West Virginia Precious Metals Tax Information
The state of West Virginia requires the collection of sales taxes on certain products sold by APMEX and delivered to an West Virginia address.
Please note: The below is not a comprehensive description of sales tax laws and requirements in the state of West Virginia. 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 West Virginia that relate to the reader’s transactions with APMEX.
- What Precious Metals Are Taxed?
Taxes must be collected on Copper products, Currency, Non-investment Metal Bullion and Non-investment Coins, and commemorative medallions. All other products sold by APMEX are exempt from these taxes.
- Taxable Products in West Virginia
The following definitions apply to products on which these taxes must be collected in West Virginia:
- Currency. Money issued by a government that is designated as legal tender in its country of issue through government decree, regulation, or law.
- Non-investment Metal Bullion. 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.
- Non-investment Coins. Coins that are neither numismatic coins nor other forms of money and legal tender manufactured of Gold, Silver, Platinum, Palladium, or other metal of the United States or any foreign nation with a fair market value greater than any nominal value of such coins. Commemorative medallions are considered non-investment coins.
- 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 West Virginia Calculate Precious Metals Taxes?
Sales taxes in West Virginia are calculated at checkout on the APMEX website based on (1) the taxability of products sold by APMEX in West Virginia set forth above and (2) the specific tax rates established by the taxing jurisdiction of the delivery address in West Virginia.
APMEX began collecting sales taxes in West Virginia in January 2019. West Virginia enacted legislation effective July 1, 2019, exempting certain products that APMEX sells from sales tax.