Are precious metals sales taxable?

This exemption does not include gold, silver or numismatic coins, or gold, silver or platinum ingots in the form of jewelry or other decorative items. Check the status of your shipping address below to find out if you will need to pay sales tax on your order. Precious metals are exempt from sales tax in many states, however, every state in the U.S. The U.S.

government has its own rules and regulations when it comes to collecting sales tax on precious metals. Texas is one of many states that do not tax the sale of gold, silver or platinum numismatic coins or ingots. That means buyers don't have to pay the tax if precious metals are purchased at a Texas precious metals dealer, either online or by phone, and are not sent to a state that has a sales tax. In this situation, sales tax is not applicable since the precious metals did not leave the state of Texas.

There is no all-encompassing sales tax in the United States. The 50 individual states have their own tax laws and their own sales tax rates. These can differ greatly from state to state. In some states there is no sales tax on precious metals, while in others you'll pay about an additional 10% for every purchase you make.

Many states charge sales taxes for the purchase of precious metals and other items that we sell on our website. Taxes may vary depending on the type of metal, the dollar amount, and even the premium charged for an item. The exact rules are quite complex, so we use the largest provider of state tax information in the country to determine the taxes due for each order, based on all of these criteria.