Buying silver in Burlington, VT
Vermont charges sales tax on silver bullion and coins as well as on jewelry: 6% state rate plus any local tax. The combined state and local sales tax rate in Burlington is about 7%.
Silver has one national spot price in US dollars: the prices on this page are the same as on the silver price in the United States page. What differs in Burlington is tax, explained below and on the Vermont page.
Sales tax on silver in Burlington
Yes. No exemption: bullion and coins are taxed at 6% plus a 1% local option tax in some towns. An exemption bill (H.711, 2026) did not advance. The state rate is 6%, and local sales taxes may add more. The combined state and local rate is about 7% here.
Full state rules: silver price and tax in Vermont.
Tax when you sell silver in Vermont
Profits on silver are generally taxed by Vermont like other investment gains, under its income tax rules. At the federal level, the IRS treats bullion and most silver 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 silver or silver jewelry to a dealer in Vermont
- License: Precious metal dealers must be certified by the Vermont Department of Public Safety (9 V.S.A. 3882). Application includes principals' details and convictions, with state and FBI background checks. Fee $200, certification lasts 2 years, renewal $200 (3883). Certification number must be displayed and put in all ads. A 'precious metal dealer' is anyone with a temporary or permanent presence in Vermont who trades with retail buyers or sellers and buys or sells $2,500 or more in 12 months.
- Hold period: 10 days. Dealers must hold purchased precious metal at least 10 days before offering it for sale or scrap, and may not take it out of Vermont during that time (3886).
- What the dealer records: For each item: entry number, amount paid, date and time, seller's name, address and phone, a same-day description with marks, brand, serial number or engraving, a digital photo or video taken at the time referencing the entry number, the seller's ID, and proof of ownership. Dealers selling $50,000 or more a year must keep records in a computerized, transmittable form. Keep at least 3 years, open to police (3885). The Department of Public Safety runs a stolen property alert system that emails dealers (3889). No routine reporting to police.
- What sellers need: Seller must be 18 or older (3887). Seller shows a government photo ID, or a government ID plus a digital photo of the seller's face, and gives proof of ownership (bill of sale, receipt or authorization) or signs an affidavit of ownership.
- Payment: For purchases of $25 or more the dealer must pay only by check, draft or money order (3888).
- Who is exempt: Outside the definition: retail trade in new precious metal, wholesale or business-to-business trade (including medical and dental uses), investment trade in bullion, commodities funds or futures, antiques (including collectible coins bought and resold in original form, but not jewelry), dealers trading under $2,500 a year, and tax-exempt charities. Coins sold above face value count as precious metal.
- Jewelers: Jewelers selling only new precious metal items are not 'engaged in the business'; buying used gold or jewelry from the public is covered.
- The law: Precious Metal Dealers, 9 V.S.A. chapter 97A (3881 to 3890), added by 2013 Acts and Resolves No. 196 (Adj. Sess.), in force 1 January 2015.
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.