Washington's Precious Metals Tax Survived the 2026 Session — But the Fight Isn't Over

Washington ended its 40-year tax exemption on precious metals on January 1, 2026 — hurting small dealers, pushing buyers to Idaho and Oregon, and costing the state millions in lost economic activity. This year, bipartisan legislation to repeal the tax failed to receive a single hearing. The tax remains. But our next opportunity comes with the 2027 legislative session, and we’re building a stronger, more coordinated effort to finish what we started. Join us.

2026 Session Update

Where We Go From Here

Despite bipartisan sponsorship of HB 2115 and SB 5894, neither bill received a hearing this session. There was no opportunity for testimony, and the issue was not brought forward before the final budget was adopted. Washington’s tax on precious metals remains in place.

Over the past year, your Board met with legislators across both chambers, coordinated with national partners, and worked to elevate the real-world impact of this policy. We are grateful for everyone who supported this effort.

The effects of this tax are already being felt:

Customers are shifting purchases to Idaho and Oregon
Washington dealers are losing business during a strong gold and silver market
Economic activity tied to our industry is leaving the state

This is not theoretical — it is happening now.

What's Next

Our next opportunity is the 105-day session beginning January 2027. Between now and then, we are building a stronger, more coordinated statewide effort. That means more voices engaging legislators, broader dealer and customer participation, and continued education on the economic impact of this policy.

This effort is not over — but it will take all of us.

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Urgent Legislative Action – Please Contact Your State Representatives

HB 2115 has now been pre-filed in Olympia. This bill, prime sponsored by Rep. Amy Walen with Reps. Orcutt and Dufault as co-sponsors, would restore the 1985 tax exemptions on precious metals and bullion.

Our next step is critical:
We are asking every WCBA member and supporter to contact their two State House members and urge them to add their names as co-sponsors of HB 2115.

How to take action:

Find your two State House members using the District Finder:
https://app.leg.wa.gov/districtfinder
Email both representatives and ask them to co-sponsor HB 2115 restoring the bullion and precious metals tax exemptions.
You may use the sample email/letter provided by WCBA as a template, and personalize it with how this tax impacts your business, your customers, and local shows.

Your outreach, as a constituent, carries real weight. This is one of the most effective ways to support our repeal effort right now.

Help us end this madness

As of January 1, 2026, Washington State now imposes sales tax and B&O tax on precious metals and coins — ending over 40 years of tax exemption. In response, coin and bullion dealers across the state have united to form the Washington Coin & Bullion Association (WCBA).

Our mission:

To Repeal ESSB 5794 Section 105 Act 1 during the 2026 Legislative Session.

How this law affects Washingtonians

The State is making a fatal move

The state claims this will raise $64.6 million over four years, but their projections are flawed and ignore buyer behavior and lost sales to out-of-state businesses.

NOTICE

The Annual BECC Coin Show is cancelled for 2026.

Normally held the third weekend of January it was scheduled for 17-18 January. Regrettably, the recent changes to Washington State tax law means very few dealers were willing to attend.

The Boeing Employees Coin Club apologizes for any inconvenience, and we will be working hard to hold the show again in 2027.

Importance of the BECC Coin Show

Hosted by the Boeing Employees’ Coin Club, the BECC show is the second-largest regional coin show in Washington State, behind only the two annual PNNA shows.

For more than six decades, the show has been a reliable draw for:

In-state and out-of-state coin and bullion dealers
Collectors, investors, and families
First-time hobbyists introduced to numismatics

2025 Show – Actual Participation

41 dealers
148 dealer tables
33 registered dealer assistants/helpers in addition to the dealers themselves
Hundreds of attendees over the two-day event

Family-friendly programming included:

A children’s treasure hunt
Coin Collecting Merit Badges for youth, similar to PNNA shows

While attendance in 2025 was slightly impacted by construction and remodeling at Kent Commons, dealer participation remained strong and consistent with prior years.

2026 Show – Why It Was Cancelled

At the Go / No-Go decision date, only:

18 dealers
33 total tables

had committed to attend.

This represents a dramatic decline from prior years and made the event financially unviable.

Direct Cause

Dealers cited Washington’s new sales and B&O taxes on precious metals as the primary reason for not committing.

Out-of-state dealers in particular expressed that they could not:

Compete on price under the new tax structure
Justify travel, lodging, and staffing costs for a taxed marketplace

Why This Matters to Washington State

Coin shows are mobile commerce events. When costs rise, they don’t shrink—they leave the state.

