South Dakota Precious Metals Tax Information
The state of South Dakota requires the collection of sales taxes on certain products sold by APMEX and delivered to a South Dakota address.
Please note: The below is not a comprehensive description of sales tax laws and requirements in the state of South Dakota. 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 South Dakota that relate to the reader’s transactions with APMEX.
- What Precious Metals Are Taxed?
Taxes must be collected on Copper products, certain numismatic products, coins not issued as legal tender, accessory items and processed items. All other products sold by APMEX are exempt from these taxes.
- Taxable Products in South Dakota
The following definitions apply to products on which these taxes must be collected in South Dakota:
- 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 South Dakota Calculate Precious Metals Taxes?
Sales taxes in South Dakota are calculated at checkout on the APMEX website based on (1) the taxability of products sold by APMEX in South Dakota set forth above and (2) the specific tax rates established by the taxing jurisdiction of the delivery address in South Dakota.
APMEX began collecting sales taxes in South Dakota in November 2018.