Coin shops in Texas

Sales tax when you buy

Bullion Exempt

Texas sales and use tax does not apply to gold, silver, or platinum bullion (bars, ingots, plates), whatever the purchase amount. Bullion made into jewelry is taxable, and palladium is not named in the exemption.

Tax Code Sec. 151.336 exempts the sale of 'platinum, gold, or silver bullion' (and of gold, silver, or numismatic coins). Rule 34 TAC Sec. 3.336(b) states that effective October 1, 2013 these sales are exempt from Texas sales and use tax; before that date the exemption applied only when one sale totaled $1,000 or more (superseded 2006 text of Rule 3.336, STAR 200609715R; Comptroller letter 9103L1094B10 was superseded because H.B. 78 removed the limits effective 10-01-2013). The rule defines bullion as gold, silver, or platinum 'formed into uniform shapes and quantities such as ingots, bars, or plates, with uniform content and purity' as used in bulk or wholesale transactions. Buying a commodity contract for exempt items is not taxable (Rule 3.336(b)(2)). Coins or bullion in the form of jewelry or other items of adornment are not exempt (Rule 3.336(b)(1)). Palladium is not named in Sec. 151.336 or Rule 3.336, and no Comptroller guidance on palladium products, or on platinum coins and rounds that are neither bullion as defined nor numismatic, was found (UNVERIFIED either way).

Collectible coins Exempt

Texas sales and use tax does not apply to sales of gold, silver, or numismatic (collector) coins, whatever the purchase amount. Coins made into jewelry or other adornment are still taxable.

Tax Code Sec. 151.336 reads in full: 'The sale of gold, silver, or numismatic coins or of platinum, gold, or silver bullion is exempted from the taxes imposed by this chapter.' History on the official statute site: added 1989 (71st Leg., ch. 231), amended by H.B. 78 (83rd Leg., 2013), effective October 1, 2013. The enrolled H.B. 78 struck the old limit (the exemption applied only when the total sales price of all items in one sale was $1,000 or more) and the separate use-tax subsection, so the exemption now covers both sales and use tax at any amount. Comptroller Rule 34 TAC Sec. 3.336 (last amended effective July 12, 2018, 43 TexReg 4558) defines a numismatic coin as 'a coin that is not used as a medium of exchange or whose price depends more on characteristics such as beauty, rarity, and condition than on its metal content or its face value.' Under the rule, tax still applies to: (1) gold, silver, or numismatic coins or bullion in the form of jewelry or other items of adornment (Rule 3.336(b)(1)); (2) paper money that is not currency, i.e. not circulating legal tender, which is taxed on its total sales price (Rule 3.336(d)); and (3) taxable items bought with coins or bullion, where tax is owed on the taxable item's sales price (Rule 3.336(e)). The official statute site states it is current through the 89th Legislature, 2nd Called Session (2025) and shows no amendment to Sec. 151.336 after 2013. The Comptroller's January 2025 Tax Exemptions and Tax Incidence report describes the exemption as added in 1989 and amended in 2013 to remove a $1,000 threshold.

Sources: Texas Tax Code Ch. 151, Sec. 151.336 (official statute site) · 34 TAC Sec. 3.336 - definitions of bullion, currency and numismatic coin; jewelry exclusion; commodity contracts (Cornell LII mirror) · Comptroller STAR 9103L1094B10 - superseded April 6, 2018 because Sec. 151.336 was amended to remove the exemption limits (H.B. 78, eff. 10-01-2013) · Comptroller STAR 200609715R - superseded 2006 text of Rule 3.336 with the old $1,000 single-transaction threshold · Texas Comptroller - Tax Exemptions and Tax Incidence (January 2025) · H.B. 78 (83rd Leg., 2013), enrolled text - strikes the $1,000 threshold; takes effect October 1, 2013 · Texas Bullion Depository (Comptroller-administered) - Sales Tax Benefits: Texas does not tax the sale of numismatic coins or gold, silver or platinum bullion

When you sell to a dealer

ID

No Texas state law sets ID, hold-period, or payment rules for an ordinary coin shop buying your coins or bullion bars: the state crafted-precious-metal law expressly excludes coins, bars and commemorative medallions. State rules do apply if you sell jewelry, silverware or other crafted precious metal to a registered dealer (you file a list describing the items with your certification that it is true, the dealer records your driver's license or Texas ID number and reports to police within 48 hours) or sell anything, coins included, to a licensed pawnshop (photo ID, a purchase record, and usually a 20-day hold). Pawnshops may not buy from anyone under 18; a registered crafted-precious-metal dealer needs written parental consent to buy from a minor. Some cities add their own rules, and Austin's city code covers coins.

