Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more.
Why not register an account and join the discussions? When you register an account and log in, you may enjoy additional benefits including no Google ads, market data/charts, access to trade/barter with the community and much more. Registering an account is free - you have nothing to lose!
Update.
Wyoming Senate Approves Bill to Hold $10 Million in Physical Gold
With an overwhelming majority, the Wyoming state senate has voted favorably on legislation that would establish a stockpile of gold for the Cowboy State.www.soundmoneydefense.org
June 30, 2025 – Today, Connecticut Gov. Ned Lamont (D) signed House Bill 7287 into law which includes a provision removing the last remaining tax on purchases of gold, silver, platinum, and palladium bullion.
...
Connecticut had been one of only six states in the United States maintaining merely a partial sales tax exemption on purchases of precious metals. Connecticut’s regressive practice of taxing only purchases under $1,000 singled out small-time savers for a tax penalty that larger gold and silver purchases do not face.
By enacting HB 7287 with the sound money language intact, Connecticut has set an example for legislators in California, Florida, Massachusetts, New Jersey, and New York, where smaller-sized purchases (under $500, $1,000, or $2,000) of precious metals are still hit with sales taxes.
The Connecticut sales tax exemption on the monetary metals will take effect on July 1, 2027.
The measure also calls for the establishment, effective upon the bill’s signing, of a Connecticut precious metals working group to monitor (1) economic conditions, (2) inflation expectations, (3) precious metals prices and activities, including the market activities of leading commodities exchanges and bullion market associations, and (4) precious metals legislation proposed in or enacted by other states.
The working group will be made up of members of the General Assembly, the state treasurer, and any other individuals necessary to carry out the duties of the working group. Commencing in 2026 and annually thereafter, the working group is expected to submit a report summarizing the group’s findings, including any recommendations to improve the precious metals market in the state.
...
Including Connecticut, 46 U.S. states now fully or partially exempt gold and silver from the sales taxes as of this writing. That leaves 4 states and the District of Columbia as the primary jurisdictions that still harshly penalize citizens seeking to protect their savings against the serial devaluation of the Federal Reserve Note.
On July 1, 2025, Virginia and Maryland will reimpose sales tax on all purchases of precious metals in their states, and in January 2026, Washington will begin taxing metals as well. The Sound Money Defense League and Money Metals Exchange are already in communication with lawmakers in these three states to ensure legislation is introduced next year to restore the lost exemptions.
...
More states out to rob you.Maryland and Washington State Impose Sales Taxes on Gold and Silver Bullion
While taxes on gold and silver may benefit governments by providing a modest revenue stream, it harms the citizens the government supposedly serves.www.soundmoneydefense.org
Maryland and Washington State Impose Sales Taxes on Gold and Silver Bullion
While taxes on gold and silver may benefit governments by providing a modest revenue stream, it harms the citizens the government supposedly serves.www.soundmoneydefense.org
...
House Bill 206, introduced by Reps. Jennifer Gross (R-West Chester) and Riordan McClain (R-Ashland), would establish a state currency based on gold and silver. The bill directs the state treasurer to set up a transactional currency rooted in silver and gold to address concerns with the value of the U.S. dollar.
...
... If passed, H.B. 206 would make Ohio the 12th state to recognize its own gold and silver currency. The bill would also remove taxes associated with silver and gold purchases, making it easier to pay without the dollar.
...
H.B. 206 is in House Financial Institutions Committee, and had its first hearing on Oct. 15. A second hearing is not yet scheduled.
Maryland and Washington State Impose Sales Taxes on Gold and Silver Bullion
While taxes on gold and silver may benefit governments by providing a modest revenue stream, it harms the citizens the government supposedly serves.www.soundmoneydefense.org
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?