Will I be required to pay Sales Tax on Precious Metals?
Refer to your Shipping Address State below to find out if you will be required to pay sales tax on your order. Precious Metals are exempt from sales tax in many states, however each state within the U.S. has their own rules and regulations when it comes to collecting sales tax on precious metals.
ALABAMA
Sales tax will not be charged for Gold, Silver, Platinum, or Palladium bullion items as they are exempt from sales tax when shipping to an Alabama address. The state of Alabama requires the collection of a flat-rate Simplified Sellers Use Tax of 8% on certain products sold by NPMEX and delivered to an Alabama address. These taxes must be collected on (1) Copper products, (2) certain bullion items less than .90 fine, (3) certain numismatic products, (4) accessory items and (5) processed items. All other products sold by NPMEX are exempt from these taxes. Read More
ALASKA
NO sales tax will be charged for any items shipping to an Alaska address. There is currently no statewide sales tax in effect in the state of Alaska, therefore NPMEX is not required to collect sales tax on any products shipping to an address in Alaska. Read More
ARIZONA
NO sales tax will be charged for Gold, Silver, Platinum, or Palladium bullion items as they are exempt from sales tax when shipping to an Arizona address. The state of Arizona does require the collection of taxes on some products sold by NPMEX and delivered to an Arizona address. These taxes must be collected on copper products, accessory items and processed items. All other products sold by NPMEX are exempt from these taxes. Read More
ARKANSAS
NO sales tax will be charged for Gold, Silver, Platinum, or Palladium bullion items as they are exempt from sales tax when shipping to an Arkansas address (as of October 1, 2021). The state of Arkansas does require the collection of sales taxes on some products sold by NPMEX and delivered to a Arkansas address. These taxes must be collected on Copper products, Precious Metal bullion that does not meet certain purity requirements, accessory items and processed items. All other products sold by NPMEX are exempt from these taxes Read More
CALIFORNIA
NO sales tax will be charged for monetized Gold, Silver, Platinum, or Palladium bullion, nonmonetized gold or silver bullion, or numismatic coins if the total amount of a single sales transaction for these items is $1,500 or more as qualifying purchases are exempt from sales tax when shipping to a California address. The State of California does require the collection of use taxes on some products sold by NPMEX and delivered to a California address. These taxes must be collected on nonmonetized bullion made from copper, platinum, or palladium; monetized bullion, nonmonetized gold or silver bullion, or numismatic coins if the total amount of a single sales transaction is less than $1,500; accessory items; and processed items. All other products sold by NPMEX are exempt from these taxes. Read More
COLORADO
NO sales tax will be charged for Gold, Silver, Platinum, or Palladium bullion items as they are exempt from sales tax when shipping to a Colorado address. The state of Colorado does require the collection of taxes on some products sold by NPMEX and delivered to a Colorado address. These taxes must be collected on copper products, certain numismatic products, accessory items and processed items. All other products sold by NPMEX are exempt from these taxes. Read More
CONNECTICUT
NO sales tax will be charged for Rare or Antique coins, Gold or Silver bullion and Gold or Silver legal tender of any nation, traded according to its value as precious metal, 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 Connecticut address. The state of Connecticut does require the collection of taxes on some products sold by NPMEX and delivered to a Connecticut address. These taxes must be collected on Platinum products, Palladium products, Copper products, certain numismatic products, accessory items, processed items and any single transaction comprised of Gold and/or Silver totaling less than $1,000. All other products sold by NPMEX are exempt from these taxes. Read More
DELAWARE
NO sales tax will be charged for any items shipping to a Delaware address. There is currently no statewide sales tax in effect in the state of Delaware, therefore we are not required to collect sales tax on any products shipping to an address in Delaware. Read More
DISTRICT OF COLUMBIA
The District of Columbia requires NPMEX to collect sales taxes on all products sold by NPMEX and delivered to a District of Columbia address. Read More
FLORIDA
NO sales tax will be charged for any items shipping to a Florida address. NPMEX currently does not collect sales tax on orders shipping to Florida. Read More
GEORGIA
