The 10.1% WA sales tax has taken the wind out of my numismatic sails.

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Lakesammman
Lakesammman Posts: 17,696 ✭✭✭✭✭
in U.S. Coin Forum

I know the tax on coins/currency/bullion has been discussed, but I didn't realize how it would affect my shopping habits.

Bought a coin on GC the other day and forgot about the tax, about $125.

I'm definitely spending a lot less time shopping on line for coins........

Gone but not forgotten: IGWT, Speedy, Bear, BigE, HokieFore, John Burns, Russ, TahoeDale, Dahlonega, Astrorat, Stewart Blay, Oldhoopster, Ricko, Big Moose, Cardinal, CoinsAreFun.
«134

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  • cameonut2011
    cameonut2011 Posts: 10,863 ✭✭✭✭✭
    edited May 2, 2026 3:53PM
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    With many auction houses at 22+% commissions and a sales tax that high, a good percentage of U.S. regular issues become burials at least for quite some time.

  • alaura22
    alaura22 Posts: 3,963 ✭✭✭✭✭
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    @MEJ7070 said:
    I don’t understand why a state would tax bullion.

    I REALLY don’t understand why a state would tax collectible coins.

    Simple, because they can.............
    You have the right NOT to buy

    Mike
    My Indians
    Dansco Set

  • Morgan13
    Morgan13 Posts: 2,691 ✭✭✭✭✭
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    In Massachusetts there is no tax on a coin purchase of $1000+.
    I'm not sure about bullion becasue I do not buy it.
    NH which is right store is tax free.

    Student of numismatics and collector of Morgan dollars
    Successful BST transactions with: Namvet Justindan Mattniss RWW olah_in_MA
    Dantheman984 Toyz4geo SurfinxHI greencopper RWW bigjpst bretsan MWallace logger7 JWP BruceS bigjpst
    JWP PROMETHIUS88

  • Exbrit
    Exbrit Posts: 1,515 ✭✭✭✭
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    @bronzemat said:
    It's 11.25% where I live in California. :s

    I won’t give them my money either. Just sad all around.

  • jmlanzaf
    jmlanzaf Posts: 43,044 ✭✭✭✭✭
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    @MEJ7070 said:
    I don’t understand why a state would tax bullion.

    I REALLY don’t understand why a state would tax collectible coins.

    Why is a collectible coin any different than a beanie baby? [I didn't say bullion. ]

    All comments reflect the opinion of the author, even when irrefutably accurate.

  • cameonut2011
    cameonut2011 Posts: 10,863 ✭✭✭✭✭
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    @MEJ7070 said:
    I don’t understand why a state would tax bullion.

    I REALLY don’t understand why a state would tax collectible coins.

    $$$$.

    As long as the state is getting money, it is irrelevant to them what is being taxed whether it’s a luxury car or luxury coin/bullion.

  • cameonut2011
    cameonut2011 Posts: 10,863 ✭✭✭✭✭
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    If the states want to make money, tax the Ponzi scheme “cryptocurrencies.” If people choose to waste their money, it might as well be used to fund roads, schools, and fire/police personnel.

  • privatecoin
    privatecoin Posts: 3,853 ✭✭✭✭✭
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    @alaura22 said:

    @MEJ7070 said:
    I don’t understand why a state would tax bullion.

    I REALLY don’t understand why a state would tax collectible coins.

    Simple, because they can.............
    You have the right NOT to buy

    God bless the black market.

    Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc

  • mach19
    mach19 Posts: 5,049 ✭✭✭✭
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    @PerryHall said:
    BST---No sales tax. ;)

    AWESOME..... I agree !!

    TIN SOLDIERS & NIXON COMING image
  • pcgsregistrycollector
    pcgsregistrycollector Posts: 2,325 ✭✭✭✭✭
    edited May 2, 2026 8:02PM
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    Giveaways even better! Not only do you have 0% sales tax you also have a built-in discount on everything you buy 😏

    Proud follower of Christ! I love the USA! Land of the Bright and Beautiful! 🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸

  • MarkInDavis
    MarkInDavis Posts: 1,752 ✭✭✭✭
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    @bronzemat said:
    It's 11.25% where I live in California. :s

    I thought the highest sales tax in CA was 10.75%. Where do you live?

    image Respectfully, Mark
  • 2windy2fish
    2windy2fish Posts: 1,143 ✭✭✭✭✭
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    @Inlander I agree with you that there are a LOT of detriments to living in Washington State, would like to point out that unlike Idaho (and perhaps other states) there is no sales tax on food at the grocery store and no state income tax….Having said that i don’t know exactly what the comparison is but it needs to be said that it’s not a tax free comparison….Those taxes do add up

  • 2windy2fish
    2windy2fish Posts: 1,143 ✭✭✭✭✭
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    It is my opinion that ultimately Washington will do away with the tax on coins and bullion, yes it may be a couple of years but i believe that the tax will ultimately be repealed, there is already progress towards that end but it will not be debated until next winter.

