Sales tax by APMEX?
DeutscherGeist
Posts: 2,990 ✭✭✭✭
I recently purchased bullion on APMEX over the phone, and sales tax were collected. I live in CA. They told me that I am in a state where sales tax must be collected. This is the first time this happened to me. It caught me by surprise. This would price out most of the coins I would buy from them. Maybe I have to wait for the Long Beach Show.
"So many of our DREAMS at first seem impossible, then they seem improbable, and then, when we SUMMON THE WILL they soon become INEVITABLE "- Christopher Reeve
BST: Tennessebanker, Downtown1974, LarkinCollector, nendee
BST: Tennessebanker, Downtown1974, LarkinCollector, nendee
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APMEX sales tax listing.
https://www.apmex.com/state-sales-tax-information?force-full-site=1
I see now that it is a new procedure in place for APMEX, but it still caught me off guard. It changes how I shop. Next time, I will make sure the order exceeds $1500 dollars.
BST: Tennessebanker, Downtown1974, LarkinCollector, nendee
They are supposed to collect sales tax also. After all, all honest dealers,which is the only ones you would want to buy from, collect sales tax, per the legal requirements.
Would you buy from someone who routinely violates the law?
I have never found Apmex to be competitive on coins. Bullion, yes.
bob
APMEX lists coins that other dealers are actually in possession of. Look around for the coin on other sites before buying from APMEX. The real seller will usually be cheaper
I bought an 1877-CC half PC61 around 2011 for 699 from them. 5 days later I had 1000 in my pocket.
I think I even sold it too cheap.
EAC 6024
Unfortunately, they are one of the early users of the new internet sales tax law for many states. They have not applied it to where my inlaws are yet, so I occasionally send things there. Once they start charging to all states, it will really hurt their business.
As usual, they have Washington State wrong. They have exempted bullion, but not numismatic coins. All coins are exempt under Washington State law. Either APMEX has it wrong, or EVERY coin shop in the entire state of Washington is wrong. I think I know which is wrong in this case.
At least eBay has finally corrected the exemption of sales tax for Washington.
I recently noticed that gold I had put into my Apmex cart a few months ago now has sales tax added.
I emptied my cart and will be buying bullion at shows instead.
For cheaper generic goods you can still hunt around the net for vendors who are not yet collecting sales tax.
This law has to damage ebay, auction houses, and other sellers of high-priced goods.
Commems and Early Type
Temporarily. Ultimately, if the states enforce their tax laws, everyone will be forced to comply.