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Alabama Bullion Sales Taxes

Alabama Precious Metals Tax Information

The state of Alabama requires the collection of a flat-rate Simplified Sellers Use Tax of 8% on certain products sold by APMEX and delivered to an Alabama address.

Please note: The below is not a comprehensive description of sales tax laws and requirements in the state of Alabama. It is only intended to provide the reader with a brief overview of those sales tax laws and requirements currently in effect in the state of Alabama that relate to the reader’s transactions with APMEX.

What Precious Metals Are Taxed?

Taxes must be collected on Copper products, certain bullion items less than .90 fine, certain numismatic products, foreign or non-circulating coins, accessory items and processed items. All other products sold by APMEX are exempt from these taxes.

Taxable Products in Alabama

The following definitions apply to products on which these taxes must be collected in Alabama:

    • Numismatic Products. Products with an external value above and beyond the base value of the underlying Precious Metal, due to the item’s rarity, condition, age or other external factor.
    • Foreign or Non-circulating Coins. Coins not used as a circulating medium of exchange in the United States.
    • Accessory Items. Items such as holders, tubes or coin flips.
    • Processed Items. Precious Metals that have been processed by third parties into items valued on more than their Precious Metal content, such as jewelry, statues or colorized coins.

How Does Alabama Calculate Precious Metals Taxes?

According to Alabama law (Rule 810-6-2-.90.02 Simplified Sellers Use Tax Remittance Program), APMEX is required to notify its Alabama customers of the following:

  • APMEX, Inc. has collected the Simplified Sellers Use Tax on certain transactions delivered into Alabama and the tax will be remitted on the customer’s behalf to the Alabama Department of Revenue.
  • APMEX, Inc.’s program account number is SSU-R010088837

Taxes in Alabama are calculated at checkout on the APMEX website based on (1) the taxability of products sold by APMEX in Alabama set forth above and (2) the Alabama Simplified Sellers Use Tax rate of 8%.

APMEX began collecting taxes in Alabama in October 2018.

Quick Guides to Investing

Step 1:

Why Buy Physical Gold and Silver?

If you are concerned about the volatility of the stock market, you’re not alone. The extreme highs and lows of the stock market often lead investors towards safe-haven assets, like bullion. Historically, the Precious Metals market has an inverse relationship with the stock market, meaning that when stocks are up, bullion is down and vice versa.

Step 2:

How Much Gold and Silver Should You Have?

This question is one of the most important for investors to answer. After all, experts suggest limits on how much of any types of investments should go into a portfolio. After deciding to purchase and own Precious Metals and considering how much money to allocate, one can then think about how much and what to buy at any point in time.

Step 3:

Which Precious Metals Should I Buy?

With the frequent changes in the market and countless Precious Metal products available, choosing investments can be difficult. Some want Gold or Silver coins, rounds or bars while others want products that are valuable because of their design, mintage or other collectible qualities. Also, collectors may shop for unique sets and individual pieces for their collections.

Step 4:

When to Buy Gold & Silver

After considering why, how much, and what Precious Metals products to buy, an investor’s next step is when to buy them. This decision requires an understanding of market trends and the impact of economic factors on precious metal prices.