1. United States
2. Wash.
3. Letter

I am writing to express my strong opposition to the recently enacted tax on the sale of precious metals in Washington State. This policy creates a structural inconsistency in our tax system and produces economic consequences that I believe were not fully considered.   Taxing the purchase of physical gold and silver is functionally equivalent to taxing the purchase of stocks, bonds, or other investment vehicles. All of these assets serve as stores of value and investment instruments. Washington does not impose sales tax on the purchase of equities, and applying a tax to precious metals creates an arbitrary distinction that penalizes one class of investors while exempting another.   This tax also has immediate and predictable economic effects on Washington businesses. Precious‑metal dealers operate on thin margins, and adding sales tax to their products pushes buyers to neighboring states. I recently traveled to Portland, Oregon and purchased approximately $25,000 in gold and silver with zero tax. I would have preferred to support a local Washington business, but the tax differential made that impossible to justify. That $25,000 in commerce left Washington entirely, and it will continue to leave as long as this policy remains in place.   The result is straightforward: Washington coin and bullion dealers will lose business, some will close, and the state will collect less revenue overall as transactions migrate to Oregon and online out‑of‑state sellers. This is a net loss for local businesses, for employment, and for the state’s tax base.   I urge you to reconsider and repeal this tax. Aligning precious‑metal treatment with other investment assets is the consistent and economically rational approach. Washington should not be incentivizing residents to take their business elsewhere.   Thank you for your time and attention to this matter.