Iowa Precious Metals Sales Tax
What Precious Metals Are Taxed in Iowa?
Sales Tax on Precious Metals (Coins and Bars) in Iowa
If you are buying or selling gold, silver, platinum, or palladium coins and bars in Iowa, here is the most current information regarding sales tax.
Does Iowa Charge Sales Tax on Precious Metal Coins and Bars?
Iowa does NOT charge sales tax on precious metals coins, currency, or bullion.
According to Iowa Code Section 423.3, the sales price from sales of coins, currency, or bullion is exempt from sales tax.
Definitions:
Bullion means bars, ingots, or commemorative medallions of gold, silver, platinum, palladium, or a combination of these where the value depends on the metal content, not the form.
Coins or currency means coins or currency made of gold, silver, or other metal or paper which is or has been used as legal tender.
This exemption makes Iowa a tax-friendly state for buying and selling precious metals.
Summary Table: Iowa Sales Tax on Precious Metals Coins and Bars
| Product Type | Sales Tax Status | Notes |
|---|---|---|
| Bullion coins and bars | Exempt | Sales tax exempt statewide |
| Legal tender coins and currency | Exempt | Sales tax exempt statewide |
Official Government Resources
Disclaimer
Disclaimer: Sales tax and capital gains tax laws regarding precious metals coins and bars in Iowa may change without notice. This page provides general guidance only. Please consult the Iowa Department of Revenue or a qualified tax professional 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 Iowa, you can do so without paying state sales tax or capital gains tax. Always verify your specific products and stay updated with the Iowa Department 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.
