Massachusetts Precious Metals Sales Tax
What Precious Metals Are Taxed in Massachusetts?
Sales Tax on Precious Metals (Coins and Bars) in MassachusettsÂ
If you are buying or selling gold, silver, platinum, or palladium coins and bars in Massachusetts, here is the most current information regarding sales tax.
Does Massachusetts Charge Sales Tax on Precious Metal Coins and Bars?
Massachusetts exempts certain precious metals from sales tax if the transaction amount is $1,000 or more.
The exemption applies to:
Rare coins of numismatic value
Gold or silver bullion or coins
If the sale amount is less than $1,000, state sales tax applies.
The general sales tax rate in Massachusetts is 6.25%.
This exemption does not apply to all precious metals; for example, platinum, palladium, and some foreign coins may still be taxable regardless of the amount.
Official Government Resources
Summary Table: Massachusetts Sales Tax on Precious Metals Coins and Bars
| Product Type | Sales Tax Status | Notes |
|---|---|---|
| Gold/silver coins or bullion ≥ $1,000 | Exempt | Exemption applies per transaction |
| Gold/silver coins or bullion < $1,000 | Taxable (6.25%) | Â |
| Rare coins of numismatic value ≥ $1,000 | Exempt |  |
| Platinum, palladium, some foreign coins | Taxable (6.25%) | Not covered by exemption |
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Disclaimer
Disclaimer: Sales tax laws and rates regarding precious metals coins and bars in Massachusetts may change without notice. This page provides general guidance only. Please consult the Massachusetts 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 Massachusetts, transactions of $1,000 or more in qualifying gold or silver products are tax-free. Always verify your specific products and stay updated with the Massachusetts 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.
