Death and Taxes

On July 1, 2025, the Maryland legislature removed the sales tax exemption for coins and bullion. Meanwhile Delaware, Virginia, Pennsylvania, and West Virginia all maintain their tax exemptions.

While this new tax will have little impact for smaller transactions, the levy presents a problem for some purchases, particularly bullion, where a 6% tax is unsustainable for buyers and sellers.

But there is almost nowhere in Maryland that is more than a few minutes from another state. Evidently the legislature forgot about that.

We are locating premises near New Church, VA and Selbyville, DE where we can conduct higher value tax-free sales by appointment.

Virginia and Delaware transactions will be through the Broken Cabinet, the partner business of the Lower Shore Coin Exchange. The Broken Cabinet is under the same ownership as LSCEX. It is based in Texas and has operated across the South for a decade.

Maryland's revenue from this misguided tax will be small, and it will cause a reduction in economic activity as business moves elsewhere. Coin and bullion dealers are working to repeal the law, and there is cause for optimism when lawmakers meet again.