The cancellation means:

Lost hotel stays, restaurant spending, and local retail activity
Lost exposure for young collectors and educational programming
Lost tax revenue from ancillary economic activity

Once long-running shows are cancelled, they are extremely difficult to bring back.

Key Takeaway for Legislators

The cancellation of the 62nd annual BECC Coin Show is not theoretical or speculative—it is an early, concrete consequence of the new tax policy. Rather than generating new revenue, the tax is already:

Reducing in-state participation
Driving commerce out of Washington
Eliminating longstanding community events

This is exactly the kind of unintended outcome that warrants prompt legislative correction.

NOTICE

A second coin show has been cancelled because of the cancellation of the 40-year old tax policy to exempt precious metals and coins from Sales Tax. The Pacific Northwest Numismatic Association (PNNA) has announced the moving of its Spring Show (historically held in Washington) to Portland, Oregon.

What we're doing to get the exemption back

Lobbyists hired April 2025

Mark Gjurasic & Chester Baldwin (Lobbyist/Attorney)

Testimony delivered

In Olympia spring 2025 by multiple dealers

$20,000 raised

as of July 2025 by 14 dealers to kickstart our efforts. Special thanks to Brian Jenner of Coin Cradle, who is our largest contributor.

Strong legislative strategy underway

Mark and Chet bring decades of experience — including Mark’s work leading the successful 1985 repeal of precious metals tax.

How you can support our cause even with the tax

Work with WCBA Dealers
Use WCBA Resources
Share Flyers
Donate to the Cause
Tell Others
Email Your Legislators
Meet With Your Lawmakers
Spread WCBA Info
Vote Intentionally

Washington Coin & Bullion Association (WCBA) Leadership

Carolyn Beko, President – Redmond Rare Coins, Kirkland
Brian Geraghty, Vice President – Northgate Rare Coins, Seattle
David Anderson, Treasurer – Goldmine, Gig Harbor
Jake Graham, Membership Director – American Coin & Vault, Spokane
Craig Rhyne, Secretary – Washington Gold Exchange, Bellevue

Meet your lobbyists

Meet Chester

Chester is a lobbyist and attorney in private practice at Baldwin Legal Group, PLLC representing clients at the Legislature and with agencies of government. He has built strong relationships with lawmakers in House and Senate Leadership and members of each caucus to facilitate the priorities of his clients. Chester’s business experience along with his degrees in Healthcare, Finance, Business Computer Information Systems, and Law make him uniquely positioned to facilitate unified solutions on a broad range of client issues. He routinely facilitates meetings with lawmakers, reviews and drafts legislation, and testifies before the Legislature.

Chester graduated from the University of Washington – Foster School of Business with Honors, earning a Bachelor of Arts degree in Finance and Business Computer Information Systems and concurrently earned a Bachelor of Science degree in Environmental Health from the University of Washington – School of Public Health and Community Medicine. After graduating, he worked as a financial analyst and healthcare consultant for Mercer Human Resource Consulting before attending Seattle University School of Law where he earned his Juris Doctorate, graduating with Honors. Chester is a member of the Washington State Bar Association and the Thurston & Pierce County Bar Associations and is also admitted to practice in Federal Court.

As a lobbyist in Olympia, Chester represents a diverse group of clients, associations, and industries dedicated to serving their members. Chester works with lawmakers, state agencies, and county and city governments to solve his clients’ issues and protect their industries from burdensome regulation and tax consequences.

Meet Mark

Mark has invested in solid, long-term working relationships with many agencies of government to include Washington State Department of Children, Youth, and Families (DCYF), Department of Social and Health Services (DSHS), Attorney General’s Office (AGO), Office of Financial Management (OFM), other agencies, legislators and elected officials beginning with Gov. Dixie Lee Ray. As a result of this past experience, Mark has the knowledge and understanding that is necessary to assist and direct clients in navigating WA State’s political system.

With his reputation as an effective lobbyist with state lawmakers on both sides of the political aisle, Mark effectively brings key people in Olympia together with his clients to promote the clients’ agenda.

Business, Fiscal, Budgetary & Tax Highlights. Under Governor Jay Inslee and Former Governor Christine Gregoire’s Administrations, Mark has worked very closely with the Governor’s staff on tax, fiscal, and budgetary issues. While Christine Gregoire was Attorney General, Mark worked with her on consumer protection and small business issues. As a result, he is able to meet with the Governor and their staff on critical issues affecting his clients. During the last election Mark and Chet also met with candidate Bob Ferguson for Governor and staff on issues important to his clients and today has the same “open door” to meet with Governor Ferguson, as we related also on page three.

