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Florida Bullion Sales Taxes

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:

    • 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.

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.