Sales Tax Law:

Section 11-214.1 of the Maryland Tax Code, “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.”

“Precious metals bullion or coins” is defined as “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.”

NPMEX is required to collect tax on some items shipping to Maryland, however sales tax will not be charged for Gold, Silver, Platinum, or Palladium bullion items if the total amount of a single sales transaction for these items is $1,000 or more as qualifying purchases are exempt from sales tax when shipping to a Maryland address.

The State of Maryland requires the collection of sales taxes on certain products sold by NPMEX and delivered to a Maryland address. These taxes must be collected on (1) copper products; (2) any single sales transaction of gold, silver, platinum, or palladium where the transaction amount is less than $1,000; (3) numismatic coins less than $1,000; (4) coins that are not, or have not been, used as mediums of exchange of the United States or any foreign country; (5) accessory items; and (6) processed items. All other products sold by NPMEX are exempt from these taxes.

The following definitions apply to products on which taxes must be collected in Maryland:

• Single Sales Transaction: Determined per invoice, and not on a line-item basis.
• Numismatic Coins: Coins which have an external value above and beyond the base value of the underlying precious metal, due to the item’s rarity, condition, age, or other external factor Medium of Exchange: Coins or currency that are acceptable as a measure of value and a standard of exchange for goods and services.
• Accessory Items: Items such as holders, tubes or coin flips.
• Processed Items: Precious Metals that have been processed by third parties into items valued on more than their Precious Metal content, such as jewelry, statues or colorized coins.

Sales taxes in Maryland are calculated at checkout on the NPMEX website based on (1) the taxability of products sold by NPMEX in Maryland set forth above, and (2) the specific tax rates established by the taxing jurisdiction of the delivery address in Maryland.

Capital Gains Tax:

Gold and silver are subject to capital gains taxation when exchanged for Federal Reserve notes or when used in barter transactions.

Please Note: The above is not a comprehensive description of sales tax laws and requirements in the state of Maryland. it is only intended to provide the reader with a brief overview of those sales tax laws and requirements currently in effect in the state of Maryland that relate to the reader’s transactions with NPMEX. if you would like to research the sales tax laws and requirements in the state of Maryland, we suggest you visit the Maryland department of revenue located at https://taxes.marylandtaxes.gov/Business_Taxes/.Buying Gold and Silver in Maryland. Buying precious metals from online dealer NPMEX has some major advantages. Though NPMEX is physically located in Erie Colorado, we ship all over the United States, every day.

NPMEX offers a huge selection of coin and bullion products for Maryland residents to choose from. Buyers can shop by metal type or by form such as coin, round or bar. In addition to potential cost savings, shopping online at NPMEX is convenient and can be done from the comfort of your own home or office. Simply pick the coin or bullion products you want to buy, complete the simple checkout process, and your metals will be quickly shipped to your home or other destination of choice. Your precious metals purchases are fully insured and tracked while in transit.

Benefits to buying gold & silver online at NPMEX.com :

• Gold and silver shipped directly to your door
• Lower prices than most physical coin stores
• Wide selection
• 24/7 online ordering 365 days a year
• Friendly & knowledgeable customer service

Because online precious metals dealer NPMEX may have lower overhead than brick and mortar coin shops, we are able to pass savings on to our customers. NPMEX offers some of the lowest prices available for precious metals. NPMEX is proud to serve the residents of Maryland and offers a great value and buying experience.