What Precious Metals are Taxed in Connecticut?

One must closely read Conn. Gen. Stat. § 12-412 (45) to see that sales tax applies to:

    • Any Palladium sale

    • Any Platinum sale

    • Any Numismatic coins (when value is not based on metal content, but rather on unique factors)

    • Gold if total value of sale is under $1,000

    • Silver if total value of sale is under $1,000

    • Numismatic coins traded on metal value if total value of sale is under $1,000

The applicable sales tax is 6.35% Conn. Gen. Stat. § 12-408

Definitions Specific to Precious Metal Products in Connecticut

One of the advantages to being part of the original thirteen colony club, is they have seen it all. The state employs the most thorough definitions imaginable. If it involves anything engaging with anything for something, it’s in the definitions in Conn. Gen. Stat. § 12-407

Bullion qualifies for sales tax exemption, if: 

Conn. Gen. Stat. § 12-412 (45) sales of, and the storage or use of, so long as traded according to its value as precious metal:

    • rare or antique coins, 

    • gold or silver bullion and 

    • gold or silver legal tender of any nation,

Then taxes otherwise imposed, shall not apply to the gross receipts from the sale of and the storage, use or other consumption of the above in Connecticut.

Conclusion

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 Connecticut. Hyperlinks will be provided to the state laws, 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.

Writing this article has convinced us to move to Connecticut. Call or shop online with Safe Haven Metal now, before we board the flight and place your precious metals order with us now.

Disclaimer

Disclaimer: Sales tax laws and rates regarding precious metals coins and bars in Connecticut 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 Connecticut, your transactions are taxed based on a multitude of factors. Always verify your specific products and stay updated with the Connecticut Division of 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.

Choose another state