Buying silver in Charleston, WV
West Virginia does not charge sales tax on qualifying silver bullion and coins. Jewelry is taxed at the 6% state rate plus any local tax. The combined state and local sales tax rate in Charleston 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 Charleston is tax, explained below and on the West Virginia page.
Sales tax on silver in Charleston
Not on investment bullion. Investment metal bullion and investment coins (gold, silver, platinum or palladium with market value above face) are exempt (W. Va. Code 11-15-9r, enacted 2019). Coin jewelry, artwork and commemorative medallions are taxable. The combined state and local rate is about 7% here.
Full state rules: silver price and tax in West Virginia.
Tax when you sell silver in West Virginia
Profits on silver are generally taxed by West Virginia 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 West Virginia
- License: No state license or registration is set by the precious metals and gems dealer statute. Local business licensing may apply.
- Hold period: 10 days. For 10 calendar days after purchase the buyer may not dispose of the item, take it out of the state, or change its form (61-3-51).
- What the dealer records: Permanent record book: kind, character and amount of metal or gem and any special features, date, and the seller's full name, home and mailing address and phone. Report the purchase in writing within 24 hours to the municipal police chief (inside a city) or the county sheriff (outside). Keep records at least 3 years; open to police during business hours.
- What sellers need: Seller must give sufficient proof of lawful ownership or a sworn affidavit of ownership, which the buyer keeps.
- Who is exempt: Only buying for personal, family or household use is outside the statute.
- The law: Precious metals and gem dealers; records; prohibited acts, W. Va. Code 61-3-51.
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.