Sales Tax

Buying Precious Metals & Potential Tax Implications

When purchasing precious metals from American Alternative Assets certain transactions may be subject to sales tax based on state regulations. The tax you pay—or don’t pay—depends on the shipping destination and the specific products you purchase.

For example, if your home state requires sales tax collection but the state where you are storing your gold or silver does not, and you choose to ship your metals directly to a depository in that state, you may not be required to pay sales tax.

Why Are We Required to Collect Sales Tax?

Sales tax collection on online purchases has evolved due to key legal rulings:

  • 1992 - Quill Corp v. North Dakota: The U.S. Supreme Court ruled that a business without a physical presence in a state was not required to collect sales tax.
  • 2018 - South Dakota v. Wayfair Inc.: The Supreme Court overturned the Quill ruling, allowing states to require online businesses to collect sales tax even without a physical location in the state.

As a result, American Alternative Assets follows state-specific sales tax laws and collects tax where required. We have worked with tax professionals to determine the affected states and products, making it easy for you to understand any applicable taxes before finalizing your order.

Taxable Product Categories

Different states classify precious metals and collectibles differently for tax purposes. Below are general definitions of how product categories are classified:

  • All Products: Applies to every product on our website.
  • Accessories: Cases, capsules, and other non-metal items.
  • Processed Items: Proof coins, jewelry, statues, and colorized products.
  • Palladium: Any palladium bullion or coins.
  • Copper: Any copper bars, rounds, or coins.
  • Silver Coins: Any silver coins (excluding silver bars or rounds).
  • Gold Coins: Any gold coins (excluding gold bars).
  • Platinum Bullion: Pure platinum bars or ingots.
  • Platinum Coins: Any platinum coins.
  • Numismatic Coins: Collectible coins valued for rarity rather than metal content, such as graded or proof coins.

State-by-State Sales Tax Collection

We collect sales tax in states where it is required by law. If you want to know the tax requirements for your state, please select your shipping destination from our list of taxable states:

A - F G - L M N - O P - U V - W
AlabamaGeorgiaMaineNebraskaPennsylvaniaVermont
ArizonaHawaiiMarylandNevadaRhode IslandVirginia
ArkansasIdahoMassachusettsNew JerseySouth CarolinaWashington
CaliforniaIllinoisMichiganNew MexicoSouth DakotaWashington D.C.
ColoradoIndianaMinnesotaNew YorkTennesseeWest Virginia
ConnecticutIowaMississippiNorth CarolinaTexasWisconsin
FloridaKansasMissouriNorth DakotaUtahWyoming
KentuckyOhio
LouisianaOklahoma

States Where No Sales Tax is Collected:

  • Delaware
  • Montana
  • New Hampshire
  • Oregon

State-Specific Sales Tax Collection

American Alternative Assets follows state tax regulations when applicable. Below is a breakdown of states where sales tax applies and the types of products subject to taxation. Taxes are calculated at checkout based on state laws.

Alabama Sales Tax

American Alternative Assets is required to collect sales tax in Alabama on the following items:

  • Accessories
  • Processed Items
  • Copper
  • Numismatics
  • Items below .900 purity

Alabama Tax Notice:
As required by Alabama law (Rule 810-6-2-.90.02), American Alternative Assets collects the Simplified Sellers Use Tax (SSUT) on eligible transactions and remits it to the Alabama Department of Revenue. The tax rate is 8%, and our program account number is SSU-R010072952.

Alaska Sales Tax

American Alternative Assets is not required to collect state sales tax in Alaska. However, some local jurisdictions require sales tax collection on the following items:

  • No state-level sales tax, but some local jurisdictions require sales tax collection on all products.

Arizona Sales Tax

American Alternative Assets is required to collect sales tax in Arizona on the following items:

  • Accessories
  • Processed Items
  • Copper

Arkansas Sales Tax

American Alternative Assets is required to collect sales tax in Arkansas on the following items:

  • Accessories
  • Processed Items
  • Copper

California Sales Tax

American Alternative Assets is required to collect sales tax in California on the following items:

  • Accessories
  • Processed Items
  • Copper
  • Palladium Bullion
  • Platinum Bullion
  • Gold, Silver, Platinum, and Palladium Coins & Numismatics under $2,000

Colorado Sales Tax

American Alternative Assets is required to collect sales tax in Colorado on the following items:

  • Accessories
  • Processed Items
  • Copper
  • Numismatics

Connecticut Sales Tax

American Alternative Assets is required to collect sales tax in Connecticut on the following items:

  • Accessories
  • Processed Items
  • Copper
  • Palladium
  • Platinum Coins
  • Platinum Bullion
  • Numismatics
  • Gold & Silver Transactions under $1,000

Florida Sales Tax

American Alternative Assets is required to collect sales tax in Florida on the following items:

  • Copper
  • Palladium
  • Processed Items
  • Accessories
  • Coins and bullion if the total transaction is under $500, unless:
    • The coin or currency is legal tender of the U.S.
    • The coin or currency is legal tender of another country and sold at face value.