  • Glen2022
    Glen2022 Posts: 1,005 ✭✭✭✭
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    Go across the Columbia River to Oregon. No sales tax.

  • pruebas
    pruebas Posts: 5,284 ✭✭✭✭✭
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    It would be interesting to compare the total tax bite of WA vs. other states.

    I would venture a guess that other states may not levy a sales tax on coins (or bullion), but you pay for it in property taxes (which may not hit you in the face if they are paid by the mortgage company, for example) or other taxes.

    I tend to agree that the tax will be soon repealed.

  • 2windy2fish
    2windy2fish Posts: 1,143 ✭✭✭✭✭
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    @pruebas I have no concrete facts (and have no interest whatsoever in researching!) but i would imagine that Washington state ranks very high…however, i do believe the difference is not so vast as some folks may believe 🤔

  • Inlander
    Inlander Posts: 164 ✭✭✭✭
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    @2windy2fish said:
    @Inlander I agree with you that there are a LOT of detriments to living in Washington State, would like to point out that unlike Idaho (and perhaps other states) there is no sales tax on food at the grocery store and no state income tax….Having said that i don’t know exactly what the comparison is but it needs to be said that it’s not a tax free comparison….Those taxes do add up

    No state income tax... yet lol!

    CAC | PCGS | NGC

  • 2windy2fish
    2windy2fish Posts: 1,143 ✭✭✭✭✭
    edited May 2, 2026 9:04PM
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    @Inlander Hmm…my son and daughter in law live there and told me they are paying a state income tax.
    Also, a quick google search says 5.3% 🤔

  • Inlander
    Inlander Posts: 164 ✭✭✭✭
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    @2windy2fish said:
    It is my opinion that ultimately Washington will do away with the tax on coins and bullion, yes it may be a couple of years but i believe that the tax will ultimately be repealed, there is already progress towards that end but it will not be debated until next winter.

    Ultimately repealed? I'm sorry, I don't share your optimism.

    CAC | PCGS | NGC

  • Inlander
    Inlander Posts: 164 ✭✭✭✭
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    @2windy2fish said:
    @Inlander Hmm…mu son and daughter in law live there and told me they are paying a state income tax.
    Also, a quick google search says 5.3% 🤔

    I never said there was no state income tax in Idaho.

    CAC | PCGS | NGC

  • BAJJERFAN
    BAJJERFAN Posts: 31,659 ✭✭✭✭✭
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    @MEJ7070 said:
    I don’t understand why a state would tax bullion.

    I REALLY don’t understand why a state would tax collectible coins.

    Because it's now common merchandise just if like you bought a broom and a dustpan. I don't like it either but convince me why a one ounce gold bar shouldn't be taxed.

    theknowitalltroll;
  • 2windy2fish
    2windy2fish Posts: 1,143 ✭✭✭✭✭
    edited May 2, 2026 9:09PM
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    @Inlander
    No state income tax... yet lol!
    This was your comment…
    See above

  • Inlander
    Inlander Posts: 164 ✭✭✭✭
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    @2windy2fish said:
    @Inlander
    No state income tax... yet lol!
    This was your comment…

    I was referring to Washington, not Idaho.

    CAC | PCGS | NGC

  • 2windy2fish
    2windy2fish Posts: 1,143 ✭✭✭✭✭
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    @Inlander
    Ahh gotcha!

  • MasonG
    MasonG Posts: 7,568 ✭✭✭✭✭
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    Tax Foundation
    2026 State Tax Competitiveness Index

    The State Tax Competitiveness Index compares each state on more than 150 variables in the five major areas of taxation (corporate taxes, individual income taxes, sales and excise taxes, property and wealth taxes, and unemployment insurance taxes and then adds the results to yield a final, overall ranking. This approach rewards states on particularly strong aspects of their tax systems (or penalizes them on particularly weak aspects), while measuring the general competitiveness of their overall tax systems. The result is a score that can be compared to other states’ scores.

    https://taxfoundation.org/statetaxindex/

    FWIW...

  • 2windy2fish
    2windy2fish Posts: 1,143 ✭✭✭✭✭
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    @MasonG
    Interesting! Thank you for posting!

  • goldbuffalo
    goldbuffalo Posts: 712 ✭✭✭
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    The Supreme Court ruled 5-4 in South Dakota v. Wayfair, Inc. (2018) that states can require remote sellers to collect sales tax without a physical presence. This landmark decision established that "economic nexus"—significant sales volume—replaces the outdated physical presence rule, allowing states to enforce sales tax collection on out-of-state retailers.

