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Washington State to impose sales taxes on gold and silver
By Jason Sutich
KIRO-FM97.3, Seattle
Sunday, July 13, 2025
Beginning January 1, Washington residents could be required to pay a sales tax on gold, silver, and coins due to a new bill that recently passed the Washington State Legislature.
Ryan Hoolahan, the chief financial officer of Bellevue Rare Coins, explained the impact the new SB-5794 will have on the company's business and customers amid the commodity's positive performance in recent years, on "The John Curley Show" on KIRO Newsradio.
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"The reason you're on today, Ryan, is not a happy story," Curley said. "The folks at the Capitol in Olympia, they're always looking for money, and they figured out that when people buy gold, they can tax it."
While sales tax currently applies to most purchases in Washington, gold and silver coins and bars have been excluded from these taxes.
"Gold has been the greatest hedge against inflation as people wonder, what's the value of the dollar if you keep printing more of it?," Curley said. "I need something with security, and people look at gold, silver, and precious metals because that's the place to put the money." ...
The new bullion sales tax rate is likely to be the standard sales tax rate, which is 6.5% at the state level and an additional 2-3% at the city level, according to Bellevue Rare Coins. ...
... For the remainder of the report:
https://mynorthwest.com/john-curley/washington-gold-silver-tax/4109206
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