Will I need to pay sales tax on any items purchased in a Stack’s Bowers Galleries auction?
Unless you have a valid resale certificate on file with Stack’s Bowers Galleries, purchases made in/or shipped to certain locations are subject to local state tax laws. Below are some guidelines for your reference. These may not be a complete representation of all applicable sales tax laws in all jurisdictions, so please consult your local taxation laws prior to bidding.
Alabama
Foreign Coins & Currency are taxable. U.S. Coins, U.S. Currency & Bullion are exempt.
Alaska
Coins, Currency & Bullion are tax exempt.
Arizona
Coins & Bullion are tax exempt. Currency is taxable.
Arkansas
Coins, Currency & Bullion are tax exempt.
California
Coins & Bullion are only taxable on invoices less than $2,000. Currency is taxable.
Colorado
Coins & Bullion are tax exempt. Currency is taxable.
Connecticut
Coins are tax exempt. Currency & Bullion are only taxable for invoices less than $1,000.
Delaware
Coins, Currency & Bullion are tax exempt.
Florida
Coins and Currency are only taxable on invoices of Foreign or Confederate material less than $500. Bullion is only taxable on invoices less than $500.
Georgia
Coins, Currency & Bullion are tax exempt.
Hawaii
Coins, Currency & Bullion are taxable.
Idaho
Coins & Bullion are tax exempt. Currency is taxable.
Illinois
Coins, Currency & Bullion are tax exempt. Other items are taxable.
Indiana
Coins, Currency & Bullion are tax exempt.
Iowa
Coins, Currency & Bullion are tax exempt.
Kansas
Coins comprised of gold and silver are tax exempt. Bullion is tax exempt. Currency is taxable.
Kentucky
Coins, Currency & Bullion are taxable.
Louisiana
Coins are only taxable on invoices over $1,000. Currency is taxable. Bullion is tax exempt for Platinum, Gold, and Silver that is valued solely upon its precious metal content, whether in coin or ingot form.
Maine
Coins, Currency & Bullion are taxable.
Maryland
Coins & Bullion are only taxable on invoices less than $1,000. Currency is taxable.
Massachusetts
Coins & Bullion are only taxable on invoices less than $1,000. Currency is taxable.
Michigan
Coins & Bullion are tax exempt. Currency is taxable.
Minnesota
Coins, Currency & Bullion are taxable except for bullion bars and rounds.
Mississippi
Coins, Currency & Bullion are tax exempt (effective 7/1/23).
Missouri
Currency is taxable. Coins & Bullion are tax exempt.
Montana
Coins, Currency & Bullion are tax exempt.
Nebraska
Coins, Currency & Bullion are tax exempt.
Nevada
Coins & Currency are taxable. Bullion is tax exempt.
New Hampshire
Coins, Currency & Bullion are tax exempt.
New Jersey
Coins, Currency & Bullion are taxable.
New Mexico
Coins, Currency & Bullion are taxable.
New York
Coins & Currency are taxable.
Bullion is tax exempt under the following conditions:
• Silver bullion coins that sell for less than 140% of their melt price.
• Gold bullion coins that weigh ¼ oz or less that sell for less than 120% of their melt price.
• Gold bullion coins that weigh more than ¼ oz that sell for less than 115% of their melt price.
• Gold or silver BARS and ROUNDS, platinum and palladium that sell for less than 115% of their melt price.
North Carolina
Coins, Currency & Bullion are tax exempt.
North Dakota
Coins, Currency & Bullion are tax exempt.
Ohio
U.S. & World coins comprised (more than 50%) primarily of gold, silver, platinum or palladium are tax exempt. Currency is taxable.
Bullion is tax exempt under the following conditions:
• Gold bullion with a minimum fineness of .995%
• Silver bullion with a minimum fineness of .999%
• Platinum bullion with a minimum fineness of .9995%
• Palladium bullion with a minimum fineness of .9995%
Oklahoma
Coins & Bullion are tax exempt. Currency is taxable.
Oregon
Coins, Currency & Bullion are tax exempt.
Pennsylvania
Coins & Bullion are tax exempt. Currency is taxable.
Rhode Island
Coins & Bullion are tax exempt. Currency is taxable.
South Carolina
Coins, Currency & Bullion are tax exempt.
South Dakota
Coins, Currency & Bullion are tax exempt.
Tennessee
Coins, Currency & Bullion are tax exempt.
Texas
Coins & Bullion are tax exempt. Currency is taxable.
Utah
Coins, Currency & Bullion are tax exempt.
Vermont
Coins, Currency & Bullion are taxable.
Virginia
Coins & Bullion are tax exempt. Currency is taxable.
Washington
Coins & Bullion are tax exempt. Currency is taxable.
West Virginia
Coins, Currency & Bullion are tax exempt.
Wisconsin
Coins & Currency are taxable. Bullion is exempt.
Wyoming
Coins, Currency & Bullion are tax exempt.
District of Columbia
Coins, Currency & Bullion are taxable.
Will I need to pay import tariffs?
On September 1, 2019 the United States enacted new tariffs on collector’s items of Chinese origin, including bullion and numismatic coins and banknotes. Lots marked with (t) indicate the lot was manufactured in China and was sourced from outside the United States after the tariffs were enacted. Accordingly, any client who wishes to take delivery of this item within the United States will be subject to a 7.5% import Tariff plus a processing fee of 0.3464% (minimum $27.75 / maximum $538.40), subject to change. Please note, this is not intended to be a complete description of the applicable import tariffs and the buyer remains fully liable for and agrees to promptly pay all tariffs and fees relating to the import of these items into the United States. Please consult your tax advisor with any questions.
