Wisconsin Bullion Tax Laws....
Coll3ctor
Posts: 3,333 ✭✭✭
Does anyone know if the recently passed tax exemption for bullion in the state of Wisconsin also includes collector coins that have precious metal content?
eBay is giving me a hard time again... 
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Try this link:
https://docs.legis.wisconsin.gov/2023/related/acts/149
I’m NOT A LAWYER, but it looks TO ME like coins are also exempt. Maybe an actual attorney could read this short statute and chime in….
30+ years coin shop experience (ret.) Coins, bullion, currency, scrap & interesting folks. Loved every minute!
"or that a government authority minted on the basis of weight, purity, and content."
This seems to cover all but base metal coinage, although even the weight, purity, and content of these is always specified by law. It would seem not to cover Zincolns, steel cents, Canadian nickel coinage and the like unless the text:
"For purposes of this subsection, “precious metal bullion” means coins, bars, rounds, or sheets that contain at least 35 percent gold, silver, copper, platinum, or palladium and that are marked with weight, purity, and content or that a government authority minted on the basis of weight, purity, and content."
actually means
"For purposes of this subsection, “precious metal bullion” means coins, bars, rounds, or sheets that a government authority minted on the basis of weight, purity, and content or that contain at least 35 percent gold, silver, copper, platinum, or palladium and that are marked with weight, purity, and content."
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
Ebay just did the same thing to me in Pa. charged me tax on a coin purchased I just bought a coin one month ago from the same Dealer and had No Tax, Dealer explained Ebay does this nothing he could change on his end, I tried to contact Ebay but no help!!!
It's impossible to talk to a person. Facebook messenger is about the only way.
There is definitely a broken system that has each individual state being controlled by an entity / venue that makes up the rule as to when it is applied, how it is applied and who it is applied to ( the consumer, as always).
And nobody held to an accounting except the individual. Enjoy life. This is the norm.
Wouldn't the wording "and that are marked with weight, purity, and content" mean collector coins are not exempt? AGEs and ASEs are so marked; but, of course, collector coins aren't.
Coinlearner, Ahrensdad, Nolawyer, RG, coinlieutenant, Yorkshireman, lordmarcovan, Soldi, masscrew, JimTyler, Relaxn, jclovescoins
Now listen boy, I'm tryin' to teach you sumthin' . . . . that ain't an optical illusion, it only looks like an optical illusion.
My mind reader refuses to charge me....
I think that is what they are trying to awkwardly get across.
I can go through items in the "bullion" section and click on "buy it now" but not complete the purchase. Some items will charge me sales tax and others will not it's hit & miss.
It appears that the NCBA was involved in getting this legislation passed.
According to this APR-2024 article in CW, they interpret the statute to include collector coins, as long as they meet the PM requirement, because of the provision about government minting.
Source: https://www.coinworld.com/news/precious-metals/wisconsin-grants-precious-metal-bullion-tax-exemption
It would be simpler if these laws were written in code, thus:
x.preciousMetalBullion = false; enoughPM = x.copper() >= 0.35 || x.gold() >= 0.35 || x.silver() >= 0.35 || x.palladium() >= 0.35 || x.platinum() >= 0.35; if (enoughPM && (x.labeledWtPurityContent() || x.mintedByGovtBlaBla())) x.preciousMetalBullion = true;which is different from
... if (x.mintedByGovtBlaBla() || (enoughPM && x.labeledWtPurityContent())) x.preciousMetalBullion = true;The latter captures more coins.
Keeper of the VAM Catalog • Professional Coin Imaging • Prime Number Set • World Coins in Early America • British Trade Dollars • Variety Attribution
It's always been this way. Laws say one thing and each lawyer interprets them differently. Police can't enforce the letter of the law because literally millions of laws exist and nobody really knows what any of them mean.
The only difference now days is that everyone just does what the computer tells them to and now we are in a transition to everyone just does what AI thinks the computer wants and can't answer any questions any more than the phone tree could.
Good luck out there. As always just try to do what's right and hope for the best. it does usually work.
And good luck not getting overcharged at the grocery store and everywhere else. Some stores won't even honor the price on the shelf AFTER you catch them.
Go through the support options until you eventually can chat with an agent. Then give them the order # and that collector coins are not taxable when delivered to a PA address. The agent can't refund the tax, but can put in a ticket to the backend team that does. Make sure you get the ticket #. I've been doing this for months.
ANA 50 year/Life Member (now "Emeritus")
I realize that everyone may interpret this statute differently, but for what it is worth I asked Stacks their policy. This is their reply:
There has been some back and forth with sales tax in Wisconsin.
The final verdict i: Currency & Numismatic Americana are taxable. Coins & Bullion are exempt.
Best regards,
Garrett Cleary
Client Services Associate | Stack's Bowers Galleries