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Utah Bullion Sales Taxes

Utah Precious Metals Tax Information

The state of Utah requires the collection of sales taxes on certain products sold by APMEX and delivered to a Utah address.

Please note: The below is not a comprehensive description of sales tax laws and requirements in the state of Utah. 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 Utah that relate to the reader’s transactions with APMEX.

What Precious Metals Are Taxed?

Taxes must be collected on paper currency; any coins that do not constitute legal tender of any state, the United States, or any foreign country; Copper products; Palladium products; any bullion products made of Gold, Silver or Platinum if the Gold, Silver or Platinum content is less than 50%; accessory items and processed items. All other products sold by APMEX are exempt from these taxes.

Taxable Products in Utah

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

    • Paper Currency. Legal tender no longer in circulation in the form of paper bills.
    • Legal Tender. Money issued by a sovereign government as a medium of exchange.
    • Certain Currency. Currency that is not designated as legal tender or does not circulate and is not customarily used and accepted as a medium of exchange in the country of issuance.
    • 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 Utah Calculate Precious Metals Taxes?

Sales taxes in Utah are calculated at checkout on the APMEX website based on (1) the taxability of products sold by APMEX in Utah set forth above, and (2) the specific tax rates established by the taxing jurisdiction of the delivery address in Utah.APMEX began collecting sales taxes in Utah in January 2019.

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.