Florida’s $500 Item-Level Threshold

Florida taxes sales of gold, silver, and platinum bullion coins and bars when the single-item sale price is $500 or less. Sales above $500 are exempt. The rule is found in Florida Statute 212.05 and implemented through Florida Administrative Code Rule 12A-1.0371.

Unlike California’s $2,000 transaction-level threshold, Florida’s $500 test applies per item. A single 1 oz gold coin priced at $2,400 qualifies for the exemption. A 1/10 oz gold coin priced at $240, even if purchased alongside nine others on the same invoice totaling $2,400, does not qualify. Each 1/10 oz coin is tested individually against the $500 threshold.

This item-level structure has meaningful consequences for buyers of fractional coins and small bars. Silver, where most products fall well below $500, is taxable on essentially every common form. Gold fractional coins (1/10 oz, 1/4 oz, sometimes 1/2 oz) frequently fall below $500 as well, depending on the spot price at time of purchase.

Below the $500 threshold, Florida’s state sales tax of 6% applies, plus county discretionary surtaxes ranging from 0% to 1.5%. Combined rates run from 6.0% (in counties with no local surtax) up to 7.5%.

What Qualifies as Exempt

Rule 12A-1.0371 exempts “bullion” meaning gold, silver, or platinum in a state or form in which its value depends on its content and not its form. The rule specifies that the exemption applies when:

  • The sale price of a single coin or bar exceeds $500, and
  • The item is sold based on its precious metals content rather than numismatic value

Qualifying items at typical 2026 prices. A 1 oz American Gold Eagle, 1 oz Canadian Maple Leaf, 1 oz Krugerrand, 1 oz gold bar, or 1/2 oz gold coin (when spot is high enough to push it over $500) qualifies. Most silver products, including 100 oz silver bars priced below $5,000 in current conditions actually do clear the threshold, while standard 1 oz silver coins priced under $50 do not.

Items that do not qualify. 1/10 oz gold coins at sub-$500 prices, all 1 oz silver coins and rounds, small silver bars, and any numismatic coin where the sale price reflects collector value over metal value. The numismatic carve-out mirrors California’s approach: a pre-1933 U.S. gold coin sold at a 50% premium to melt may not qualify even when its price exceeds $500, depending on Department of Revenue interpretation.

Jewelry is never exempt. Accessories and supplies remain taxable.

Local Discretionary Surtaxes

Florida counties can impose a discretionary sales surtax on top of the 6% state rate. These surtaxes fund schools, transportation, and local infrastructure. As of 2026:

Miami-Dade County applies a 1% surtax, bringing the effective rate to 7%. The surtax applies only to the first $5,000 of any single sale, which is relevant for large bullion purchases that fall under the $500 exemption by being split into small items.

Broward County is at 7% combined.

Palm Beach County is at 7% combined.

Orange County (Orlando) is at 6.5%.

Hillsborough County (Tampa) is at 7.5%.

Duval County (Jacksonville) is at 7.5%.

For a $400 fractional gold coin purchased in Miami-Dade, the tax is $28. For 10 such coins on a single invoice, the tax is $280, since each coin is tested individually against the $500 threshold.

What Counts as a “Single Item”

Florida’s rule applies the $500 test to a single item, but the Department of Revenue has guidance on what constitutes “an item” in specific scenarios:

Coin sets. A proof set or bullion set priced as a unit is tested against $500 based on the set price, not the individual coins. A $1,200 four-coin proof set qualifies for the exemption as a single item.

Bar bundles. A dealer selling 10 separate 1 oz silver bars as individual items tests each against $500. Selling them as a single “10 oz bar tube” packaged as one SKU potentially qualifies the whole unit, though this varies by dealer practice and Department of Revenue interpretation has not always been consistent.

Tubes of coins. A tube of 20 silver Eagles is typically invoiced per coin and each coin is tested separately. Bulk monster boxes (500 coins) are similarly priced per coin.

This item-level structure effectively taxes most silver purchases in Florida and protects larger gold purchases. The practical effect is that fractional gold and bulk silver accumulation cost 6-7.5% more in Florida than in fully exempt states.

Federal Capital Gains Still Apply

Florida has no state income tax, so there is no state capital gains tax on precious metals sales. This matches Texas and makes Florida one of the more favorable states for gold investors once acquisition taxes are paid.

Federal rules apply regardless. Long-term gains (holding period over one year) are taxed at up to 28% as collectibles under IRC Section 408(m). Short-term gains are taxed at ordinary income rates. Full detail is in our capital gains tax on gold guide.

Practical Guidance for Florida Buyers

Scale up to single items above $500 when possible. Where the investment goal is gold, buying 1 oz coins rather than 1/10 oz coins eliminates the tax entirely. The premium on fractional coins is already 5-10% higher than on 1 oz products; the tax on top pushes the cost disadvantage to 12-17%.

Silver accumulation is expensive in Florida. Because essentially all silver bullion items are priced below $500, Florida buyers pay 6-7.5% sales tax on almost every silver purchase. For large silver positions, buying during visits to exempt states (Georgia, Tennessee, South Carolina are all adjacent or near) can produce meaningful savings.

Consider coin sets for fractional gold. A proof set priced as a single unit exceeding $500 qualifies. Buying individual fractional pieces does not.

Online purchases from out-of-state dealers. Most national dealers have Florida nexus and will apply the $500 test correctly on each line item. Smaller dealers without Florida nexus do not collect Florida sales tax, though use tax is technically owed.

Watch for shipping charges in the taxable base. If shipping is included in the line-item price, a $495 coin with $20 shipping might be treated as a $515 sale, depending on invoice structure. Separately stated shipping is generally not in the tax base.

Comparison to Neighboring States

Georgia is fully exempt for bullion and coins (see our Georgia gold sales tax guide). Jacksonville and Tallahassee buyers sometimes cross the line for large purchases.

Alabama has a $1,500 single-transaction threshold, above which purchases are exempt.

South Carolina is fully exempt.

For the full state-by-state map, see the sales tax by state guide.

Legislative Outlook

Florida industry groups have pushed for elimination of the $500 threshold, which would bring Florida in line with Texas and other fully exempt states. Legislative proposals have been introduced in multiple sessions but have not advanced. The $500 threshold has been unchanged since the exemption structure was enacted decades ago, making it one of the lower and less buyer-friendly thresholds in the country.

Frequently Asked Questions

Does the Florida $500 threshold apply per item or per transaction?

Per item. Each coin, bar, or round is tested individually against $500. Ten fractional coins totaling $4,000 on one invoice are all taxable if each individual coin is priced at $400. One $4,000 gold bar is exempt.

Do I pay Florida sales tax on silver Eagles?

Yes. A 1 oz American Silver Eagle priced at spot plus premium is well under $500 in any normal market. Each coin is taxable at 6% state plus any local discretionary surtax (0-1.5%), for a combined 6.0-7.5%.

Does Florida exempt numismatic coins above $500?

Not automatically. The exemption requires that the coin be sold primarily for its precious metals content. Coins sold at significant premiums above melt for their collector value may be treated as numismatic and subject to tax even above $500. This distinction is subjective and has been the subject of audit disputes.

Is there a use tax for out-of-state purchases?

Yes. Florida imposes a 6% use tax on purchases brought into or shipped into Florida from out-of-state sellers who did not collect sales tax. Enforcement for individual consumer purchases is minimal, but the legal obligation exists and can surface in audit situations.