Economic Development & Commerce / Highlights. Mark was appointed by Governor Ray as a member of the Department of Commerce and Economic Development Advisory Council and has been a campaign consultant to congressional and legislative races in Washington State.

Education. Attended graduate school at the University of California Los Angeles (UCLA), Anderson School of Management, studying in their Masters of Business Administration (MBA) program. Completed undergraduate work in Journalism and Advertising at the University of WA. Graduated from US Army Officer Candidate School, Fort Benning, GA as a 2nd Lieutenant.

Key Update From Our Lobbyists

Click to Read

Hello Carolyn and other WCBA Members:

I wanted to provide to you an update on meetings with lawmakers for introduction of our House (HB 2115) and Senate legislation (Draft S-3427.2/26) for the 2026 legislative session as it deals restoring the 1985 tax exemptions for the sale of precious metals and bullion, which we can place on our website.

Senate Lawmaker Update (Draft S-3427.2/26):
Sen. Marcus Riccelli (D-3), Majority Floor Leader | He indicated that he would Prime Sponsor our Senate legislation in the 2026 session
Sen. Derek Stanford (D-1), Committee Vice Chair, Operating Senate Ways & Means Committee | He is reviewing restoring the 1985 language and he has been requested to add himself as a sponsor.
Sen. Leonard Christian (R-4)| We met with him in person 12/4 at 2:30 p.m. and he indicated that he would likely be number two sponsor depending on whether Sen. Marcus Riccelli prime sponsors the bill
Sen. Chris Gildon (R-25), Ranking Member, Operating Senate Ways & Means Committee |At our meeting on 12/10 at 10:00 a.m. he has indicated that he will sign onto the bill as number 3 sponsor
Sen. Annette Cleveland (D-49), Ways & Means Committee Member | Waiting to confirm a meeting.
Sen. Adrian Cortes (D-18) | Waiting to confirm a meeting.
Sen. Manka Dhingra (D-45), Deputy Majority Leader, Senate Ways & Means Committee Member | She has been requested to be added on as she is supportive of our issue
Sen. Marko Liias (D-21) | Has been contacted and we are awaiting his response as being a co-sponsor.
Sen. John Lovick (D-44), Vice President Pro Tempore | Waiting to confirm a meeting.

House Lawmaker Update (HB 2115):
Rep. Amy Walen (D-48), House Finance Committee Member | Prime Sponsored our legislation HB 2115
Rep. Jeremie Dufault (R-15), House Rules Committee Member | Number 2 sponsor on our legislation HB 2115
Rep. Ed Orcutt (R-20), Ranking Minority Member on the House Finance Committee | Co-Sponsored our legislation HB 2115
Rep. Cyndy Jacobsen (R-25), Assistant Ranking Minority Member on House Finance Committee | Co-Sponsored our legislation HB 2115
Rep. Mari Leavitt (D-28), Deputy Majority Whip, House Appropriation Committee Member | Co-Sponsored our legislation HB 2115

We have sent out a request that our members contact their House members where they live as a constituent to co-sponsor HB 2115 and we will be doing the same for our Senate bill as soon as Sen. Marcus Riccelli signs up as the Prime Sponsor to the Senate bill which will be in the near future, as we are told by his staff, to add their names onto the legislation.

FAQ

What is ESSB5794?

– Washington Senate Bill 5794 is a bill passed by the Washington State Legislature in the 2025 session. This bill affects more than the precious metals and coin industry.

Specifically, paragraph 1, section 105 of this bill will add both a B&O tax on the gross sales, and a state and local sales tax to all precious metals and coins

– This bill took effect January 1, 2026.

How will this bill affect the industry, and subsequently the customer?

– This bill will drive revenue out of Washington to any of the other 45 states which do not tax coins or bullion.

– This bill will add a 10%+ SALES tax to our customers, ultimately making our dealers non- competitive in a market that consistently sees 1-3% margins.

– This bill will inevitably decrease the number of dealers, giving customers fewer options.

– This bill will open costumers to an increase in fraud from private party transactions.

– This bill will add burden to our law enforcement agencies.

– This bill will disincentivize investing in low margin, liquid, transferrable, tangible assets.

– This bill will hurt the core group of small and medium investors and savers who may not have the means to make other investments.

How are your local dealers in the industry responding?

– A core group of Washington coin businesses formed, on short notice, The Washington Coin and Bullion Association, or WCBA.

– Our industry leaders spent time publicly testifying, writing our legislators, and meeting with lawmakers in Olympia.

