Mississippi – FMV Gold

The six facts

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

Exempt

Sales tax on bullion

Mississippi exempts the sale of coins, currency, and bullion from state sales tax under Miss. Code §27-65-111, as amended by Senate Bill 2862 (2023 Regular Session) signed by Gov. Tate Reeves and effective July 1, 2023. "Bullion" is defined as a bar, ingot, or coin manufactured in whole or in part of gold, silver, platinum, or palladium that was or is used solely as a medium of exchange, security, or commodity by any state, the United States Government, or a foreign nation, and sold based on the intrinsic value of the metal as a precious-metal or collectible item rather than its form or face value as a medium of exchange. The exemption does not apply to jewelry or other decorative items made from precious metals.

Source As of 2023-07-01 · high confidence

Recognized as legal tender

Mississippi has not enacted a statute recognizing gold or silver coin or specie as legal tender for payment of debts. Multiple legal-tender bills have been introduced and failed: HB 1064 (2024, Rep. Timmy Ladner — defines specie and authorizes gold/silver as legal tender; prohibits taxation of specie as personal property), HB 1518 (2024, similar provisions), HB 1684 (2024, "Mississippi Bullion Depository" framework with specie + electronic/digital currency legal tender), and HB 545 (2025, recognizes US-government / state-government issued gold or silver as legal tender with voluntary-use clause). None enacted. Mississippi remains absent from the legal-tender state list as of 2026.

Source As of 2026-04-26 · medium confidence

Taxed

Capital gains on bullion

Mississippi taxes capital gains as ordinary income through its flat individual income tax: 4.40% for tax year 2025, scheduled to decrease to 4.00% for tax year 2026 per earlier Mississippi tax-reform legislation. There is no preferential rate for capital gains, no distinction between short-term and long-term gains, and no precious-metals-specific carve-out. Capital gains on physical gold and silver are taxed at the applicable flat rate.

Source As of 2025-01-01 · high confidence

State bullion depository

Mississippi has not enacted enabling legislation authorizing a state-administered bullion depository. HB 1684 (2024) proposed the "Mississippi Bullion Depository" but did not advance.

Source As of 2026-04-26 · medium confidence

State gold & silver reserves

The Mississippi State Treasurer does not hold physical gold or silver as a reserve asset.

Source As of 2026-04-26 · medium confidence

Pension fund holdings

The Public Employees' Retirement System of Mississippi (PERS) — administering retirement benefits for state, county, and municipal employees, public school teachers, and other public employees — follows a standard institutional asset allocation across public equities, fixed income, alternatives, and real estate. No precious-metals or commodities line item is disclosed.

Source As of 2024-06-30 · medium confidence

What this means for buyers

When you buy bullion in Mississippi: 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 Mississippi’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.

Rules of Gold in Mississippi

The six facts

Sales tax on bullion

Recognized as legal tender

Capital gains on bullion

State bullion depository

State gold & silver reserves

Pension fund holdings

What this means for buyers

Coin & bullion dealers in Mississippi

Dixie Coins

Silver Dollar Coin Exchange

Sims Gold, Silver and Coin Exchange

The Coin Chop Biloxi

Track your Mississippi collection at fair-market value.