Connecticut Precious Metals Tax Information
The state of Connecticut requires the collection of taxes on certain products sold by APMEX and delivered to a Connecticut address.
Please note: The below is not a comprehensive description of sales tax laws and requirements in the state of Connecticut. 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 Connecticut that relate to the reader’s transactions with APMEX.
- What Precious Metals Are Taxed?
Taxes must be collected on Platinum products, Palladium products, Copper products, certain numismatic products, accessory items, processed items and any single transaction comprised of Gold and/or Silver totaling less than $1,000. All other products sold by APMEX are exempt from these taxes.
- Taxable Products in Connecticut
The following definitions apply to products on which these taxes must be collected in Connecticut:
- Numismatic Products. Products with an external value above and beyond the base value of the underlying Precious Metal, due to the item’s rarity, condition, age or other external factor.
- 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 Connecticut Calculate Precious Metals Taxes?
Taxes in Connecticut are calculated at checkout on the APMEX website based on (1) the taxability of products sold by APMEX in Connecticut set forth above and (2) the specific tax rates established by the taxing jurisdiction of the delivery address in Connecticut.
APMEX began collecting taxes in Connecticut in December 2018.