Transactional Gold

Tennessee Eliminates Sales Tax on Coins and Bullion Investments

Written by Transactional Gold Team | May 29, 2022 1:15:00 PM

In a major victory for sound money advocates, Tennessee Governor Bill Lee has signed legislation fully repealing sales tax on the purchase of gold and silver. This move makes Tennessee the 42nd state to eliminate such taxes, allowing residents to acquire precious metals without the added financial burden. Supporters argue that removing the tax encourages financial stability, protects against inflation, and aligns with the constitutional principle that gold and silver are money. Read on to explore the implications of this decision and why more states are following suit.