Section 11-214.1 - Precious metal bullion and coins(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; and2. 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.