Buying silver in San Jose, CA
California exempts some silver bullion and coin purchases from sales tax, but not all. Jewelry is taxed at the 7.25% state rate plus any local tax. The combined state and local sales tax rate in San Jose 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 San Jose is tax, explained below and on the California page.
Sales tax on silver in San Jose
Sometimes. Monetized bullion (coins), nonmonetized gold and silver bullion, and numismatic coins are exempt only when the single-transaction total is $2,000 or more (since Jan 1, 2023; indexed to CPI). Smaller purchases are taxed at the full local rate (7.25% to over 10%). Platinum and palladium bars and jewelry are taxable. The combined state and local rate is about 10% here.
Full state rules: silver price and tax in California.
Tax when you sell silver in California
Profits on silver are generally taxed by California 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 California
AB 2633 (signed 2026) exempts coin dealers from the secondhand-dealer reporting and hold rules. 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.