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Washington State Targets Savers with New Sales Tax on Gold and Silver, Effective January 1st
Washington State Targets Savers with New Sales Tax on Gold and Silver, Effective January 1st
Sound Money Defense League working to restore the longstanding sales tax exemption
OLYMPIA, WA / ACCESS Newswire / January 2, 2026 / Yesterday, Washington state began penalizing citizens for protecting their savings in precious metals, imposing a sales tax on all new purchases.
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The state legislature repealed the longstanding exemption established in 1985, effective January 1, 2026, adding up to 10 percent in sales taxes (depending on where in the state the purchase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.
Sound Money Defense League
The Sound Money Defense League is a non-partisan public policy group working nationally to restore sound money at the state and federal level. Founded in 2014, the Sound Money Defense League works with allies in elective office to introduce legislation to remove taxation on gold and silver, empower state treasurers to invest state funds in gold, audit the nation's gold reserves, auditing the private bank cartel that has been delegated government power (known as the Federal Reserve System), and otherwise support recognition and use of sound money.
Contact:
[email protected]
SOURCE: Sound Money Defense League
View the original press release on ACCESS Newswire
L.Côte--SMC
