NCBA-Led Coalition Preserves Colorado Sales-Tax Exemption for Coins and Precious Metals

The National Coin & Bullion Association (NCBA), working alongside dealers, collectors, and industry stakeholders across Colorado, successfully campaigned to preserve Colorado’s longstanding sales-tax exemption on coins, currency, and precious-metals bullion through the 2026 legislative session.

The statewide advocacy effort began in late February after industry participants identified language in Colorado House Bill 26-1289 that threatened to eliminate the exemption beginning January 1, 2027. Specifically, Section 17 of the legislation proposed repealing the exemption that has supported Colorado’s numismatic and precious-metals marketplace for decades.

In response, industry leaders immediately began warning that a repeal would have significant economic consequences for Colorado coin dealers, investors, collectors, regional coin shows, and related hospitality and tourism sectors tied to numismatic events. NCBA rapidly coordinated a Colorado-based coalition during the National Money Show, where NCBA executive director David Crenshaw met with local industry participants, including Tom H. and Ashley Sandoval of Erie Gold and Silver. Ashley Sandoval subsequently agreed to lead the in-state advocacy effort.

The coalition quickly expanded to include dealers and stakeholders from across Colorado, including Cornerstone Bullion president Chad Roach and other long-time industry members concerned about the bill’s economic impact. NCBA provided coalition members with legislative analyses, testimony templates, economic-impact materials, and examples from other states that had faced similar repeal proposals to help build their case against the repeal. Ahead of the March 9 House Finance Committee hearing, NCBA issued a statewide legislative alert, encouraging Colorado members to contact legislators, submit written testimony, and participate directly in the hearing process.

As the campaign intensified, coalition members worked alongside lobbyists, fiscal analysts, and legislative staff to challenge legislators’ revenue assumptions tied to the repeal proposal and provide countervailing economic data. Coalition efforts focused on demonstrating the broader downstream impacts a repeal would have on employment, state and local tax revenue, retail activity, conventions, and tourism connected to Colorado’s numismatic marketplace.

On March 23, coalition leaders achieved a major breakthrough when Section 17 was removed from HB 26-1289 during the House Finance Committee hearing. The amendment removing the repeal language was adopted unanimously, preserving Colorado’s sales-tax exemption for numismatic products and precious metals. Throughout the remainder of the legislative session, NCBA and coalition partners remained actively engaged to ensure the amendment removing Section 17 was sustained through final passage, when Governor Jared Polis signed the amended bill into law on June 3, 2026.

Coalition participants credit the success of the campaign to rapid and coordinated grassroots engagement throughout the numismatic community. Dealers, collectors, investors, and business owners participated in legislative outreach, testimony, and direct meetings with lawmakers in a compressed timeframe that helped elevate awareness of the exemption’s economic importance.

NCBA leaders consider the outcome a significant victory for the industry while emphasizing the importance of continued legislative vigilance. The Colorado Professional Numismatists Association (CPNA), which played a central role in coordinating in-state participation and dealer engagement, confirmed it will continue monitoring future legislative activity involving the exemption.

NCBA leaders also describe the Colorado effort as a model for future state-level advocacy campaigns, demonstrating the effectiveness of combining grassroots mobilization, coordinated industry messaging, professional legislative engagement, and rapid coalition building in defense of the numismatic marketplace.