Buying silver in Hilo, HI
Hawaii charges sales tax on silver bullion and coins as well as on jewelry: 4% state rate plus any local tax. The combined state and local sales tax rate in Hilo is about 4.5%. Hawaii's 4.5% (4% state plus the 0.5% Hawaii County surcharge) is a general excise tax charged to the seller; shops may pass on up to about 4.712%.
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 Hilo is tax, explained below and on the Hawaii page.
Sales tax on silver in Hilo
Yes. No exemption: Hawaii's 4% general excise tax applies to all bullion and coin sales. A 0.5% county surcharge brings it to 4.5% in every county, and sellers often pass on about 4.712%. The state rate is 4%, and local sales taxes may add more. The combined state and local rate is about 4.5% here.
Full state rules: silver price and tax in Hawaii.
Tax when you sell silver in Hawaii
Profits on silver are generally taxed by Hawaii 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 Hawaii
- Hold period: 30 days. Precious or semiprecious metals and gems must not be altered, melted, broken apart or disposed of for 30 calendar days in counties of 300,000 or more people (in practice the City and County of Honolulu) and 15 calendar days in smaller counties, counted from purchase or possession, whichever is later. Items must stay in the county where bought. The county police chief may cut the hold to 15 days for dealers with acceptable computerized record-keeping and transmittal. A 2021 bill would let automated kiosk operators hold items at another location for 30 days.
- What the dealer records: The chapter refers to records the county police may inspect at once during business hours; the their contents were not confirmed.
- The law: Hawaii Revised Statutes Chapter 486M, Secondhand Dealers (hold period in HRS 486M-4).
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.