How do you avoid sales tax when buying silver?

Coins and currencies that are legal tender in the U.S. UU. How to avoid metal sales tax So how can you, as a tax-paying precious metals owner, avoid paying more than necessary in sales taxes for your metal purchases? The simple answer is to store your metals overseas or in one of five states that currently do not charge sales taxes. Precious metal bars and ingots, with respect to precious metal ingots and ingots, the receipt or consideration granted or contracted depends only on the metal content of precious metal ingots and ingots if, at the time of retail sale or purchase, the receipt or consideration does not exceed 115 percent of the daily closing cash price in metal ingots precious in question on the open market.

If there is no such closing price for such metal, the closing price should be replaced by the average of the offered and requested cash prices for the business day immediately preceding the day of retail sale or purchase. The sale is tax-free, since the selling price of the coins did not exceed 140 percent of the daily closing cash price of silver bars and the other requirements in this section are met. The selling price of the currency exceeds 115 percent of both the value of the currency's metallic content and the nominal value of the currency at the current exchange rate.

Christine Raiford
Christine Raiford

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