A Tax That Penalizes People Who Save On July 1, Maryland implemented a policy that imposes a 6% sales tax on all retail gold purchases—regardless of size. Previously, transactions over $1,000 were exempt from state sales tax, a recognition that larger purchases were investments rather than mere consumer spending. That exemption has now been eliminated. Under the new rules, anyone buying gold—whether it’s a single coin or a more substantial bullion order—must pay the tax at the point of sale. For example, a $5,000 purchase will now cost an additional $300 in tax. A $10,000 purchase will require buyers to hand over an extra $600 to the state treasury. To put this in perspective, consider what happens if you were…
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