NO sales tax will be charged for Gold, Silver, or Platinum bullion items as they are exempt from sales tax when shipping to a Georgia address. The state of Georgia does require the collection of sales taxes on some products sold by NPMEX and delivered to a Georgia address. These taxes must be collected on Palladium products, Copper products, certain currency, accessory items and processed items. All other products sold by NPMEX are exempt from these taxes. Read More
HAWAII
The state of Hawaii requires NPMEX to collect general excise taxes on all products sold by NPMEX and delivered to a Hawaii address. Read More
IDAHO
NO sales tax will be charged for Gold, Silver, Platinum, or Palladium bullion items as they are exempt from sales tax when shipping to an Idaho address. The state of Idaho does require the collection of sales taxes on some products sold by NPMEX and delivered to an Idaho address. These taxes must be collected on copper products, accessory items and processed items. All other products sold by NPMEX are exempt from these taxes. Read More
ILLINOIS
NO sales tax will be charged for most Gold, Silver, or Platinum bullion items as they are exempt from sales tax when shipping to an Illinois address. The state of Illinois does require the collection of taxes on certain products sold by NPMEX and delivered to an Illinois address. These taxes must be collected on certain Palladium products, Copper products, any bullion less than .980 fine, accessory items and processed items. Read More
INDIANA
NO sales tax will be charged for any U.S. Legal Tender coins, and most Gold (.995+up), Silver (.999+up), Plat (.9995+up), Pallad (.9995+up) bullion items as they are exempt from sales tax when shipping to an Indiana address. The state of Indiana does require the collection of sales taxes on some products sold by NPMEX and delivered to an Indiana address. These taxes must be collected on copper products, any non-U.S. Legal Tender Gold products with a purity less than .995 fine, any silver products with a purity less than .999 fine, any Platinum products with a purity less than .9995 fine, any Palladium products with a purity less than .9995 fine, numismatic products, accessory items and processed items. Read More
IOWA
NO sales tax will be charged for Gold, Silver, Platinum, Palladium Bullion items, or legal tender coins as they are exempt from sales tax when shipping to an Iowa address. The state of Iowa does require the collection of sales taxes on some products sold by NPMEX and delivered to an Iowa address. These taxes must be collected on Copper products, certain currency, accessory items and processed items. Read More
KANSAS
NO sales tax will be charged for Gold, Silver, Platinum, or Palladium bullion items or gold or silver coins as they are exempt from sales tax when shipping to a Kansas address. The state of Kansas does require the collection of taxes on some products sold by NPMEX and delivered to a Kansas address. These taxes must be collected on any coins that are not Gold or Silver, Copper products, accessory items and processed items. All other products sold by NPMEX are exempt from these taxes. Read More
KENTUCKY
The state of Kentucky requires NPMEX to collect taxes on all products sold by NPMEX and delivered to a Kentucky address. Read More
LOUISIANA
NO sales tax will be charged for Gold, Silver, or Platinum bullion items, or numismatic coins priced under $1,000 as they are exempt from sales tax when shipping to a Louisiana address. The state of Louisiana does require the collection of sales taxes on some products sold by NPMEX and delivered to a Louisiana address. These taxes must be collected on Palladium products, Copper products, numismatic coins that have a sales price of more than $1,000, accessory items and processed items. All other products sold by NPMEX are exempt from these taxes. Read More
MAINE
The state of Maine requires NPMEX to collect sales taxes on all products sold by NPMEX and delivered to a Maine address. Read More
MARYLAND
NO sales tax will 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 does require the collection of sales taxes on some products sold by NPMEX and delivered to a Maryland address. These taxes must be collected on copper products; any single transaction of Gold, Silver, Platinum or Palladium less than $1,000; numismatic coins less than $1,000; coins that are not or have not been used as mediums of exchange of the United States or any foreign country; accessory items; and processed items. All other products sold by NPMEX are exempt from these taxes. Read More
MASSACHUSETTS
