Rules of Gold in Wyoming

Wyoming exempts qualifying gold and silver bullion and specie from the state's 4% sales tax (plus applicable local up to 2%, totaling typically 4-6% combined) via the Wyoming Legal Tender Act's "no tax liability of any kind" provision (Wyo. Stat. Ann. §9-4-1304(c) et seq.) — rather than via a stand-alone sales-tax-exemption statute. Qualifying items: (a) gold and silver coins issued by any country (legal tender mediums of exchange); (b) refined Au/Ag bullion stamped/imprinted with weight and purity, valued based on metal content and not its form (i.e., not numismatic premium beyond intrinsic value). Excluded (still taxable): coins with Au/Ag content but not recognized as mediums of exchange (jewelry coins, commemorative issues primarily valued for collectible/artistic premium); all copper products; bullion not stamped or imprinted with weight and purity; accessories; processed items. Notable scope limit: platinum and palladium are NOT covered by Wyoming's exemption — the legal-tender-act framework is Au/Ag only. Pt/Pd buyers face the full 4-6% combined sales tax.

Wyoming enacted the Wyoming Legal Tender Act via HB 103 (2018, Rep. Roy Edwards R-Gillette), passing the House 55-5 and Senate 25-5; signed-without-signature by Gov. Matt Mead, effective 2018-07-01. Codified at Wyo. Stat. Ann. § 9-4-1301 et seq. (Article 13 of Title 9 Chapter 4). Wyoming was the SECOND US state in the modern era to enact a sound-money legal tender act — preceded only by Utah's 2011 Legal Tender Act. Definitions: "specie" = "(i) coin having gold or silver content; or (ii) refined gold or silver bullion which is coined, stamped or imprinted with its weight and purity and valued primarily based on its metal content and not its form." Critical provisions: (a) "no specie or specie legal tender shall be characterized as personal property for the purposes of property taxation"; (b) "the exchange of one type or form of legal tender for another type or form of legal tender shall not give rise to any tax liability of any kind"; (c) "the purchase, sale, or exchange of any type or form of specie or specie legal tender shall not give rise to any tax liability of any kind." Notable scope: Au/Ag only — platinum and palladium are NOT included in the specie definition. The 2018 Act laid the foundation that 2025's SF0096 (Wyoming Gold Act, see reserves field) operationalizes via mandatory state PM holdings.

Wyoming has no state individual income tax of any kind. Wyoming's no-income-tax posture is constitutional/statutory and durably entrenched (Wyoming has never had an individual income tax). Capital gains on physical gold and silver are subject only to federal income tax (federal long-term collectibles 28% maximum rate; short-term: ordinary income rates). Additionally, the Wyoming Legal Tender Act explicitly provides that "the exchange of one type or form of legal tender for another type or form of legal tender shall not give rise to any tax liability of any kind" and "the purchase, sale, or exchange of any type or form of specie or specie legal tender shall not give rise to any tax liability of any kind" — i.e., even if Wyoming were ever to enact an income tax, specie transactions would remain exempt. Wyoming joins TX, FL, NV, SD, AK, NH (post-2025), TN (post-2021 Hall tax repeal), and WA (which taxes most cap gains via separate vehicle) as no-individual-income-tax states.

Wyoming is the second state in the dataset with confirmed actual physical state-treasury gold holdings (after Utah). Under SF0096 (Wyoming Gold Act, 2025, lead Sen. Bob Ide + 10 cosponsors) signed by Gov. Mark Gordon February 2025: the State Treasurer is REQUIRED (not just authorized) to hold and invest at least $10 million in specie (physical gold or silver coins) and specie legal tender in the state's Permanent Mineral Trust Fund. Section 1 effective 2026-01-01. The bill calls for a Department of Revenue study analyzing methods for the state to accept gold and silver as a payment medium, with results due 2025-10-01. Treasurer Curt Meier completed a purchase of approximately 2,312 troy ounces of gold bars valued above $11.6 million, stored in a high-security vault just outside Casper, Wyoming. The acquisition exceeds the $10M statutory floor. Critical comparison vs Utah: Wyoming's framework is a MANDATE (must hold ≥$10M) while Utah HB 348 is permissive (may hold up to 10% of certain reserve accounts). Wyoming's smaller absolute reserves (~$11.6M / ~2,312 oz) reflect the smaller state-fund base; Utah's $109.7M / ~38,300 oz reserves reflect the larger Utah General Fund + multiple reserve accounts available for the 10% allocation.