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.
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You can read more about the recent increase to the tax exempt threshold here.
Please note that this is not a comprehensive review of sales tax laws, only a brief overview of sales tax laws and requirements that may currently affect your transactions with Safe Haven Metal when shipping to the state of California. Hyperlinks are provided to the state laws, therefore if at any time the text on this page differs from the state’s, you must follow the state’s text.
Sales tax is assessed according to where one is shipping the purchase to.
Safe Haven Metal uses an advanced sales tax computation system to calculate the correct precious metals’ sales tax applicable to your zip code. Making your purchase the best price with the most accurate tax automatically calculated for you. Now all you need to do is figure out which precious metals you are going to buy next with Safe Haven Metal.