NO sales tax will be charged for gold or silver bullion or coins, rare coins of numismatic value, or gold or silver tender of any nation traded and sold according to its value as precious metal, 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 Massachusetts address. The state of Massachusetts does require the collection of taxes on some products sold by NPMEX and delivered to a Massachusetts address. These taxes must be collected on copper products, Platinum bullion products, Palladium bullion products, any single transaction less than $1,000, accessory items and processed items. All other products sold by NPMEX are exempt from these taxes. Read More
MICHIGAN
NO sales tax will be charged for Gold, Silver, or Platinum investment coins and bullion items as they are exempt from sales tax when shipping to a Michigan address. The state of Michigan does require the collection of sales taxes on some products sold by NPMEX and delivered to a Michigan address. These taxes must be collected on copper products, certain bullion items less than .90 fine, certain Palladium products, accessory items and processed items. All other products sold by NPMEX are exempt from these taxes. Read More
MINNESOTA
NPMEX currently does not ship to the state of Minnesota. Read More
MISSISSIPPI
The state of Mississippi requires NPMEX to collect taxes on all products sold by NPMEX and delivered to a Mississippi address. Read More
MISSOURI
NO sales tax will be charged for any items shipping to a Missouri address. NPMEX currently does not collect sales tax on orders shipping to Missouri. Read More
MONTANA
NO sales tax will be charged for any items shipping to a Montana address. There is currently no statewide sales tax in effect in the state of Montana, therefore we are not required to collect sales tax on any products shipping to an address in Montana. Read More
NEBRASKA
NO sales tax will be charged for Gold, Silver, Platinum or Palladium bullion items as they are exempt from sales tax when shipping to a Nebraska address. The state of Nebraska does require the collection of sales taxes on some products sold by NPMEX and delivered to a Nebraska address. These taxes must be collected on copper products, certain currency, accessory items and processed items. Read More
NEVADA
NO sales tax will be charged for bullion or coins used as a medium of exchange as they are exempt from sales tax when shipping to a Nevada address. The state of Nevada does require the collection of sales taxes on some products sold by NPMEX and delivered to a Nevada address. These taxes must be collected on copper products, coins not used as mediums of exchange, bullion not used as a medium of exchange, accessory items and processed items. All other products sold by NPMEX are exempt from these taxes. Read More
NEW HAMPSHIRE
NO sales tax will be charged for any items shipping to a New Hampshire address. There is currently no statewide sales tax in effect in the state of New Hampshire, therefore we are not required to collect sales tax on any products shipping to an address in New Hampshire. Read More
NEW JERSEY
The state of New Jersey requires NPMEX to collect sales taxes on all products sold by NPMEX and delivered to a New Jersey address. Read More
NEW MEXICO
The state of New Mexico requires NPMEX to collect taxes on all products sold by NPMEX and delivered to a New Mexico address. Read More
NEW YORK
NO sales tax will 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 and certain sales price requirements are met as qualifying purchases are exempt from sales tax when shipping to a New York address. The state of New York does require the collection of sales taxes on some products sold by NPMEX and delivered to a New York address. These taxes must be collected on copper products, accessory items and processed items. Products with Precious Metal content will be charged sales tax if the aggregate amount of the invoices for Precious Metals is less than or equal to $1,000. Products with Precious Metals content may be charged sales tax if the aggregate amount of the invoice is greater than $1,000 and one of the following is true: Read More
NORTH CAROLINA
NO sales tax will be charged for Gold, Silver, Platinum, or Palladium bullion items as they are exempt from sales tax when shipping to a North Carolina address. The state of North Carolina does require the collection of sales taxes on some products sold by NPMEX and delivered to a North Carolina address. These taxes must be collected on copper products, accessory items and processed items. All other products sold by NPMEX are exempt from these taxes. Read More
NORTH DAKOTA
NO sales tax will be charged for Legal Tender coins nor .999 fine Gold, Silver, Platinum, or Palladium bullion items as they are exempt from sales tax when shipping to a North Dakota address. The state of North Dakota does require the collection of sales taxes on some products sold by NPMEX and delivered to a North Dakota address. These taxes must be collected on copper products, Precious Metal bullion that does not meet certain purity requirements, accessory items and processed items. All other products sold by NPMEX are exempt from these taxes. Read More
