IN No exemptions Last reviewed: April 2026

Rules of Gold in Indiana

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The six facts

Statute-level rules. Each fact is sourced; click through to the primary citation.

Bullion exempt

Sales tax on bullion

IC 6-2.5-5-47 (added by P.L. 195-2016, amended by P.L. 239-2017, effective July 1, 2016) exempts three categories from Indiana state gross retail tax: (1) coins permitted as IRA investments under 26 U.S.C. 408(m); (2) bullion permitted as IRA investments under that same section; and (3) legal tender (regardless of purity). IRA-eligible purity thresholds: gold ≥0.995, silver ≥0.999, platinum ≥0.9995, palladium ≥0.9995. Copper products, sub-purity metals, numismatic items, accessory items, and processed/jewelry items are not exempt. Implementing guidance lives in DoR Sales Tax Information Bulletin #50.

Source As of 2026-04-25 · high confidence

No

Recognized as legal tender

Indiana has not enacted a statute recognizing gold or silver coin or specie as legal tender for payment of debts within the state. Multiple legal-tender bills have been introduced and failed: SB 99 (2013, not signed), HB 1043 (2024, died in committee), HB 1400 (2024, bullion depositories + legal tender, did not advance). HB 1614 (2025, "specie legal tender" + Treasurer-designated bullion depositories) passed the House Committee on Financial Institutions 12-1 on February 4, 2025 and was referred to Ways & Means; the bill's final 2025 session disposition was not enacted (Indiana remains absent from the national legal-tender-state count of seven, which Idaho joined as the seventh state in 2025).

Source As of 2026-04-25 · medium confidence

Taxed

Capital gains on bullion

Indiana levies a flat individual income tax with capital gains taxed as ordinary income — no preferential capital-gains rate, no precious-metals exemption. Rate schedule (per HB 1001 / 2023): 3.0% for tax year 2025, 2.95% for tax year 2026, scheduled 2.9% by 2027. All 92 Indiana counties additionally levy a county income tax of approximately 0.5%-2.9%, producing combined effective state-and-county rates of roughly 3.5%-5.9% on capital gains.

Source As of 2025-01-01 · high confidence

No

State bullion depository

Indiana has not enacted enabling legislation authorizing a state-administered or state-chartered bullion depository. HB 1400 (2024) and HB 1614 (2025) would have required the State Treasurer to designate one or more bullion depositories where Indiana consumers could store bullion and establish deposit accounts; neither bill was enacted.

Source As of 2026-04-25 · medium confidence

No

State gold & silver reserves

The Indiana State Treasurer does not hold physical gold or silver as a reserve asset. The Treasurer manages the Public Deposit Insurance Fund (PDIF) and serves as secretary/investment manager of the Indiana Board for Depositories; no precious-metals component is disclosed in the Board's financial reports. Indiana lacks the statutory authority enacted in some other states to permit Treasurer holdings of physical metals.

Source As of 2026-04-25 · medium confidence

No

Pension fund holdings

The Indiana Public Retirement System (INPRS) — created July 1, 2011 by merger of the Indiana Public Employees Retirement Fund and Indiana State Teachers' Retirement Fund — does not hold physical gold or silver as a portfolio asset. INPRS manages approximately $46.6 billion in pension assets (mid-2023 reporting) under a standard institutional asset allocation across public equities, fixed income, alternatives, and real estate; no precious-metals or commodities line item appears in INPRS investment disclosures. The Indiana State Treasurer sits on the INPRS Board of Trustees.

Source As of 2024-06-30 · medium confidence

What this means for buyers

When you buy bullion in Indiana: investment-grade bullion is exempt from state sales tax. The exemption typically covers gold, silver, platinum, and palladium meeting standard investment-grade purity. Verify the exemption applies to your specific purchase — definitions and minimum-purity thresholds vary by statute.

When you sell or otherwise realize a gain: capital gains on bullion are taxed as ordinary income at Indiana’s state-tax rates, stacked on top of the federal 28% collectibles rate. This is a real drag on long-term holdings — consult a CPA before realizing a major position.

Mostly standard taxation; one carve-out worth knowing about. Confirm it covers your specific purchase before relying on it.

Coin & bullion dealers in Indiana

Verified retail dealers — sourced from state corporation registries, BBB, and trade associations.

Full directory →

Engle’s Coin Shop

  • NGC Authorized, PCGS Authorized

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Lost Dutchman Rare Coins

  • Operating since 1985
  • PCGS Authorized, NGC Authorized, BBB Accredited (A+ rated since accreditation)

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Mr. Wimp’s

  • Operating since 1962

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TLC Coin

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About this page. Legislative data captured by the Empirical Research Orchestrator. Each fact links to its primary source. State laws change — confirm material facts with your CPA or the state Department of Revenue before acting on a transaction. Fair Market Value does not provide legal or tax advice.

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