Washington state targets savers with new sales tax on Gold and Silver, effective January 1st, 2026

Washington state will begin penalizing citizens for protecting their savings in precious metals, imposing a sales tax on all new purchases effective January 1.

While a number of states have ended state sales taxes on gold and silver purchases in recent years, Washington politicians decided to lash out against the public despite a growing affordability crisis, penalizing citizens who seek to insulate themselves financially. Meanwhile, 44 U.S. states have partially or fully ended such taxes.

The state legislature repealed the longstanding exemption established in 1985, effective January 1, 2026, adding up to 10 percent in sales taxes (depending on where in the state the purchase is made). This action is the reason Washington fell to a rock bottom 50th place on the 2026 Sound Money Index, an annual scorecard that ranks all 50 states by their sound money policies.

While Washington businesses consider closing their doors, their customers may seek to buy and store precious metals in a state without sales taxes on precious metals – or drive to Oregon or Idaho to make tax-exempt purchases.

The Sound Money Defense League is working alongside in-state advocates and lawmakers in Olympia to restore this important tax exemption on gold and silver coins, bars, and rounds. Bills to fix this policy blunder, House Bill 2115 and Senate Bill 5894, have bipartisan support and have already been pre-filed in the legislature. Washington’s legislative session begins January 12th.

Executive director of the League, Jp Cortez said, “Washington took a huge step backwards by repealing their longtime sales tax exemption on Constitutional money. We’re committed to activating our grassroots supporters to fight for the passage of HB 2115 and SB 5894 to end this tax on sound money.”

The Sound Money Defense League urges our grassroots supporters in Washington to act with phone calls and letters when HB 2115 and SB 5894 come up for hearings in Olympia.

Despite Washington’s step backwards, 2025 was the most impactful year for sound money policy in recent history. The Sound Money Defense League was instrumental in the passage of pro-precious metals legislation in states such as Idaho, Kentucky, Connecticut, Wyoming, Alabama, and more.