Georgia Sales Tax

American Alternative Assets is required to collect sales tax in Georgia on the following items:

  • Accessories
  • Processed Items
  • Copper
  • Palladium

Hawaii Sales Tax

American Alternative Assets is required to collect sales tax in Hawaii on the following items:

  • All Products

Idaho Sales Tax

American Alternative Assets is required to collect sales tax in Hawaii on the following items:

  • Accessories
  • Processed Items
  • Copper

Illinois Sales Tax

American Alternative Assets is required to collect sales tax in Illinois on the following items:

  • Accessories
  • Processed Items
  • Copper
  • Palladium
  • Bullion below .980 purity
  • Coins issued by states other than Illinois

Indiana Sales Tax

American Alternative Assets is required to collect sales tax in Indiana on the following items:

  • Accessories
  • Processed Items
  • Copper
  • Numismatics
  • Foreign Gold, Silver, Platinum, and Palladium Coins & Bullion below specific purities

Iowa Sales Tax

American Alternative Assets is required to collect sales tax in Indiana on the following items:

  • Accessories
  • Processed Items
  • Copper

Kansas Sales Tax

American Alternative Assets is required to collect sales tax in Kansas on the following items:

  • Accessories
  • Processed Items
  • Copper
  • All coins except those made of gold or silver

Kentucky Sales Tax

American Alternative Assets is required to collect sales tax in Kentucky on the following items:

  • All Products

Louisiana Sales Tax

American Alternative Assets is required to collect sales tax in Louisiana on the following items:

  • Accessories
  • Processed Items
  • Copper
  • Palladium
  • Numismatics if over $1,000

Maine Sales Tax

American Alternative Assets is required to collect sales tax in Maine on the following items:

  • All Products

Maryland Sales Tax

American Alternative Assets is required to collect sales tax in Maryland on the following items:

  • Accessories
  • Processed Items
  • Copper
  • Coins that have not been used as a medium of exchange
  • Precious metal bullion and coin transactions under $1,000

Massachusetts Sales Tax

American Alternative Assets is required to collect sales tax in Massachusetts on the following items:

  • Copper
  • Accessories
  • Platinum Coins & Bullion
  • Palladium Coins & Bullion
  • Processed Items
  • Numismatic transactions under $1,000
  • Gold & Silver transactions under $1,000

Michigan Sales Tax

American Alternative Assets is required to collect sales tax in Michigan on the following items:

  • Accessories
  • Processed Items
  • Copper
  • Palladium
  • Metals below .90 purity

Minnesota Sales Tax

American Alternative Assets is required to collect sales tax in Minnesota on the following items:

  • Accessories
  • Processed Items
  • Copper
  • Numismatics
  • Gold, Silver, Platinum, and Palladium Coins
  • Gold, Silver, Platinum, & Palladium Bullion below .999 purity

Mississippi Sales Tax

American Alternative Assets is required to collect sales tax in Mississippi on the following items:

  • Copper
  • Accessories
  • Processed Items

Missouri Sales Tax

American Alternative Assets is required to collect sales tax in Missouri on the following items:

  • Copper
  • Accessories
  • Processed Items

Nebraska Sales Tax

American Alternative Assets is required to collect sales tax in Nebraska on the following items:

  • Accessories
  • Processed Items
  • Copper

Nevada Sales Tax

American Alternative Assets is required to collect sales tax in Nevada on the following items:

  • Accessories
  • Processed Items
  • Copper

New Jersey Sales Tax

American Alternative Assets is required to collect sales tax in New Jersey on the following items: (Effective January 1, 2025)**

  • Exempt: Investment metal bullion
  • Exempt: Investment coins over $1,000 fair market value
  • Taxable: All other products

New York Sales Tax

American Alternative Assets is required to collect sales tax in New York on the following items:

