Buying silver in New Orleans, LA
Louisiana does not charge sales tax on qualifying silver bullion and coins. Jewelry is taxed at the 5% state rate plus any local tax. The combined state and local sales tax rate in New Orleans is about 10%.
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 New Orleans is tax, explained below and on the Louisiana page.
Sales tax on silver in New Orleans
Not on investment bullion. Platinum, gold and silver bullion, ingots and coins are exempt from state sales tax. Numismatic coins are exempt if priced at $1,000 or less or sold at qualifying trade shows. Palladium and jewelry can be taxable, and parish taxes vary. The combined state and local rate is about 10% here.
Full state rules: silver price and tax in Louisiana.
Tax when you sell silver in Louisiana
Profits on silver are generally taxed by Louisiana 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.
Gold and silver as money in Louisiana
SB 232 (2024) reaffirms gold and silver as legal tender (largely symbolic).
Selling silver or silver jewelry to a dealer in Louisiana
- License: Louisiana licenses secondhand dealers (Title 37, Chapter 21, Part II) and transient merchants (Part III). The licensing agency and fees were not confirmed.
- Hold period: 15 days. R.S. 37:1910: transient merchants must hold used precious metals, jewelry and precious stones for 15 calendar days without selling, changing or destroying them. A hold period for fixed-location secondhand dealers was not confirmed.
- What the dealer records: R.S. 37:1910 (transient merchants): keep an English-language ledger at the time of each purchase with item description, serial numbers, maker, markings, price and time, plus the seller's name, address, age, sex, physical description and driver's license number; keep a photo, thumbprint or license number of the seller for at least one year; deliver a copy of the previous day's entries to the local police chief or sheriff before noon each day.
- What sellers need: No purchases of these items from anyone under 18 by transient merchants (not knowing the age is no defense).
- Who is exempt: R.S. 37:1910 does not apply to manufactured, registered bullion bars, coins or numismatic items. Deals between a licensed transient merchant and a licensed secondhand dealer are exempt from the seller ID rule.
- The law: La. R.S. 37:1861 and following (secondhand dealers, including payment rules in R.S. 37:1864.3, amended by Act 255 of 2019); La. R.S. 37:1910 (records of purchases of used precious metals, jewelry and precious stones by transient merchants).
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.