Virginia’s retail sales-tax exemption for qualifying precious-metals bullion and legal tender coins has been preserved following the enactment of HB 30, the Commonwealth’s biennial budget legislation for 2026–2028.

Passage of the extension concludes months of intensive legislative advocacy and coalition-building led by Virginia-based industry stakeholders in partnership with the National Coin & Bullion Association (NCBA).

The exemption, codified under Virginia Code §58.1-609.1, applies to qualifying gold, silver, and platinum bullion and legal tender coin transactions. Without legislative action, the exemption was scheduled to expire on June 30, 2026, which would have subjected bullion and coin purchases in Virginia to state sales tax beginning July 1, 2026.

Following extensive negotiations during Virginia’s 2026 Special Session, the House and Senate approved the final conference report for HB 30 on June 22, 2026, and the governor subsequently signed the measure into law. The enacted budget prevents any interruption in the tax treatment of qualifying bullion transactions through June 30, 2028.

Industry leaders characterized the outcome as a major victory for Virginia collectors, investors, and dealers.

“This extension preserves Virginia’s competitiveness in the national bullion and numismatic marketplace,” said DLRC president and owner John Brush. “Without it, Virginia dealers would have faced a significant disadvantage compared to neighboring states that continue to exempt precious-metals transactions from sales tax.”

The exemption’s future appeared uncertain after the General Assembly approved only a temporary, one-year extension during the prior legislative cycle, reflecting shifting political dynamics in Richmond. That limited extension prompted concern throughout the numismatic and precious-metals industries. Anticipating a more challenging legislative environment in 2026, industry participants prepared for an expanded statewide campaign to preserve the exemption, which led to a coordinated advocacy campaign aimed at securing a longer-term continuation.

In 2025, DLRC underwrote the majority of the advocacy and lobbying effort required to secure the temporary extension. DLRC again played a leading role in directing and supporting the advocacy campaign for 2026, with critical support provided by a broad coalition of Virginia dealers, collectors, and industry partners, including CACG, Heritage Auctions, Stack’s Bowers, Whitman Publishing, and numerous additional businesses and individuals across the numismatic and precious-metals community. A coordinated legislative advocacy team remained actively engaged throughout the legislative session and conference negotiations.

The continuation of the exemption reflects Virginia’s longstanding practice of supporting bullion and numismatic commerce through targeted tax policy. Industry representatives said the successful effort demonstrates the effectiveness of coordinated advocacy among dealers, collectors, grading services, publishers, and trade organizations.

“Virginia’s success demonstrates why continuous industry participation is essential, as states across the country reevaluate tax policies affecting precious-metals transactions,” said David Crenshaw, executive director of NCBA. “Protecting these exemptions requires a unified effort from dealers, collectors, and industry partners to ensure lawmakers understand the economic importance of a competitive and tax-neutral marketplace for bullion and numismatic commerce.”

For additional information regarding ongoing advocacy efforts, interested parties may contact NCBA at ncba@ncbassoc.org.