CT No exemptions Last reviewed: April 2026

Rules of Gold in Connecticut

The six facts

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

Exempt

Sales tax on bullion

Connecticut General Statutes § 12-412(45) exempts precious-metals bullion and coins from Connecticut's sales and use tax. Under the enacted-via-HB-7287 reading (Tier-2 verification 2026-04-26), the 2025 budget bill: (a) removes the prior $1,000 minimum-purchase threshold so the exemption applies to all sales; (b) extends the exemption to platinum and palladium bullion (in addition to gold and silver); (c) limits the gold/silver bullion exemption to bullion of at least 90% purity. Effective date per Sound Money Defense League coverage of the enacted Connecticut law: July 1, 2027 — not January 1, 2026 as the original SB 1552 text suggested. Operator must verify against the HB 7287 enrolled-bill text before publication. Until July 1, 2027, the prior-law $1,000 threshold and gold/silver-only scope remain in force.

Source As of 2027-07-01 · medium confidence

Yes

Recognized as legal tender

Connecticut Senate Bill 1552, as introduced in the 2025 session, would formally recognize gold and silver coins and bullion as legal tender in Connecticut. However, Tier-2 verification (2026-04-26) found that the operative provisions enacted in 2025 appear to have been the tax-exemption pieces folded into HB 7287 (Public Act 25-168, the 2025 budget bill); whether the legal-tender recognition language survived into the budget-bill version is not confirmed. The standalone SB 1552 may have died in favor of HB 7287; alternatively SB 1552 may have been enacted separately. Operator must read the enacted Public Acts (HB 7287 / SB 1552 enrolled-bill text) before treating Connecticut as a confirmed legal-tender state.

Source As of 2025-05-08 · medium confidence

Taxed

Capital gains on bullion

Connecticut taxes capital gains from precious metals as ordinary income (state income tax rate: 6.99% top marginal rate, plus local taxes in some jurisdictions). The standalone SB 1552 (introduced) included a Section 8 amendment to Connecticut General Statutes § 12-701 introducing a deduction for precious metals held six or more months before sale, plus a separate deduction for "Gold Start Savings Program" earnings. Whether these capital-gains amendments were carried into the enacted HB 7287 budget bill or were dropped is not confirmed by Tier-2 verification. Operator must read the enrolled HB 7287 / SB 1552 text against Connecticut OLR's "2025 Acts Affecting Taxes" before treating the 6-month-hold deduction as in force.

Source · medium confidence

Authorized

State bullion depository

SB 1552 (introduced) included Sections 5-6 establishing the Connecticut Bullion Depository as a state-run facility under Treasurer authority, with the working group provisions (Section 9) flanking the depository authorization. Whether the depository sections survived into the enacted HB 7287 budget bill is not confirmed by Tier-2 verification — multiple sources reference the precious-metals working group surviving but are silent on whether the depository authorization made it through. Operational status: not yet operational regardless. Operator must verify the enacted Public Act before treating the depository as authorized in current Connecticut law.

Source · medium confidence

No disclosure

State gold & silver reserves

Connecticut State Treasurer office does not publish evidence of physical precious-metals holdings in comprehensive annual financial reports, treasury reports, or audited statements. No public disclosure of bullion or specie reserves found in available state publications as of 2026-04-25.

Source As of 2026-04-25 · medium confidence

No disclosure

Pension fund holdings

Connecticut Retirement Plans and Trust Funds (CRPTF), which manages the state's public pension plans, does not disclose physical precious-metals holdings in published comprehensive annual financial reports. Standard investment portfolios focus on equities, bonds, and alternatives; no gold or silver holdings publicly reported.

Source As of 2026-04-25 · medium confidence

What this means for buyers

When you buy bullion in Connecticut: 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 Connecticut’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.

On state legal tender: Connecticut recognizes gold and silver coin as legal tender at the state level. Practically, specie can be used to settle private debts in-state and gains from specie transactions may be excluded from state taxation under related provisions. It does not obligate retailers to accept bullion in payment.

On state depository: legislation authorizes a state depository but operations haven’t commenced. Expect a startup window for facility, governance, and audit setup. Until then, private depositories handle storage.

A mixed picture — some friction on entry or exit, but a real exemption to plan around. Read the fact cards above and consider how each rule applies to your transaction size.

Coin & bullion dealers in Connecticut

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

Full directory

Marty’s Stamp & Coin

Operating since 1972

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Old Towne Coin

ANACS certified, NGC Authorized, PCGS Authorized (triple grading-service authorization is…

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Robert S. Riemer

PCGS Authorized, NGC Authorized, ANA Life Member

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RSR Numismatics and Collectibles, LLC

Milford

Operating since 1970
PCGS Authorized (30+ years), NGC Authorized (30+ years)

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Sam Sloat Coins

Operating since 1961

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About this page. Each fact on this page links to its primary source. State laws change, so 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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