does your local coin store charge sales tax on metals?

[kidman232]

do your local shops charge sales tax? if so, how do you buy coins from them. i mean an oz of gold tax is going to be well over $100. maybe i am just lost

[shinnosuke]

In Texas there is no sales tax if the purchase totals $1,000 or more. To avoid confusion, I mean the amount paid in Federal Reserve Hiney Wipes, not the face value of the coins, must be $1,000 or more.

[Market Harmony]

No sales tax on coin and bullion in PA, period

But, there is sales tax on paper currency sold above face value

[mtalbot_ca]

In Quebec, no sales tax on anything .999 purity or mint products, all others are taxed (junk 80%, numis pieces etc...)

[henrysmedford]

Time to move. We have no sales tax at all!!!!!!! They get you in other ways.


See http://preciousmetals.wikia.com/wiki/Bullion_Sales_Tax for list of states that have a tax exemption for bullion purchases.

[knibloe]

Sales tax here in NY is 8%. It sucks. I rarely buy anything here becasue of it.

I would like to see the same map showing states with no property tax.

[Country]

5% here in Virginia. That's why I like to buy from you guys here on RealCent.

[ZenOps]

Depends on local laws.

In Canada, Nickel and Palladium are taxable. Silver, Gold, and Platinum in bullion are not taxable. Local provincial taxes may also apply.

Its pretty obvious the Canadian government does not want people selling and buying nickel, but will freely allow gold and silver. Conspiracy?

Its also illegal to export more than $100 worth of pennies or nickels from the US into Canada, but you can bring as much gold and silver as long as you have the documentation. Double conspiracy.

Not too sure about copper really. Salted peanuts are taxable in Canada, but plain peanuts are not.

[marine70]

Not taxable in Illinois Yet. Everything else is taxed.

[AGgressive Metal]

They tax bullion in Ohio and Kentucky. Its horrible.

[pennypanner]

My LCS doesn't charge tax if you pay in FRNs.

[henrysmedford]

My LCS doesn't charge tax if you pay in FRNs.

[blackrabbit]

When I bought some stuff here in California at a local shop no tax was charged. I think he just factors it into the price or since I paid in cash he just avoided it.

[highroller4321]

All depends on the state.

Oregon,Iowa, Minnesota, South Dakota,Pennsylvania all do NOT charge sales taxes on coins and bullions. There are more on that list but thats just what I know of off the top of my head.

[NHsorter]

Salted peanuts are taxable in Canada, but plain peanuts are not.

Wow, so I guess that the US is not alone when it come to ridiculous BS. Good to know.

[RichardPenny43]

Not taxable in Illinois Yet. Everything else is taxed.

That's no lie

[creshka46]

There's no tax in Washington State. But I don't buy at my LCS. Why should I when there's all these great people right here on RealCent?!

[kidman232]

i might have to start talking to the owners and see about buys under the table or something

[Sheba]

All depends on the state.

Oregon,Iowa, Minnesota, South Dakota,Pennsylvania all do NOT charge sales taxes on coins and bullions. There are more on that list but thats just what I know of off the top of my head.

LCS does not charge anything beyond cost of what is being purchased. No tax just as 'highroller' said. That's a nice feeling when I purchase something There is a tax on most everything else ... even a fast food $1 cheeseburger

[Klark Cent]

no tax in arizona

[Silver Addict]

I haven't been to the LCS in a couple years, but when i did go, i was never charged tax. This is in Ohio so YMMV.

[Matt B]

I'm in SW Ohio and was buying mostly in Greater Cincinnati area until maybe 18 months ago when all but one LCS's started charging tax in Ohio and Kentucky. Not sure what happened but suspect "the man" came down on someone. There's still one left that doesn't charge tax for cash purchases only. Result? I don't buy local anymore.

[Engineer]

I live in a state with a sales tax on PMs, but the LCS either builds it into the price or doesn't charge it. When he names a price on something, it's the out the door price.

[shinnosuke]

I live in a state with a sales tax on PMS, but the LCS either builds it into the price or doesn't charge it. When he names a price on something, it's the out the door price.

For men there's always been a survival tax on pre-menstrual syndrome.

[doug]

No tax around this area of Michigan on coins or bullion. I think it covers the whole state.

Doug