Indiana Precious Metals Tax Information
The state of Indiana requires the collection of sales taxes on certain products sold by APMEX and delivered to an Indiana address.
Please note: The below is not a comprehensive description of sales tax laws and requirements in the state of Indiana. 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 Indiana that relate to the reader’s transactions with APMEX.
- What Precious Metals Are Taxed?
Taxes must be collected on Copper products, any 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, numismatic products, accessory items and processed items.
The state of Indiana also exempts sales of certain coins that are permitted investments by an individual retirement account or an individually directed account. Specifically, approved coins include American Eagles, Proof American Eagles, coins issued under the laws of any state and United States legal tender.
- Taxable Products in Indiana
The following definitions apply to products on which these taxes must be collected in Indiana:
- 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 Indiana Calculate Precious Metals Taxes?
Sales taxes in Indiana are calculated at checkout on the APMEX website based on (1) the taxability of products sold by APMEX in Illinois set forth above and (2) the specific tax rates established by the taxing jurisdiction of the delivery address in Indiana.
APMEX began collecting sales taxes in Indiana in October 2018.