Ohio Precious Metals Tax Information
The state of Ohio requires the collection of sales taxes on certain products sold by APMEX and delivered to an Ohio address.
Please note: The below is not a comprehensive description of sales tax laws and requirements in the state of Ohio. 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 Ohio that relate to the reader’s transactions with APMEX.
What Precious Metals Are Taxed?
Taxes must be collected on:
- Paper Currency
- Copper Products
- Non-coin Precious Metal products not considered Investment Bullion meaning Gold products with a purity less than .995 fine, any Silver products with a purity less than .999 fine, any Platinum products with a purity less than .9995 fine, any Palladium products with a purity less than .9995 fine.
- Coin products not considered Investment Coin products meaning coins made of Gold, Silver, Platinum, or Palladium if the Gold, Silver, Platinum, or Palladium content is less than 50%.
Taxable Products In Ohio
The following definitions apply to products on which these taxes must be collected in Ohio:
- 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.
- Paper Currency. Legal tender no longer in circulation in the form of paper bills.
How Does Ohio Calculate Precious Metals Taxes?
Sales taxes in Ohio are calculated at checkout on the APMEX website based on (1) the taxability of products sold by APMEX in Ohio set forth above and (2) the specific tax rates established by the taxing jurisdiction of the delivery address in Ohio.APMEX collects sales tax in Ohio based on the law that was effective October 1st, 2021.