Maryland Precious Metals Tax Information
The state of Maryland requires the collection of sales taxes on certain products sold by APMEX and delivered to a Maryland address.
Please note: The below is not a comprehensive description of sales tax laws and requirements in the state of Maryland. 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 Maryland that relate to the reader’s transactions with APMEX.
- What Precious Metals Are Taxed?
Taxes must be collected on Copper products; any single transaction of Gold, Silver, Platinum or Palladium less than $1,000; numismatic coins less than $1,000; coins that are not or have not been used as mediums of exchange of the United States or any foreign country; accessory items; and processed items. All other products sold by APMEX are exempt from these taxes.
- Taxable Products in Maryland
The following definitions apply to products on which these taxes must be collected in Maryland:
- 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.
- 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 Maryland Calculate Precious Metals Taxes?
Sales taxes in Maryland are calculated at checkout on the APMEX website based on (1) the taxability of products sold by APMEX in Maryland set forth above and (2) the specific tax rates established by the taxing jurisdiction of the delivery address in Maryland.
APMEX began collecting sales taxes in Maryland in October 2018.