Holding period

Coins and bars at an ordinary coin dealer: no state hold period, because the state crafted-precious-metal definition excludes coins, bars and commemorative medallions (Occ. Code Sec. 1956.051(3)). Jewelry, silverware and other crafted precious metal sold to a registered dealer: the dealer may not melt, deface, alter, or dispose of it before the 11th day after the purchase report is filed, unless the peace officer who receives the report authorizes earlier disposition for good cause or the dealer records the buyer's name, address and description; a peace officer with reasonable suspicion that an item is stolen can place it on hold for up to 60 days by written notice (Occ. Code Sec. 1956.064). Licensed pawnshops: each item of personal property bought from the general public must be held at least 20 days, or less if a local ordinance specifies a shorter hold or if the pawnshop and local law enforcement agree in writing to a shorter hold with electronic ticket reporting (7 TAC Sec. 85.420(b)); OCCC's suggested guidelines say a law-enforcement hold order should not exceed 60 days, extendable in 30-day increments (7 TAC Sec. 85.419). Local examples from current published city codes: Dallas regulated-property dealers hold purchases 21 calendar days (Dallas City Code Sec. 39B-3(b)(4)), but Dallas's crafted-precious-metals definition excludes coins, bullion and bars; Houston crafted-precious-metals dealers hold items 11 days (Houston Code Sec. 7-90), with coins and bars excluded from the definitions; Fort Worth secondhand dealers hold purchases 14 consecutive days unless police authorize less in writing (Fort Worth Code Sec. 20-254); Austin's current Chapter 4-6 sets no hold period for jewelry and precious-metal dealers.

What the dealer records

Registered crafted-precious-metal dealers (jewelry, silverware, art objects and similar items; not coins or bars): before accepting items, the dealer must have the seller file a list with the seller's name and address, a complete and accurate description of the items, and the seller's certification that the information is true and complete; the dealer records the seller's driver's license number or DPS personal identification certificate number on physical presentation of the card; a complete copy of the list goes to the police chief, or the county sheriff outside a city with a police department, within 48 hours; the dealer keeps a copy of the report until the third anniversary of filing (Occ. Code Secs. 1956.062-1956.063). Licensed pawnshops: the seller must show photo ID (a state driver's license, state ID card, passport, military ID, Mexican consular ID (matricula consular), or ID from the U.S. citizenship and immigration agency), and the pawnbroker must make a best effort to confirm it is genuine and identifies the seller (Fin. Code Sec. 371.174); the purchase record must include the seller's name, address, physical description and an ID number, a complete description of the property including any serial number reasonably available, and the seller's signed statement of the right to sell (Fin. Code Sec. 371.177); books and records are kept at least until the second anniversary of the last transaction recorded (Fin. Code Sec. 371.152); purchase-ticket information must be made available to law enforcement electronically or as a separate copy (7 TAC Secs. 85.406 and 85.420(a)). OCCC rules say a pawnbroker is not required to photograph the pledgor or seller (7 TAC Sec. 85.405(a)(6)); no thumbprint requirement appears in Finance Code Ch. 371 or 7 TAC Secs. 85.405 and 85.420. Cities can be stricter: Dallas regulated-property dealers (jewelry and crafted precious metals; coins, bullion and bars excluded from crafted precious metals) record the seller's name, address, sex, date of birth and ID number on a sequentially numbered ticket, photocopy the ID, photograph the seller's face, obtain a signed ownership statement, and keep records one year from purchase or until the item is sold, whichever is later (Dallas City Code Sec. 39B-3); Houston crafted-precious-metals dealers enter each purchase in a real-time electronic database by close of business daily and record the seller's ID number, a digital photo of the seller, a thumbprint and a digital image of each item, keeping records at least three years (Houston Code Sec. 7-88); Austin jewelry and precious-metal dealers (Austin defines precious metal to include coins) must require photo ID, record the seller's name, sex, race, ID number, date of birth and address in a police-issued logbook, and deliver logbook entries to the police chief by noon each Friday (Austin City Code Secs. 4-6-4, 4-6-14, 4-6-17).

How you get paid

No Texas statute was found that caps cash payments or requires payment by check when a coin, bullion or crafted-precious-metal dealer buys from the public (negative finding from a read of Occ. Code Ch. 1956, Fin. Code Ch. 371 and Tax Code Ch. 151). The cash-transaction-card rule and the check, money-order or direct-deposit payment options in Occ. Code Secs. 1956.0381-1956.0382 apply only to metal recycling entities buying 'regulated material' (aluminum, bronze, copper or brass, lead, and listed regulated metal items), not to coin dealers. Federal rule (not Texas-specific): a trade or business that receives more than $10,000 in cash in one transaction or in related transactions must file IRS Form 8300 within 15 days. That rule is triggered by cash the dealer receives (for example, a customer paying cash for coins), not by cash the dealer pays out.

