1. (a) In this section:

   1. (1) “precious metal bullion or coins” means:

      1. (i) any precious metal that has gone through a refining process and is in a state or condition such that its value depends on its precious metal content and not on its form; or

      2. (ii) except as provided in paragraph (2) of this subsection, monetized bullion, coins, or other forms of money that:

         1. 1. are manufactured from precious metals; and
         2. 2. are or have in the past been used as a medium of exchange under the laws of the State, the United States, or a foreign nation; and
   2. (2) “precious metal bullion or coins” does not include jewelry or a work of art made of precious metal bullion or coins.

2. (b) The sales and use tax does not apply to a sale of precious metal bullion or coins if:

   1. (1) the sale price is greater than $1,000; and
   2. (2) the sale occurs at the Baltimore Convention Center.

Added by Acts 1990, c. 584. Amended by Acts 1991, c. 55, § 1; Acts 1995, c. 623, § 1, eff. July 1, 1995; Acts 2025, c. 604, § 4, eff. July 1, 2025.