Idaho Laws on Gold & Silver

About Idaho

Admitted to the union in 1890, Idaho is home to about one and a half million people. The 39th most populated state in the union and the 14th largest in area, Idaho is nicknamed the Gem State. Idaho has taken modest steps to cultivate an environment more conducive to sound money ownership and use.

Last Updated: 11/25

Latest In-State Developments

In 2025, Speaker Mike Moyle led the charge to pass HB 40, the largest tax cut in state history. Included in this legislation was an exemption for capital gains tax on sales of precious metals. Additionally, HB 177 was signed into law in 2025, which symbolically reaffirmed gold and silver's status as legal tender as prescribed by the U.S. Constitution in Article I, Section 10.

The Sound Money Defense League is working closely with legislators and in-state allies to provide avenues of escape from the Federal Reserve's damaging inflationary monetary policy.

What are the Laws on Gold & Silver in Idaho?

• Idaho State Sales Tax Laws
• Idaho Capital Gains Laws
• Idaho Gold and Silver Money Status
• Idaho Depository Laws
• Idaho State Reserves Laws
• Idaho Government Pension Funds

Idaho State Sales Tax Laws?

Idaho has started the process of freeing gold and silver from bureaucratic shackles.

According to the Idaho Statute 63-3622V, "the sale of precious metal bullion or the sale of monetized bullion," is exempt from sales taxation.

The statute defines "precious metal bullion" as "any elementary precious metal which has been put through a process of smelting or refining including, but not limited to, gold, silver, platinum, rhodium, and chromium, and which is in such state or condition that its value depends upon its contents and not upon its form."

"Monetized bullion" is defined as "coins or other forms of money manufactured from gold, silver, or other metals and heretofore, now, or hereafter used as a medium of exchange under the laws of this state, the United States, or any foreign nation, but shall not include coins or money sold to be manufactured into jewelry or works of art."

For more information on rolling back sales tax on constitutional money, click here.

Idaho Capital Gains Tax?

In 2025, Idaho became the 14th state to end capital gains taxes on gold and silver with the passage of House Bill 40. This bill included the largest tax cut in state history and was approved by an overwhelming majority in both the House and the Senate. 

By ending both sales and capital gains taxes on gold and silver, Idaho has removed the two primary points of friction imposed by the state that discourage individuals to readopt their own gold standard. Federal taxes on sales of metals still exist.

For more information on capital gains taxation of precious metals, click here.

Gold and Silver Recognized as Money in Idaho?

The United States Constitution states in Article I, Section 10, "No state shall...make anything Thing but gold and silver Coin a Tender in Payment of Debts."

Idaho House Bill 177 declared that gold and silver are Constitutional legal tender and that no person or entity can compel another person or entity to tender or accept gold or silver coin or specie. This bill was signed into law on March 19th, 2025.

Idaho Depository Laws?

Idaho law does not currently allow for a state bullion depository.

Texas is championing the state depository cause and other states will likely follow suit. In June of 2015, Texas Governor Greg Abbott signed House Bill 483 into law.

Authored by Representative Giovanni Capriglione (R-Southlake), this bill allows for "the establishment and administration of a state bullion depository."

According to the official Texas Depository website, House Bill 483 "allows for the nation's first state bullion depository to be established in Texas under the supervision of the state's comptroller's office."

Upon signing the bill, Governor Greg Abbott said "with the passage of this bill, the Texas Bullion Depository will become the first state-level facility of its kind in the nation, increasing the security and stability of our gold reserves and keeping taxpayer funds from leaving Texas to pay for fees to store gold in facilities outside our state."

Idaho Holding Reserves in Gold and Silver?

Idaho law currently allows for private depositories to operate without invasive or ornerous restrictions. Money Metals Depository offers these services in Idaho.

Is Idaho Holding Physical Gold & Silver in Government Pension Funds?

Millions of Americans will rely on pensions once they've reached the age of retirement. Pension fund managers have a fiduciary duty to safeguard funds against foreseeable risks.

With the practices of today's Federal Reserve, there is no risk more foreseeable than inflation! But with very few exceptions, pension money managers are not fulfilling their duty to protect against this significant risk by investing in assets that are specifically suited to defend against the perpetual decline of the dollar's purchasing power. Chief among these assets are physical gold and silver, the most reliable inflation hedges from time immemorial.

Tens of millions of Americans and their employers pour money into pension plans each month, counting on those funds to grow and be there when needed at retirement.

But a time bomb awaits. The bulk of U.S. pension funds are dangerously underfunded, and the assets are often invested in securities that have bleak prospects for providing income that keeps up with a general decline in purchasing power. In the case of underfunded government pensions, higher taxes invariably follow combined with potential default on obligations to retired workers.

Unfortunately, Idaho's government pension funds do not appear to hold ANY assets in physical gold and silver.

Texas gives states an example to emulate. The Texas Teacher Retirement Fund and the University of Texas own nearly $1 billion in physical gold. As a non-correlated asset to bonds, stocks, and other paper-based investments, precious metals are key to true diversification.

For more information on pension funds, click here.

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