OHIO
NO sales tax will be charged for Gold, Silver, Platinum, or Palladium bullion items as they are exempt from sales tax when shipping to an Ohio address (as of October 1, 2021). The state of Ohio does require the collection of sales taxes on some products sold by NPMEX and delivered to a Ohio address. These taxes must be collected on Copper products, Precious Metal bullion that does not meet certain purity requirements, accessory items and processed items. All other products sold by NPMEX are exempt from these taxes. Read More
OKLAHOMA
NO sales tax will be charged for Gold, Silver, Platinum, or Palladium bullion items or any Legal Tender Coins used as a medium of exchange in the United States or any foreign country as they are exempt from sales tax when shipping to an Oklahoma address. The state of Oklahoma does require the collection of sales taxes on some products sold by NPMEX and delivered to an Oklahoma address. These taxes must be collected on copper products, accessory items and processed items. All other products sold by NPMEX are exempt from these taxes. Read More
OREGON
NO sales tax will be charged for any items shipping to an Oregon address. There is currently no statewide sales tax in effect in the state of Oregon, therefore we are not required to collect sales tax on any products shipping to an address in Oregon. Read More
PENNSYLVANIA
NO sales tax will be charged for Gold, Silver, Platinum, or Palladium bullion items or any Legal Tender Coins used as a medium of exchange in the United States or any foreign country as they are exempt from sales tax when shipping to a Pennsylvania address. The state of Pennsylvania does require the collection of sales taxes on some products sold by NPMEX and delivered to a Pennsylvania address. These taxes must be collected on copper products, coins that are not currently or were not previously used as legal tender in the United States or any foreign country, accessory items and processed items. All other products sold by NPMEX are exempt from these taxes. Read More
RHODE ISLAND
NO sales tax will be charged for Gold, Silver, Platinum, or Palladium bullion items as they are exempt from sales tax when shipping to a Rhode Island address. The state of Rhode Island does require the collection of sales taxes on some products sold by NPMEX and delivered to a Rhode Island address. These taxes must be collected on copper products, accessory items and processed items. All other products sold by NPMEX are exempt from these taxes. Read More
SOUTH CAROLINA
NO sales tax will be charged for Gold, Silver, Platinum, or Palladium bullion items as they are exempt from sales tax when shipping to a South Carolina address. The state of South Carolina does require the collection of sales taxes on some products sold by NPMEX and delivered to a South Carolina address. These taxes must be collected on copper products, Palladium products, numismatic products except those currently or previously used as legal tender, accessory items and processed items. All other products sold by NPMEX are exempt from these taxes. Read More
SOUTH DAKOTA
NO sales tax will be charged for Gold, Silver, Platinum, or Palladium bullion items as they are exempt from sales tax when shipping to a South Dakota address. The state of South Dakota does require the collection of sales taxes on some products sold by NPMEX and delivered to a South Dakota address. These taxes must be collected on Copper products, certain numismatic products, coins not issued as legal tender, accessory items and processed items. All other products sold by NPMEX are exempt from these taxes. Read More
TENNESSEE
The state of Tennessee requires NPMEX to collect sales taxes on all products sold by NPMEX and delivered to a Tennessee address. Read More
TEXAS
NO sales tax will be charged for Gold or Silver coins, bars or rounds as well as Platinum bars or rounds as they are exempt from sales tax when shipping to a Texas address. The State of Texas does require the collection of sales taxes on some products sold by NPMEX and delivered to a Texas address. These taxes must be collected on (1) copper and palladium bullion products; (2) copper, palladium, and platinum coin products; (3) accessory items; and (4) processed items. All other products sold by NPMEX are exempt from these taxes. Read More
UTAH
NO sales tax will be charged for Gold, Silver, or Platinum bullion items we sell as they are exempt from sales tax when shipping to a Utah address. The state of Utah does require the collection of sales taxes on some products sold by NPMEX and delivered to a Utah address. These taxes must be collected on any coins that do not constitute legal tender of any state, the United States, or any foreign country; Copper products; Palladium products; any bullion products made of Gold, Silver or Platinum if the Gold, Silver or Platinum content is less than 50%; accessory items and processed items. All other products sold by NPMEX are exempt from these taxes. Read More