Minimum age

18 for pawnshops: a pawnbroker may not accept a pledge or purchase property from a person under 18 (Fin. Code Sec. 371.176). A registered crafted-precious-metal dealer may buy from a person under 18 only with a written consent statement from the seller's parent or legal guardian (Occ. Code Sec. 1956.066). No state minimum age was found for an ordinary coin shop buying coins or bars (negative finding). Local: Austin bars jewelry and precious-metal dealers from buying from anyone under 18, and its definition of precious metal includes coins (Austin City Code Secs. 4-6-11, 4-6-18); Dallas bars regulated-property dealers from buying from anyone under 18 (Dallas City Code Sec. 39B-5(a)(6)); Houston crafted-precious-metals dealers and Fort Worth secondhand dealers need written parent or guardian consent to buy from a minor (Houston Code Sec. 7-91; Fort Worth Code Sec. 20-257).

Sources: Texas Occupations Code Ch. 1956 (official statute site, HTML) - Subchapter B: Sale of Crafted Precious Metal to Dealers (Secs. 1956.051, 1956.062-1956.066); Secs. 1956.0381-1956.0382 (metal recycling entities) · Texas Finance Code Ch. 371 - Pawnshops (official statute site, HTML): Secs. 371.152, 371.174, 371.176, 371.177, 371.182 · 7 TAC Sec. 85.420 - Purchase Transactions (20-day hold and exceptions; applies 85.405 ID rules and 85.406 reporting to purchases; Cornell LII mirror) · 7 TAC Sec. 85.405 - Pawn Transaction (acceptable ID; no photograph requirement; Cornell LII mirror) · 7 TAC Sec. 85.406 - Law Enforcement Reporting (Cornell LII mirror) · 7 TAC Sec. 85.419 - Hold Orders (suggested guidelines: up to 60 days, extendable in 30-day increments; Cornell LII mirror) · Texas OCCC - Crafted Precious Metals Dealers (coins, bars and commemorative medallions are outside the definition; OCCC does not handle transaction reports) · Dallas City Code Ch. 39B - Regulated Property (Sec. 39B-2 definitions; Sec. 39B-3 records and 21-day hold; Sec. 39B-5 offenses; code version 7/2026, S-33) · Houston Code of Ordinances Ch. 7, Art. IV - Crafted Precious Metals Dealers (Secs. 7-81, 7-88, 7-90, 7-91; Ord. 2013-111; Municode version Sep 28, 2026) · Austin City Code Ch. 4-6 - Pawnbrokers, Jewelers, and Secondhand Good Dealers (Art. 2, Secs. 4-6-11 to 4-6-18; Municode version Aug 26, 2026) · Fort Worth City Code Ch. 20, Art. VII - Secondhand Dealers and Related Businesses (Secs. 20-251 to 20-271; code version 2026 S-20) · IRS - Form 8300 and reporting cash payments of over $10,000 (federal)

Dealer licensing

Texas has no state license for coin and bullion dealers as such (negative finding). At the state level, the Office of Consumer Credit Commissioner (OCCC) licenses pawnshops and registers crafted-precious-metal dealers (jewelry, silverware and similar items; coins, bars and commemorative medallions are excluded, but a business that buys and sells crafted precious metal must register, so a coin shop that also buys jewelry generally needs this registration unless it is a licensed pawnshop). The Department of Public Safety registers metal recycling entities (scrap metal, not coin shops), the Department of Agriculture registers commercial scales, and the Comptroller issues sales tax permits. Some cities also license or register these dealers through the police department or a city office: verified examples are Austin, Dallas, Fort Worth and Houston.

• Pawnshop license and pawnshop employee license (Texas Finance Code Ch. 371) · Texas Office of Consumer Credit Commissioner (OCCC) · look up a license
• Crafted Precious Metal Dealer registration (Occupations Code Sec. 1956.0612) - required to engage in the business of purchasing and selling jewelry, silverware, art objects and similar precious-metal items; coins, bars, commemorative medallions and items selling at 105% or more of scrap value are outside the definition; renewed annually (OCCC renewal window December 1-31) · Texas Office of Consumer Credit Commissioner (OCCC); purchase reports go to the local police chief or county sheriff · look up a license
• Metal Recycling Entity registration (Occupations Code Ch. 1956) - scrap metal businesses, not coin shops · Texas Department of Public Safety (Texas Metals Program) · look up a license
• Texas Sales and Use Tax permit - required of a 'seller' of taxable items (Tax Code Secs. 151.008, 151.202), so a shop needs one to collect tax on taxable sales such as jewelry, supplies or collectible paper money; coin and bullion sales themselves are exempt · Texas Comptroller of Public Accounts · look up a license
• Commercial weighing device registration - a scale used in a commercial transaction must be registered with the state before use and renewed each year (Agriculture Code Sec. 13.1011), and TDA says such scales must be legal for trade under NIST Handbook 44 · Texas Department of Agriculture, Weights and Measures
• Local dealer license or registration (varies by city). Verified examples: Austin jewelry and precious-metal dealers register with the police chief (Austin City Code Sec. 4-6-12); Dallas regulated-property dealers need a license from the chief of police, annual fee $245 (Dallas City Code Secs. 39B-7, 39B-9); Fort Worth secondhand dealers need an annual license approved by the chief of police (Fort Worth Code Sec. 20-271); Houston crafted-precious-metals dealers need a city license (Houston Code Sec. 7-82), and the city's Administration & Regulatory Affairs department issues antique and precious metal dealer permits · City police department or city licensing office

