Michigan Precious Metals Sales Tax
What Precious Metals Are Taxed in Michigan?
Sales Tax on Precious Metals (Coins and Bars) in Michigan
If you are buying or selling gold, silver, or platinum coins and bars in Michigan, here is the most current information regarding sales tax.
Does Michigan Charge Sales Tax on Precious Metal Coins and Bars?
Michigan exempts sales of investment coins and bullion from state sales tax.
The exemption applies to:
Gold, silver, or platinum bullion that is at least 90% pure.
Investment coins, which include legal tender coins made of gold, silver, or platinum.
Items that do not qualify for exemption (such as copper, medallions, tokens, paper currency, or bullion below 90% purity) are subject to Michigan’s 6% sales tax.
Official Government Resource
Summary Table: Michigan Sales Tax on Precious Metals Coins and Bars
| Product Type | Sales Tax Status | Notes |
|---|---|---|
| Gold, silver, platinum bullion (≥90% purity) | Exempt | Applies to bars, rounds, ingots |
| Investment coins (legal tender) | Exempt | U.S. or foreign legal tender |
| Bullion <90% purity, copper, medallions, tokens, paper currency | Taxable | Subject to 6% sales tax |
Disclaimer
Disclaimer: Sales tax laws and rates regarding precious metals coins and bars in Michigan may change without notice. This page provides general guidance only. Please consult the Michigan Department of Treasury 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 Michigan, ensure your products meet the exemption criteria to avoid sales tax. Always verify your specific products and stay updated with the Michigan Department of Treasury.
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.
