(a) In this section: (1) 'precious metal bullion or coins' means: (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 (ii) except as provided in paragraph (2) of this subsection, monetized bullion, coins, or other forms of money that: 1. are manufactured from precious metals; and 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) 'precious metal bullion or coins' does not include jewelry or a work of art made of precious metal bullion or coins. (b) The sales and use tax does not apply to a sale of precious metal bullion or coins if the sale price is greater than $1,000.
Maryland Legal Code