What is the sales tax on silver jewelry in Indiana?

Jewelry is taxed like other goods: the 7% state rate plus any local sales tax, on the full price including the making charge.

Do you pay tax when you sell silver in Indiana?

Sales tax does not apply when you sell. A profit is taxable income: federally as a collectible (long-term gains capped at 28%), and under Indiana's income tax rules. Selling at a loss creates no tax.

Is the silver price different in Indiana?

No. Silver trades at one national (and world) spot price in US dollars. What differs between states is tax, and between dealers the premium over spot.

Silver Price in Indiana Today: Price per Ounce & Sales Tax on Silver

Q: Is there sales tax on silver in Indiana?

Not on investment bullion. Only IRA-eligible items are exempt: American Eagles and other coins permitted under IRC 408(m), all U.S. legal tender, and bullion meeting minimum fineness (gold 99.5%, silver 99.9%, platinum and palladium 99.95%). Non-IRA collectible coins such as Krugerrands, lower-purity bullion and foreign currency are taxed at 7%. Jewelry is taxed like other goods at the 7% state rate plus any local tax.

Date	Silver per ounce / 1 ounce	Silver per gram / 1 gram	Change
Oct 23Fri	$53.95	$1.73	−1.49%
Oct 22Thu	$54.76	$1.76	−4.63%
Oct 21Wed	$57.42	$1.85	−0.49%
Oct 20Tue	$57.71	$1.86	+1.28%
Oct 19Mon	$56.97	$1.83	−0.04%
Oct 16Fri	$57.00	$1.83	+0.28%
Oct 15Thu	$56.84	$1.83	+2.32%
Oct 14Wed	$55.55	$1.79	−6.10%
Oct 13Tue	$59.16	$1.90	−1.63%
Oct 12Mon	$60.14	$1.93	−0.87%

Date

Silver per ounce / 1 ounce

Silver per gram / 1 gram

Change

Oct 23Fri

$53.95

$1.73

−1.49%

Oct 22Thu

$54.76

$1.76

−4.63%

Oct 21Wed

$57.42

$1.85

−0.49%

Oct 20Tue

$57.71

$1.86

+1.28%

Oct 19Mon

$56.97

$1.83

−0.04%

Oct 16Fri

$57.00

$1.83

+0.28%

Oct 15Thu

$56.84

$1.83

+2.32%

Oct 14Wed

$55.55

$1.79

−6.10%

Oct 13Tue

$59.16

$1.90

−1.63%

Oct 12Mon

$60.14

$1.93

−0.87%

Purity	1 gram	1 pennyweight (dwt)	1 ounce	10 ounces	1 kilo	100 ounces
Fine silver999 fine	$1.73	$2.70	$53.94	$539.37	$1,734.11	$5,393.70
Sterling silver925 fine	$1.60	$2.49	$49.89	$498.92	$1,604.06	$4,989.17
90% coin silver (pre-1965)900 fine	$1.56	$2.43	$48.54	$485.43	$1,560.70	$4,854.33
40% silver (1965–70 halves)400 fine	$0.69	$1.08	$21.57	$215.75	$693.65	$2,157.48
35% silver (1942–45 nickels)350 fine	$0.61	$0.94	$18.88	$188.78	$606.94	$1,887.80

Purity

1 gram

1 pennyweight (dwt)

1 ounce

10 ounces

1 kilo

100 ounces

Fine silver999 fine

$1.73

$2.70

$53.94

$539.37

$1,734.11

$5,393.70

Sterling silver925 fine

$1.60

$2.49

$49.89

$498.92

$1,604.06

$4,989.17

90% coin silver (pre-1965)900 fine

$1.56

$2.43

$48.54

$485.43

$1,560.70

$4,854.33

40% silver (1965–70 halves)400 fine

$0.69

$1.08

$21.57

$215.75

$693.65

$2,157.48

35% silver (1942–45 nickels)350 fine

$0.61

$0.94

$18.88

$188.78

$606.94

$1,887.80

Coin	Pure silver	Melt value
American Silver Eagle 1 oz (999)	31.103 g	$53.94
$1 face value in 90% dimes, quarters or halves	22.500 g	$39.02
Morgan or Peace dollar (26.73 g, 90%)	24.057 g	$41.72
Pre-1965 half dollar (12.5 g, 90%)	11.250 g	$19.51
Pre-1965 quarter (6.25 g, 90%)	5.625 g	$9.75
Pre-1965 dime (2.5 g, 90%)	2.250 g	$3.90
Kennedy half 1965–1970 (11.5 g, 40%)	4.600 g	$7.98
War nickel 1942–1945 (5 g, 35%)	1.750 g	$3.03
Silver bar 10 oz (999)	311.035 g	$539.37
Silver bar 100 oz (999)	3,110.348 g	$5,393.70
Silver bar 1 kilo (999)	1,000.000 g	$1,734.11

Coin

Pure silver

Melt value

American Silver Eagle 1 oz (999)

31.103 g

$53.94

$1 face value in 90% dimes, quarters or halves

22.500 g

$39.02

Morgan or Peace dollar (26.73 g, 90%)

24.057 g

$41.72

Pre-1965 half dollar (12.5 g, 90%)

11.250 g

$19.51

Pre-1965 quarter (6.25 g, 90%)

5.625 g

$9.75

Pre-1965 dime (2.5 g, 90%)

2.250 g

$3.90

Kennedy half 1965–1970 (11.5 g, 40%)

4.600 g

$7.98

War nickel 1942–1945 (5 g, 35%)

1.750 g

$3.03

Silver bar 10 oz (999)

311.035 g

$539.37

Silver bar 100 oz (999)

3,110.348 g

$5,393.70

Silver bar 1 kilo (999)

1,000.000 g

$1,734.11

Buying silver in Indiana

Indiana does not charge sales tax on qualifying silver bullion and coins. Jewelry is taxed at the 7% state rate plus any local tax.

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 Indiana is tax, explained below.

Sales tax on silver in Indiana

Only IRA-eligible items are exempt: American Eagles and other coins permitted under IRC 408(m), all U.S. legal tender, and bullion meeting minimum fineness (gold 99.5%, silver 99.9%, platinum and palladium 99.95%). Non-IRA collectible coins such as Krugerrands, lower-purity bullion and foreign currency are taxed at 7%. Jewelry is taxed at the 7% state rate plus any local sales tax.

Tax when you sell silver in Indiana

Profits on silver are generally taxed by Indiana 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.

Buying and selling rules in Indiana

Anyone in the business of selling coins or bullion must register as a retail merchant, even if the items are exempt. 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.

What you pay over spot

Dealers sell Silver Eagles, bars and rounds at a premium over the spot price shown here, which covers minting, shipping and the dealer's margin; small coins carry the biggest premiums. Jewelry adds design and labour. When you sell, dealers usually pay a little under spot for common bullion and the melt value, less a margin, for scrap.

Tax and duty information last reviewed October 2026. Rules change — confirm with your dealer or tax authority before a large purchase.

Silver Price in Indiana Today

Silver rate today · USD

Silver price in USD · per ounce

Silver Rate in Indiana: Last 10 Days

Silver Rate in Indiana by Purity and Weight

Coin and bar melt values

Silver Performance in USD

Buying silver in Indiana

Sales tax on silver in Indiana

Tax when you sell silver in Indiana

Buying and selling rules in Indiana

What you pay over spot

Silver value calculator · USD

How we calculate

Silver Price in Indiana: FAQ

Silver Price in Other States

Silver Rate in Other Cities

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