  • Accessories
  • Processed Items
  • Copper
  • Precious Metals transactions under $1,000
  • Certain coins and bars depending on markup value

North Carolina Sales Tax

American Alternative Assets is required to collect sales tax in North Carolina on the following items:

  • Accessories
  • Processed Items
  • Copper

North Dakota Sales Tax

American Alternative Assets is required to collect sales tax in North Dakota on the following items:

  • Accessories
  • Processed Items
  • Copper
  • Numismatics
  • Gold, Silver, Platinum, and Palladium bullion below .999 purity

Ohio Sales Tax

American Alternative Assets is required to collect sales tax in Ohio on the following items:

  • Accessories
  • Processed Items
  • Copper
  • Bullion below .995 purity
  • Coins containing less than 50% precious metal content

Oklahoma Sales Tax

American Alternative Assets is required to collect sales tax in Oklahoma on the following items:

  • Accessories
  • Processed Items
  • Copper

Pennsylvania Sales Tax

American Alternative Assets is required to collect sales tax in Pennsylvania on the following items:

  • Accessories
  • Processed Items
  • Copper

Rhode Island Sales Tax

American Alternative Assets is required to collect sales tax in Rhode Island on the following items:

  • Accessories
  • Processed Items
  • Copper

South Carolina Sales Tax

American Alternative Assets is required to collect sales tax in South Carolina on the following items:

  • Accessories
  • Processed Items
  • Copper
  • Palladium

South Dakota Sales Tax

American Alternative Assets is required to collect sales tax in South Dakota on the following items:

  • Accessories
  • Processed Items
  • Copper
  • Numismatics

Texas Sales Tax

American Alternative Assets is required to collect sales tax in Texas on the following items:

  • Accessories
  • Processed Items
  • Copper
  • Palladium Coins and Bullion
  • Platinum Coins

Tennessee Sales Tax

American Alternative Assets is required to collect sales tax in Tennessee on the following items:

  • Accessories
  • Processed Items

Utah Sales Tax

American Alternative Assets is required to collect sales tax in Utah on the following items:

  • Accessories
  • Processed Items
  • Copper
  • Palladium
  • Any Metal Product below .500 purity

Vermont Sales Tax

American Alternative Assets is required to collect sales tax in Vermont on the following items:

  • All Products

Virginia Sales Tax

American Alternative Assets is required to collect sales tax in Virginia on the following items:

  • Copper Bullion
  • Palladium Bullion
  • Numismatic Bullion
  • Accessory Items
  • Processed Items

Washington Sales Tax

American Alternative Assets is required to collect sales tax in Washington on the following items:

  • Accessories
  • Processed Items
  • Copper

Washington D.C. Sales Tax

American Alternative Assets is required to collect sales tax in Washington D.C. on the following items:

  • All Products

West Virginia Sales Tax

American Alternative Assets is required to collect sales tax in West Virginia on the following items:

  • Accessories
  • Processed Items
  • Copper

Wisconsin Sales Tax

American Alternative Assets is required to collect sales tax in Wisconsin on the following items:

  • Accessories
  • Gold, Silver, Platinum, Palladium, and Copper bullion with less than 35% metal content
  • Other personal property that contains, in whole or in part, precious metal bullion, such as jewelry, works of art, scrap metal, or electronics

Wyoming Sales Tax

American Alternative Assets is required to collect sales tax in Wyoming on the following items:

  • Accessories
  • Processed Items
  • Copper
  • Gold or silver coins not used as mediums of exchange
  • Gold or silver bullion which is not coined, stamped or imprinted with its weight and purity and valued primarily based on its metal content and not its form

For a full breakdown of applicable sales tax by state, visit our Sales Tax Guide or contact Customer Support at (888) 615-8047.

Additional Considerations

Some states have exemptions for certain precious metals transactions based on value thresholds. For example:

  • California: Sales tax applies to bullion purchases under $2,000.
  • Florida: Coins and bullion are taxed if the total transaction is under $500.
  • New York: Precious metals are taxable if the total purchase is $1,000 or less.

Before placing your order, review the tax rules applicable to your state to ensure you understand any obligations.

Tax Policy Updates

State tax laws frequently change. If new regulations impact your order, we will update our policy accordingly to remain compliant with the latest legal requirements.

If you have questions regarding taxes on your purchase, please contact Customer Care at (888) 615-8047 or email [email protected] for assistance.