California Precious Metals Tax
California tax on precious metals
Taxes must be collected on (1) nonmonetized bullion made from platinum, palladium or copper; (2) monetized bullion, nonmonetized gold or silver bullion, or numismatic coins if the total amount of a single sales transaction is less than $2,000; (3) accessory items; and (4) processed items. All other products sold by SHM are exempt from these taxes.
Taxable Products in California
The following definitions apply to products on which these taxes must be collected in California:
- Nonmonetized Bullion. Bullion, which has been smelted or refined and has a value dependent primarily upon its precious metal content and not upon its form.
- Monetized Bullion. Coins or other forms of money manufactured of gold, silver, or other metal and heretofore, now, or hereafter used as a medium of exchange under the laws of California, the United States, or any foreign nation. The medium of exchange must have had a legal status equivalent to legal tender.
Disclaimer
Disclaimer: Sales tax laws and rates regarding precious metals coins and bars in California may change without notice. This page provides general guidance only. Please consult your local tax authority or a qualified tax professional, and check official state resources for the most current and accurate information before making any precious metals transactions.
If you want to buy or sell precious metal coins and bars in California, your transactions are generally tax-free over $2,000. Always verify your specific products and stay updated with the California Division of tax Revenue.
Sales tax is assessed according to where one is shipping the purchase to.
Safe Haven Metal utilizes an advanced sales tax computation system to determine the applicable sales tax on precious metals transactions based on the purchaser’s ZIP code. This system is designed to ensure that the most accurate pricing and corresponding tax calculations are applied to each order.
However, Safe Haven Metal may not have an established economic nexus in every state or jurisdiction. In instances where Safe Haven Metal is not obligated to collect sales tax, and such tax is nonetheless applicable under state or local law, the purchaser is solely responsible for reporting, remitting, and paying any such taxes directly to the appropriate taxing authority.
Safe Haven Metal disclaims any liability for a purchaser’s failure to properly report or remit taxes that may be due in connection with their purchase.
