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Virginia Bullion Sales Taxes

Virginia Precious Metals Tax Information

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

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

What Precious Metals Are Taxed?

Taxes must be collected on bullion products made of Copper or Palladium if not legal tender; coins that are mediums of exchange if a single sales transaction is less than $1,000; numismatic coins that cannot be used as mediums of exchange and if a single sales transaction is less than $1,000; any sale of Gold, Silver or Platinum bullion if a single sales transaction is less than $1,000; any sale of Gold, Silver or Platinum bullion if such metals have not gone through a refining process; accessory items; and processed items. All other products sold by APMEX are exempt from these taxes.

Taxable Products in Virginia

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

    • Bullion. Gold, Silver or Platinum, and any combination thereof, that is valued solely upon its Precious Metal content, whether in coin or bar form, must be of purity of 90% or above.
    • Coin. A small, flat, round piece of metal which is, or has been used as, legal tender, with a number showing its value and often a decorative picture.
    • Legal Tender. Coins that must be accepted if offered in payment of a debt.
    • Single Sales Transaction. Determined per invoice, and not on a line-item basis. Where a single sales transaction includes a taxable item, the price of the taxable item may not be considered in calculating the total price.
    • Numismatic Coins. Coins with an external value of 120% or more beyond the base value of the underlying Precious Metal, due to the item’s rarity, condition, age or other external factor.
    • Medium of Exchange. Coins or currency accepted as a measure of value and a standard of exchange for goods and services.
    • 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 Virginia Calculate Precious Metals Taxes?

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