Support Nevada’s Coin & Bullion Tax Exemption

The National Coin & Bullion Association (NCBA) is collaborating with a coalition of Nevada coin business owners, collectors, and investors, led by Allen Rowe of Northern Nevada Coin in Carson City, to advocate for a legislative change that would replace the current limited sales and use tax exemption on bullion coins with a full exemption for currency and precious metals bullion in Nevada.

Assembly Bill 359, introduced on March 4, 2025, proposes to exempt certain coin, currency, and bullion sales from sales and use taxes, pending voter approval. The coalition hired lobbyist Ron Knecht, who secured Assembly members Danielle Gallant, Bert Gurr, and Ken Gray as primary sponsors. Assembly members Richard DeLong, Brian Hibbetts, and Philip O’Neill are listed as co-sponsors.

The bill has been referred to the Assembly Revenue Committee, which will play a pivotal role in advancing the bill. A public hearing is scheduled for Thursday, March 20, 2025, at 4:00 PM Pacific Time in Room 4100 of the Legislative Building, 401 South Carson Street, Carson City, NV, with a videoconference option available in Room 1 of the Nevada Legislature Hearing Rooms, 7120 Amigo Street, Las Vegas, NV. Dealers, collectors, and investors are strongly encouraged to attend and voice their support. Your presence and opinion can make a significant difference in advancing this important legislation.

Key Points of this legislation and the reason for it.

• Competitiveness:
  • Forty-six other states have exemptions for coins, currency, and bullion, including Nevada’s neighboring states—Arizona, California, Idaho, Oregon, and Utah.
  • Maine has a similar bill to eliminate sales tax on coins and bullion under consideration this session.
  • Without an exemption, Nevada businesses struggle to compete with out-of-state companies. As a Nevada resident, I want to support businesses in my community.
• Economic Development:
  • Nevada coin dealers contribute significantly to state and local economies through business, payroll, and property taxes. They also purchase equipment, supplies, and services.
  • With an exemption, Nevada dealers’ sales volumes will rise, leading to more job creation and higher tax revenue.
  • Major coin shows, such as the American Numismatic Association Worlds’ Fair of Money—which draws 8,000 to 10,000 attendees from around the world—are unlikely to choose Nevada for their events if attending dealers are required to charge sales tax. These multi-day shows (typically lasting 3–5 days) attract thousands of attendees and their families, generating substantial hospitality jobs, sales, and sales-tax revenue.
• Investments and Fairness:
  • Coins and bullion are legal tender, not consumer goods, and should not be taxed as such.
  • Investment items like coins and bullion are already subject to capital gains taxes when sold. Imposing sales tax on these items results in double taxation.
  • Sales tax on coins and bullion disproportionately affects small investors, who don’t have as many options to purchase elsewhere as the wealthy and large companies.

Here is how you can help!

Please join us in emailing key committee members. Here is a letter to start with – please adjust it as you see fit.

Subject: Support Assembly Bill 359 for Coins, Currency, and Bullion Tax Exemption!

I am writing to express my strong support for the sales-tax exemption on coins, currency, and bullion outlined in Assembly Bill 359. As a constituent and [business owner in/resident of] Nevada, I believe this exemption is vital for our state’s economic growth and competitiveness.

[Personalize this section with your own experiences or reasons for supporting the exemption. You can reference the key points above.]

Your support for Assembly Bill 359 will help level the playing field for Nevada businesses and investors and ensure our state remains competitive with neighboring states that already have such an exemption.

I urge you to support the coin and precious-metals bullion sales-tax exemption outlined in Assembly Bill 359. Thank you for considering my request.

Sincerely, [Your Name]

[Your Business Name (if applicable)]

[Your Address]

[Your Contact Information]

Alternatively, you can share your opinion on Assembly Bill 359 online by visiting the Nevada Legislature’s Public Opinions page. (https://www.leg.state.nv.us/App/NELIS/REL/83rd2025/Opinion/OpinionReports) From the ‘Share Your Opinion on a Bill or Resolution’ dropdown menu, start typing ‘AB359’ (or scroll down really far).  You should see “AB359 – Proposes to exempt sales of certain coins, currency and bullion from sales and use taxes and analogous taxes upon approval by the voters. (BDR 32-147)” and click its name. Select the “Share Opinion” button and complete the form. Comments are limited to 2000 characters.  You can also click here to reach the Bill’s Overview page, then click the ‘Opinion’ button at the upper-left corner to reach the same form.

Here is the Assembly Revenue Committee’s Contact Information

Shea Backus – Chair shea.backus@asm.state.nv.us (702) 466-5495

Venicia Considine – Vice Chair venicia.considine@asm.state.nv.us (702) 570-0049

Reuben D’Silva reuben.dsilva@asm.state.nv.us (775) 684-8583

Tanya Flanagan tanya.flanagan@asm.state.nv.us (775) 684-8587

Danielle Gallant danielle.gallant@asm.state.nv.us (725) 272-7798

Heather Goulding heather.goulding@asm.state.nv.us (775) 430-9216

Ken Gray ken.gray@asm.state.nv.us (775) 684-8843

Gregory T. Hafen II gregory.hafen@asm.state.nv.us (775) 727-1629

Duy Nguyen duy.nguyen@asm.state.nv.us (725) 277-1570

PK O’Neill pk.oneill@asm.state.nv.us (775) 741-8309

Erica Roth erica.roth@asm.state.nv.us (775) 684-8559