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Frequently Asked Questions
about Currency and Bullion

Back to Sales and Use Tax FAQs


  • Summary

    Beginning April 1, 2014, the sale of currency or bullion in this state is exempt from sales and use tax. See Neb. Rev. Stat. § 77-2704.66 (Laws 2014, LB 867).

  • What is the definition of currency?

    Currency is defined as legal tender, including coins and currency, issued by the U.S. government and by foreign governments. Currency includes coins made of gold, silver, or other metals and currency made of paper. Currency does not include virtual currency or bitcoins.

  • Is currency subject to sales and use tax? 

    No, beginning April 1, 2014, sales of currency that is or has been used as legal tender are not subject to sales or use tax.

  • Are coins sold by the U.S. Mint subject to sales and use tax?

    No, coins that are legal tender or are made of gold, silver, platinum, palladium, or a combination of these metals are exempt from sales and use taxes.

  • Are mint and proof sets sold by the U.S. Mint subject to sales and use tax?

    No. The sale of a mint or proof set sold by the U.S. Mint is not subject to sales or use tax because it is a sale of currency. The sale is not subject to sales or use tax, even if the sale of the mint or proof set includes a display case.

  • Are commemorative coins or medallions that are not considered currency subject to sales or use tax?

    Yes, unless the coin or medallion is made of gold, silver, platinum, palladium, or a combination of these metals, and the value of the coin is based on its metallic content. A reasonable markup or discount does not render the sale subject to sales or use tax.

  • Is bullion subject to sales and use tax? 

    Beginning April 1, 2014, sales of bullion made of gold, silver, platinum, palladium, or a combination of these metals, are not subject to sales or use tax.

    Bullion is defined as bars, ingots, or commemorative medallions, for which the value of the metal depends on its content and not its form.

    Bullion does not include jewelry, nor bars, ingots, or commemorative medallions made of metals other than gold, silver, platinum, palladium, or a combination of these metals.

  • Is there a minimum purchase price for purposes of qualifying for the sales and use tax exemption on bullion? 

    No. There is no minimum purchase price for purposes of qualifying for the sales tax exemption on bullion. All sales of bullion as defined above are exempt from sales and use tax.  

  • Is jewelry made of gold, silver, platinum, or palladium subject to sales and use tax?

    Yes. Sales of jewelry are subject to sales tax even if the jewelry is made of gold, silver, platinum, palladium, or a combination of these metals.

  • If currency or bullion is sold in a display case or in a framed collection, is the sale subject to sales and use tax? 

    The total amount charged for a display case, framed collection, or other item may be subject to sales tax, even if the display or collection includes medallions or currency that could have been separately purchased tax‑exempt.

    For additional information, please review REG‑1‑108, Bundled Transactions, or contact the Department at 800‑742‑7474 (NE and IA) or 402‑471‑5729.


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