2010 Maryland Code
TAX - GENERAL
TITLE 11 - SALES AND USE TAX
Subtitle 2 - Exemptions
Section 11-214.1 - Precious metal bullion and coins.

§ 11-214.1. Precious metal bullion and coins.
 

(a)  Definitions.- In this section: 

(1) "precious metal bullion or coins" means: 

(i) any precious metal that has gone through a refining process and is in a state or condition such that its value depends on its precious metal content and not on its form; or 

(ii) except as provided in paragraph (2) of this subsection, monetized bullion, coins, or other forms of money that: 

1. are manufactured from precious metals; and 

2. are or have in the past been used as a medium of exchange under the laws of the State, the United States, or a foreign nation; and 

(2) "precious metal bullion or coins" does not include jewelry or a work of art made of precious metal bullion or coins. 

(b)  Exemption.- The sales and use tax does not apply to a sale of precious metal bullion or coins if the sale price is greater than $1,000. 
 

[1990, ch. 584; 1991, ch. 55, § 1; 1995, ch. 623.]