Florida Precious Metals Tax Information
The state of Florida requires the collection of sales taxes on certain products sold by APMEX and delivered to a Florida address.
Please note: The below is not a comprehensive description of sales tax laws and requirements in the state of Florida. 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 Florida that relate to the reader’s transactions with APMEX.
What Precious Metals Are Taxed?
Taxes must be collected on (1) bullion, non-US coins, or non-US numismatic coins if the total amount of a single sales transaction is less than $500; (2) non-US currency; (3) Copper; (4) accessory items; and (5) processed items. All other products sold by APMEX are exempt from these taxes.
Taxable Products in Florida.
The following definitions apply to products on which these taxes must be collected in Florida:
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- Bullion. Bullion means gold, silver, platinum or palladium in the form of bars or ingots normally sold by weight.
- Non-US Coins. Stamped piece(s) of metal of a known weight and fineness with a stated face value that are issued by a sovereign government.
- Non-US Currency. Money issued by a sovereign government in any paper form when in actual use or circulation as a medium of exchange.
- Single Sales Transaction. Determined per invoice, not on a line-item basis.
- 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 Florida Calculate Precious Metals Taxes?
Taxes in Florida are calculated at checkout on the APMEX website based on (1) the taxability of products sold by APMEX in Florida set forth above and (2) the specific tax rates established by the taxing jurisdiction of the delivery address in Florida.APMEX began collecting taxes in Florida in July 2021.
