Texas Precious Metals Tax Information
The state of Texas requires APMEX to collect sales taxes on certain products sold by APMEX and delivered to a Texas address.
Please note: The below is not a comprehensive description of sales tax laws and requirements in the state of Texas. 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 Texas that relate to the reader’s transactions with APMEX.
- What Precious Metals Are Taxed?
Taxes must be collected on Palladium Bullion products, Platinum and Palladium Bullion Coins, certain Currency, certain Copper products, accessory items, and processed items. All other products sold by APMEX are exempt from these taxes.
- Taxable Products in Texas
The following definitions apply to products on which taxes must be collected in Texas:
- Palladium Bullion. Palladium Precious metal that is formed into uniform shapes and quantities with uniform content and purity.
- Platinum and Palladium Bullion Coins. A stamped piece of Platinum or Palladium of a known weight and fineness that is issued by a sovereign government. Value is based on metal content.
- Certain Currency. Currency that is not designated as legal tender or does not circulate and is not customarily used and accepted as a medium of exchange in the country of issuance.
- Accessory Items. Items such as holders, tubes or coin flips.
- Processed Items. Precious metals that have been processed by third parties into items that are valued on more than their precious metal content, such as jewelry, statues or colorized coins.
- How Does Texas Calculate Precious Metals Taxes?
Sales taxes in Texas are calculated at checkout on the APMEX website based on (1) the taxability of products sold by APMEX in Texas set forth above and (2) the specific tax rates established by the taxing jurisdiction of the delivery address in Texas.
APMEX began collecting sales taxes in Texas in October 2019.