If something goes wrong

• Texas Attorney General - Consumer Protection Division: file a consumer complaint about false, misleading or deceptive business practices (for example not receiving what you paid for). The AG says complaints are open to the public under Texas law and that it cannot give legal advice. AG phone 800-252-8011 (listed on the AG's gold coin page).
• Texas Attorney General - online Consumer Complaint Portal
• Texas Office of Consumer Credit Commissioner (OCCC) - complaints about pawn transactions and crafted precious metal dealers (consumer assistance helpline 800-538-1579); complaints may be public under the Texas Public Information Act
• Texas Attorney General - Investing in Gold Coins (fraud tips and contacts: Attorney General 800-252-8011, Numismatic Crime Information Center 817-723-7231, Numismatic Consumer Alliance 908-781-7947, Professional Numismatists Guild 760-728-1300, the credit card company used, and local police or sheriff)
• Texas State Securities Board - written complaints about possible violations of the Texas Securities Act (by mail or email); in 2019 the Board took action against a precious-metals seller accused of persuading older investors to liquidate securities to buy metals
• Texas Department of Agriculture, Weights and Measures - complaints about allegedly inaccurate scales or being overcharged in a commercial transaction
• CFTC - Precious Metal Frauds (federal consumer warning page)

• KEY TAKEAWAY FOR LISTING PAGES: in Texas, sales of gold, silver and numismatic coins and of gold, silver and platinum bullion are free of sales and use tax at any purchase amount (Tax Code Sec. 151.336; threshold removed Oct 1, 2013), except items made into jewelry. The state seller-ID, report and hold rules for crafted precious metal (Occupations Code Ch. 1956, Subch. B) expressly exclude coins, bars and commemorative medallions, and pawnshops follow separate pawn rules. For a coin or bar sale at an ordinary coin shop, the rules that apply are mostly local, and they differ by city (Austin's code covers coins; the Dallas and Houston precious-metal definitions exclude them). Sources: https://statutes.capitol.texas.gov/Docs/TX/htm/TX.151.htm , https://statutes.capitol.texas.gov/Docs/OC/htm/OC.1956.htm , https://occc.texas.gov/industry/cpmd
• Crafted precious metal (state definition, Occ. Code Sec. 1956.051(3)): 'jewelry, silverware, an art object, or another object, made wholly or partly from precious metal and used primarily for personal, family, or household purchases'. It excludes a coin, a bar, a commemorative medallion, an item selling at 105 percent or more of its scrap value, items used for dental, pharmaceutical or medical applications, and precious metal recovered from industrial by-products or waste. 'Precious metal' means gold, silver, platinum, palladium, iridium, rhodium, osmium, ruthenium, or an alloy of those metals (Sec. 1956.051(6)). Source: https://statutes.capitol.texas.gov/Docs/OC/htm/OC.1956.htm
• Pawnshops licensed under Finance Code Ch. 371 (and affiliates whose recordkeeping meets Ch. 371) are exempt from the crafted-precious-metal subchapter and follow the pawn rules instead (Occ. Code Sec. 1956.060). Source: https://statutes.capitol.texas.gov/Docs/OC/htm/OC.1956.htm
• Penalties and enforcement for crafted precious metal dealers: OCCC may revoke a registration (Occ. Code Sec. 1956.0614) and assess an administrative penalty of up to $500 for each knowing and wilful violation (Sec. 1956.0615). Failing to make or permit inspection of the required reports, violating the registration or 11-day hold rules, failing to obtain or keep a minor's parental-consent statement, failing to file a temporary-location registration, or buying melted items in violation of Sec. 1956.068 is a Class B misdemeanor (Sec. 1956.069). OCCC says it does not handle transaction reports; those go to local law enforcement. Sources: https://statutes.capitol.texas.gov/Docs/OC/htm/OC.1956.htm and https://occc.texas.gov/industry/cpmd