The Maryland General Assembly unanimously passed Senate Bill 309 (SB 309), landmark legislation that expands the state’s sales- and use-tax exemption for precious-metal bullion and coins, marking a significant development for the numismatic and bullion community, and sent it to Governor Wes Moore for his approval.

The bill passed both chambers unanimously (the Senate vote was 42–0, and the House, 133–0). The Senate concurred with House amendments before transmitting it to the governor.

Maryland’s governor had 30 days to sign or veto the bill once it was presented. If no action is taken within that period, SB 309 automatically becomes law without a signature. If vetoed, the General Assembly may override it with a three-fifths vote in both chambers. Industry stakeholders fully expect the bill to be signed, becoming law once the process is complete, effective July 1, 2026.

The legislation significantly broadens Maryland’s existing, limited exemption by removing location-based restrictions that severely constrained market activity.

When originally introduced, SB 309 proposed eliminating both a $1,000 minimum purchase threshold and a requirement that transactions occur exclusively at the Baltimore Convention Center to qualify.

The final enacted version retains the $1,000 threshold due to a House amendment, but the location-based restriction enacted in 2025  is removed. This change allows qualifying transactions to occur statewide rather than being confined to convention-center sales. Passage of SB 309 is widely viewed as a substantial improvement, enhancing accessibility for collectors, investors, and dealers across the state.

Strong in-person and written testimony from trade organizations, grassroots advocates, and industry partners during committee hearings emphasized several anticipated benefits:

> Improved competitiveness for Maryland-based coin shops and bullion dealers.

> Retention of in-state transactions, reducing the incentive for consumers to purchase across state lines.

> Support for small businesses and jobs in a highly price-sensitive market.

> Increased economic activity, including ancillary taxable sales tied to numismatic commerce and events.

The legislation also modernizes Maryland’s tax policy by recognizing precious metals as investment assets, aligning their treatment more closely with other financial instruments that are not subject to sales tax..

The enacted version of SB 309 is recognized as a step forward, which industry leaders view as a foundation for future efforts to achieve a fully modernized, comprehensive statewide exemption.

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