– We crowd funded, through generous donations from coin dealers (In Washington as well as Oregon and Idaho) to hire counsel.

– The WCBA legally became an entity in July of 2025.

What are the goals of WCBA?

– To provide legislative information and tools to coin and bullion dealers as well as enthusiasts in order to start a unified grassroots movement.

– To organize dealers in order to consolidate our voice.

– To repeal Paragraph 1, Section 105 of ESSB5794, and reinstate RCW 82.04.062.

– To introduce a standalone bill to permanently exclude our industry from unfair Sales, Use and B&O taxes.

Who can support WCBA?

– WCBA is open to all dealers and consumers with the common goal of repealing this ill- advised legislation.

– Dealers who are in good standing will have a membership packet and fliers provided to distribute to consumers.

Who represents WCBA?

– We have retained Lobby Washington (Chester Baldwin and Mark Gjurasic).

– Mark Gjurasic represented a previous Association under the name Washington Coin and Bullion Dealers Association in the 1980’s. He was fundamental in winning the sales tax preference for our industry in 1985, which lasted 40 years.

– Please visit https://lobbywashington.com for more information about our legal team

How did this bill pass?

– In the wake of record budget increases, the Washington Legislature looked to eliminate outdated tax preferences’ to make the budget.

– The coin and bullion industry came into the crosshairs, as the taxes were stated to be needed for schools and healthcare’ ~ both of which fall into the state’s general fund.

– JLARC (Joint Legislative Audit and Review Committee) falsely generated an estimated revenue stream of $170m in taxes through 2035.

– An organized group of actors, who had ample notice, were given an unfair majority of time to give flawed public testimony.

– Standard rules of notice were altered, and a few of our dealers were given 60 seconds to testify.

– Governor Bob Fergusson had the ability to line veto Paragraph 1, Section 105 of this bill, but elected to let it remain.

Who sponsored this bill?

– Jesse Salomon (District 32)

– Liz Lovelett (District 40)

– Emily Alvarado (District 34)

– Jessica Bateman (District 22)

– Senator Manka Dhingra (District 45)

– Noel Frame (District 36)

– Bob Hasegawa (District 11)

– T’wina Nobles (District 28)

– Marcus Riccelli (District 3)

– Yasmin Trudeau (District 27)

– Lisa Wellman (District 41)

What can YOU do as a consumer or investor?

– Conduct your business with a dealer currently in good standing with WCBA.

– Utilize the tools provided by WCBA or your local WCBA member dealer.

– Distribute our association’s information and Action Flyers.

– Financially contribute to WCBA, until our annual $70,000 goal is met.

– Inform others possibly interested.

– Use a template provided, or write your own email to your legislators.

– Vote with intention.

What can YOU do as a dealer?

– Contact WCBA about setting up a meeting between your local legislators at your place of business.

– Distribute our association’s information and Action Flyers.

– Financially contribute to WCBA, until our annual $70,000 goal is met.

– Distribute as much information to your network as possible.

Find your local WCBA Dealer

Redmond Rare Coins

12411 NE 124th St, Kirkland, WA 98034

Coin Cradle

2810 W Kennewick Ave # E, Kennewick, WA 99336

Northgate Rare Coin Shop

11319 Pinehurst Way NE, Seattle, WA 98125

Goldmine Coins & Relics

3107 56th St, Gig Harbor, WA 98335

Washington Gold Exchange

23515 NE Novelty Hill Road, Unit 215, Redmond, WA 98053

Bellevue Rare Coins

321 Bellevue Way NE, Bellevue, WA 98004

Tacoma Mall Coin & Stamp

5225 Tacoma Mall Blvd E101, Tacoma, WA 98409

Coins & Auctions Since 1994

12014 SE Mill Plain Blvd #220B, Vancouver, WA 98684

Vancouver Rare Coins

110 W 9th St, Vancouver, WA 98660

American Coin & Vault

5523 N Wall St, Spokane, WA 99205

Coin Corner

9215 E Trent Ave, Spokane, WA 99206

A-1 Coin Co

3190 N Division St, Spokane, WA 99207

Red Line Coins

641 W Garland Ave, Spokane, WA 99205

Eastern Washington Coin Co.

2935 E 29th Ave, Spokane, WA 99223

Tri‑City Vault

1340 Jadwin Ave Suite B, Richland, WA 99354

Ron’s Coin & Collectibles

6 N 3rd St, Yakima, WA 98901

Donation

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Mail A Check To Donate

Mail checks payable to WCBA
WCBA c/o David Anderson
Goldmine
3107 56th Street
Gig Harbor, WA 98335

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