How Many States Actually Collect Sales Tax on Coins

NY does, including bullion under $1000

@pocketpiececommems said:
I know California does for one.

Only if its under $2,000. Anything over that amount is free of sales tax.

Here in Illinois there is no sales tax on coins, bullion or currency but that still doesn't stop some places like antique malls from trying to charge it. Of course, we have a resale number so we wouldn't have to pay regardless, but on the rare occasions when I buy anything numismatic at such a place, I usually hear something to the effect of "anything under our roof is considered antiques and is therefore taxable". Translation...We pocket the "tax" collected on coins/currency/bullion.

@telephoto1 said:
Here in Illinois there is no sales tax on coins, bullion or currency but that still doesn't stop some places like antique malls from trying to charge it. Of course, we have a resale number so we wouldn't have to pay regardless, but on the rare occasions when I buy anything numismatic at such a place, I usually hear something to the effect of "anything under our roof is considered antiques and is therefore taxable". Translation...We pocket the "tax" collected on coins/currency/bullion.

There is a LCS where I live here in Texas that tries the same thing for coins. They argued with me until I told them that I was just going to buy from their eBay listing then all of a sudden remembered they were making a mistake on taxes.

Colorado does unless the item has precious metal content.

@jmlanzaf said:

@PerryHall said:
I knew a few coin dealers that didn't charge you sales tax if they knew you, you paid in cash, and you didn't ask for a receipt.

How did they get permission from the state tax bureau? 😈

There are two ways.

1. You take the price paid, back out the tax, and remit it. $1100 less 8.25% means a sale recorded on the books as $1,016.17 and tax of $83.83.
2. You lie on your sales tax return and hope you don't get caught.

@oldabeintx said:
eBay has been hitting me with taxes recently, even though I’m a Texas resident. Are the sellers now required to collect taxes on eBay sales if their home date charges? Tried to find out what’s up by contacting eBay, unsuccessfully. Something new is afoot.

If you're a TX resident then there should be no sales tax on coins, but on paper money and most other stuff, yes.

They did this to me in Florida a couple years ago. Constant battle with them. I finally stopped buying through them. At some point it was fixed.

Also in Colorado, cities can charge sales tax on coins and bullion even when the State does not.

@Relaxn said:
I won a lot today and there are 138$ in taxes added to my lot... I contact the seller... no response.
It is world gold on ebay...
I am in Texas

The dealer is going to tell you it's not him but Ebay
In that case tell him to void the sale until HE gets it right with Ebay

I've posted on this before, Sales Tax is freakishly complex. There are over 10,000 taxing districts in the US.

There are a couple of companies that make their living with software that determines whether tax should be collected and what amount. But at the end of the day, the software isn't magic. It depends on the description and category the item for sale is listed under.

If you list those gold coins as both coins and collectibles, in Texas one is taxable, the other isn't. How is the software to know? For that matter, how would a seller in, say Oklahoma, be knowledgeable enough about Texas law to provide guidance to the software????

Software like this is written under an 80-20 or 90-10 rule - if you get 80% right, you manually fix the other 20%.

NM requires sales tax on coins (and pretty much everything besides food). I don’t know if there are exemptions for bullion or certain values (doubt it, though)

@GAC said:

@pocketpiececommems said:
I know California does for one.

Only if its under $2,000. Anything over that amount is free of sales tax.

Welcome, first off. That seems to be an unfair tax on the poor, doesn't it ?
Then again, it is called " The Hobby of Kings."

@alaura22 said:

@jmlanzaf said:

@alaura22 said:

@Relaxn said:
I won a lot today and there are 138$ in taxes added to my lot... I contact the seller... no response.
It is world gold on ebay...
I am in Texas

The dealer is going to tell you it's not him but Ebay
In that case tell him to void the sale until HE gets it right with Ebay

That's funny.

Why is that funny?
It happened to me before ebay fixed it, the dealer told me that he wasn't charging the tax ebay was and I should contact them to get it fixed. I told him YOU contact them and get it fixed otherwise cancal the deal. He didn't, I canceled and moved on.
The end

Unfair to the seller,,,,,,,, nothing he could have done about the tax,,,,,,, eBay would have to fix it.

@alaura22 said:

@jmlanzaf said:

@alaura22 said:

@Relaxn said:
I won a lot today and there are 138$ in taxes added to my lot... I contact the seller... no response.
It is world gold on ebay...
I am in Texas

The dealer is going to tell you it's not him but Ebay
In that case tell him to void the sale until HE gets it right with Ebay

That's funny.

Why is that funny?
It happened to me before ebay fixed it, the dealer told me that he wasn't charging the tax ebay was and I should contact them to get it fixed. I told him YOU contact them and get it fixed otherwise cancal the deal. He didn't, I canceled and moved on.
The end

It's funny because dealers do NOT charge the sales tax and also can't be expected to know the rules in 10,000 different taxing jurisdictions as well as hundreds of foreign duties and taxes.

@jmlanzaf said:

@alaura22 said:

@GRANDAM said:

@alaura22 said:

@jmlanzaf said:

@alaura22 said:

@Relaxn said:
I won a lot today and there are 138$ in taxes added to my lot... I contact the seller... no response.
It is world gold on ebay...
I am in Texas

The dealer is going to tell you it's not him but Ebay
In that case tell him to void the sale until HE gets it right with Ebay

That's funny.

Why is that funny?
It happened to me before ebay fixed it, the dealer told me that he wasn't charging the tax ebay was and I should contact them to get it fixed. I told him YOU contact them and get it fixed otherwise cancal the deal. He didn't, I canceled and moved on.
The end

Unfair to the seller,,,,,,,, nothing he could have done about the tax,,,,,,, eBay would have to fix it.

I agree, but it should not be the problem for buyer, the seller would have more of a chance to get it fixed

It is the problem of ebay and the buyer. The sales tax is levied by ebay and based on the buyer's location.

Sometimes it just makes more sense to the buyer to just cancel a sale rather than going through the aggravation of dealing with the eBay bureaucracy.