VERMONT
The state of Vermont requires NPMEX to collect sales taxes on all products sold by NPMEX and delivered to a Vermont address. Read More
VIRGINIA
NO sales tax will be charged for Gold, Silver, or Platinum 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 Virginia address. The state of Virginia does require the collection of sales taxes on some products sold by NPMEX and delivered to a Virginia address. These taxes must be collected on Palladium products, Copper products, accessory items and processed items. Products with Precious Metal content will be charged sales tax if the aggregate amount of the invoices for Precious Metals is less than $1,000. Read More
WASHINGTON
NO sales tax will be charged for Gold, Silver, Platinum, or Palladium bullion items as they are exempt from sales tax when shipping to a Washington address. The state of Washington does require the collection of sales taxes on some products sold by NPMEX and delivered to a Washington address. These taxes must be collected on Copper products, numismatic products, accessory items and processed items. All other products sold by NPMEX are exempt from these taxes. Read More
WEST VIRGINIA
NO sales tax will be charged for Gold, Silver, Platinum, or Palladium investment bullion and coins we sell as they are exempt from sales tax when shipping to a West Virginia address. The state of West Virginia does require the collection of sales taxes on some products sold by NPMEX and delivered to an West Virginia address. These taxes must be collected on Copper products, accessory items and processed items. All other products sold by NPMEX are exempt from these taxes. Read More
WISCONSIN
The State of Wisconsin requires NPMEX to collect sales taxes on all products sold by NPMEX and delivered to a Wisconsin address. Read More
WYOMING
NO sales tax will be charged for Gold or Silver bullion items we sell as they are exempt from sales tax when shipping to a Wyoming address. The state of Wyoming does require the collection of sales taxes on some products sold by NPMEX and delivered to a Wyoming address. These taxes must be collected on any coins that have Gold or Silver content but are not recognized as mediums of exchange for the payment of debts and taxes; any coins or bullion made of Platinum, Palladium or Copper; any bullion products made of Gold or Silver if such bullion is not stamped or imprinted with its weight and purity; accessory items; and processed items. All other products sold by NPMEX are exempt from these taxes. Read More
Why the Change in Tax Collection?
In short, a U.S. Supreme Court decision in June of 2018 triggered a chain reaction of new laws governing the collection of sales tax on orders shipped to you from out-of-state retailers.
Prior to the aforementioned Supreme Court decision, we were not required to collect state sales tax on orders shipping to out of state addresses (aka our “physical nexus”). This was because back in 1992, the Supreme Court set a precedent for how each state would deal with online retailers in the case of “Quill Corp v. North Dakota”. The court ruled in favor of Quill Corp, ruling that the company did not need to collect tax on sales in North Dakota as they had no physical presence within the state.
Flash forward to June 21, 2018, the day that the Supreme Court announced a new decision in the “South Dakota v. Wayfair Inc.” case. South Dakota argued that it was losing out on local sales taxes because consumers were spending more money shopping online with out-of-state companies than they were in local brick-and-mortar stores. SCOTUS decided in favor of South Dakota, ruling that now economic activity (such as a certain number of sales made to a state) is considered “economic nexus” and can trigger a sales tax collection obligation. South Dakota blazed a new trail, and other states have followed close behind.
Now, online retailers are being forced to adapt to the varying state sales tax rules and regulations across the United States. For precious metals dealers this is exceptionally complex as there are special rules and regulations governing the collection of sales tax on precious metals bullion for each state. At NPMEX, we are working to make this transition easy, especially as we begin enforcing the tax laws of an increasing number of states. We hope our state sales tax map and information pages will help our customers understand how sales tax is collected for orders placed with NPMEX. If you have specific questions, you may want to contact your tax professional.
