Bullion Coin Collectors Site

How Uncle Sam is going to act when you buy bullion coins...
Sales tax can add considerably to the cost of bullion coins. You should know the tax status of bullion coins in your state. In most states, you can avoid sales tax in one of three ways: either spend a lot (over $500 or $1,000 typically), order through the mail (or Internet), or through a private individual. Beware of dealers that do not charge sales tax; if they are required to collect sales tax but do not, they are likely cheating the government, so what would prevent them from cheating you?

It is my understanding that dealers at coin shows are required to collect sales tax for the state the show is in, regardless of whether or not the dealer is located in that state. However, I could be incorrect (and the laws vary by state), as I don't recall seeing dealers charge sales tax for bullion purchases at coin shows.

Be aware that this information is accurate to the best of my knowledge. However, not being a lawyer, and not having seen the laws, I can't guarantee the accuracy of this information (if you are a dealer, you have to get information from your state).

StateRule
CaliforniaTax on all bullion purchases under $1,000 (CA gold not taxed)
FloridaTax on all bullion purchases under $500
MassachusettsTax on all bullion purchases under $1,000
New YorkTax on all bullion purchases under $1,000
TexasTax on all bullion purchases under $1,000

This page last updated November 19, 1999.

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