver, and platinum, and use scales both parties can read (37 Pa. Code ch. 501).
- The law: Act of 24 February 1984 (P.L. 92, No. 17), 73 P.S. 1931 to 1942 (precious metal dealers), with regulations at 37 Pa. Code chapter 501.
Dealers report a customer's sale to the IRS on Form 1099-B only for certain forms and quantities, such as 1-kilo gold bars, 1,000 ounces of silver bars or 25 or more Krugerrands or Maple Leafs; American Eagles and smaller lots are generally not reported. Any business that receives more than $10,000 in cash in one transaction or related transactions files IRS Form 8300. Bring a photo ID when you sell.
Tax and duty information last reviewed October 2026. Rules change — confirm with your dealer or tax authority before a large purchase.