Each state has its own definition of bullion, precious metals, etc. For purposes of the chart, bullion will follow the Texas definition in 34 TAC §3.336: (a) Definitions. The following words and terms, when used in this section, shall have the following meanings, unless the context clearly indicates otherwise. (1) Bullion--Gold, silver, or platinum that is formed into uniform shapes and quantities such as ingots, bars, or plates, with uniform content and purity, as are suitable for or customarily used in the purchase, sale, storage, transfer, and delivery of bulk or wholesale transactions in gold, silver, or platinum. (2) Currency--The coin and paper money of the United States or another country that is designated as legal tender and circulates and is customarily used and accepted as a medium of exchange in the country of issuance. (3) Numismatic coin--A coin that is not used as a medium of exchange or whose price depends more on characteristics such as beauty, rarity, and condition than on its metal content or its face value. (b) Taxability of sales of gold, silver, or numismatic coins, and gold, silver, or platinum bullion. Effective October 1, 2013, the sale of gold, silver, or numismatic coins or of gold, silver, or platinum bullion is exempt from Texas sales and use tax. (1) This exemption does not include gold, silver, or numismatic coins, or gold, silver, or platinum bullion in the form of jewelry or other items of adornment. (2) The purchase of a commodity contract for items exempt under this subsection is not a taxable transaction. (c) Taxability of currency exchanges. The exchange of currency for another form of currency based on an exchange rate is not a taxable transaction if the invoice, receipt, billing, sales slip or ticket, or contract issued to the customer identifies the exchange rate. (d) Taxability of the sale of certain paper money. The sale of paper money that is not currency is taxable as the sale of tangible personal property. Sales or use tax is due on the total sales price of the paper money. (e) Use of gold, silver, or numismatic coins or gold, silver, or platinum bullion to acquire taxable items. Persons who use gold, silver, or numismatic coins or gold, silver, or platinum bullion to acquire taxable items owe tax on the transaction based on the sales price of the taxable item.