    The 5-4 Vote BreakdownMajority (5): Justices Anthony Kennedy (who authored the opinion), Clarence Thomas, Ruth Bader Ginsburg, Samuel Alito, and Neil Gorsuch.

    Dissenting (4): Chief Justice John Roberts, joined by Justices Stephen Breyer, Sonia Sotomayor, and Elena Kagan.

  • oldabeintx
    oldabeintx Posts: 3,214 ✭✭✭✭✭
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    The tax foundation index squares with most of the state taxes I’m familiar with except the Washington individual income tax ranking. The so-called millionaires tax on capital gains may yield a large amount of state revenue but it doesn’t directly affect the vast majority of citizens. There is a flaw in their approach IMO.

  • johnny9434
    johnny9434 Posts: 34,049 ✭✭✭✭✭
    edited May 2, 2026 10:34PM
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    Here in CT theres a 10% tax on the gyms price tag, it never ceases and isint getting any better 😕
    (They look at it as a luxury)

  • Clackamas1
    Clackamas1 Posts: 1,724 ✭✭✭✭✭
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    Oregon 0%

  • skier07
    skier07 Posts: 4,833 ✭✭✭✭✭
    edited May 2, 2026 11:40PM
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    @bronzemat said:
    It's 11.25% where I live in California.

    There’s no sales tax in California on bullion or coin purchases greater than $2000.

    There are plenty of dealers nationally who do not charge sales tax.

  • bronzemat
    bronzemat Posts: 2,700 ✭✭✭✭✭
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    @MarkInDavis said:

    @bronzemat said:
    It's 11.25% where I live in California. :s

    I thought the highest sales tax in CA was 10.75%. Where do you live?

    Lancaster

  • jmlanzaf
    jmlanzaf Posts: 43,044 ✭✭✭✭✭
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    @2windy2fish said:
    @Inlander I agree with you that there are a LOT of detriments to living in Washington State, would like to point out that unlike Idaho (and perhaps other states) there is no sales tax on food at the grocery store and no state income tax….Having said that i don’t know exactly what the comparison is but it needs to be said that it’s not a tax free comparison….Those taxes do add up

    That's an oddly regressive tax structure in Washington.

    All comments reflect the opinion of the author, even when irrefutably accurate.

  • jmlanzaf
    jmlanzaf Posts: 43,044 ✭✭✭✭✭
    Options

    @MasonG said:
    Tax Foundation
    2026 State Tax Competitiveness Index

    The State Tax Competitiveness Index compares each state on more than 150 variables in the five major areas of taxation (corporate taxes, individual income taxes, sales and excise taxes, property and wealth taxes, and unemployment insurance taxes and then adds the results to yield a final, overall ranking. This approach rewards states on particularly strong aspects of their tax systems (or penalizes them on particularly weak aspects), while measuring the general competitiveness of their overall tax systems. The result is a score that can be compared to other states’ scores.

    https://taxfoundation.org/statetaxindex/

    FWIW...

    I'm shocked that NY is 50th. 🤣

    All comments reflect the opinion of the author, even when irrefutably accurate.

  • PerryHall
    PerryHall Posts: 47,749 ✭✭✭✭✭
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    @jmlanzaf said:

    @MasonG said:
    Tax Foundation
    2026 State Tax Competitiveness Index

    The State Tax Competitiveness Index compares each state on more than 150 variables in the five major areas of taxation (corporate taxes, individual income taxes, sales and excise taxes, property and wealth taxes, and unemployment insurance taxes and then adds the results to yield a final, overall ranking. This approach rewards states on particularly strong aspects of their tax systems (or penalizes them on particularly weak aspects), while measuring the general competitiveness of their overall tax systems. The result is a score that can be compared to other states’ scores.

    https://taxfoundation.org/statetaxindex/

    FWIW...

    I'm shocked that NY is 50th. 🤣

    I'm not. :D

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
    "Everything you say should be true, but not everything true should be said."----Voltaire

  • MEJ7070
    MEJ7070 Posts: 951 ✭✭✭✭✭
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    There are so many potential > @BAJJERFAN said:

    @MEJ7070 said:
    I don’t understand why a state would tax bullion.

    I REALLY don’t understand why a state would tax collectible coins.

    Because it's now common merchandise just if like you bought a broom and a dustpan. I don't like it either but convince me why a one ounce gold bar shouldn't be taxed.

    It serves the same purpose as stocks, bonds, insurance policies, and plenty of other stores of value/paper assets.

    If you’re not taxed on buying into a gold ETF you shouldn’t be taxed on buying a gold bar. JMHO obviously.

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