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: Taxable.
• U.S. Coins, U.S. Currency & Bullion: Tax exempt.
Alaska
• Bullion, Coins & Currency: Tax exempt.
Arizona
• Coins & Bullion: Tax exempt.
• Currency: Taxable.
Arkansas
• Bullion, Coins & Currency: Tax exempt.
California
• Coins & Bullion: Taxable on invoices less than $2,000.
• Currency: Taxable.
Colorado
• Coins & Bullion: Tax exempt.
• Currency: Taxable.
Connecticut
• Coins: Tax exempt.
• Bullion & Currency: Taxable on invoices less than $1,000.
Delaware
• Bullion, Coins & Currency: Tax exempt.
Florida
• Coins & Currency: Taxable on invoices of Foreign or Confederate material less than $500.
• Bullion: Taxable on invoices less than $500.
Georgia
• Bullion, Coins & Currency: Tax exempt.
Hawaii
• Bullion, Coins & Currency: Taxable.
Idaho
• Coins & Bullion: Tax exempt.
• Currency: Taxable.
Illinois
• Coins, Currency & Bullion: Tax exempt.
• Other items: Taxable.
Indiana
• Bullion, Coins & Currency: Tax exempt.
Iowa
• Bullion, Coins & Currency: Tax exempt.
Kansas
• Coins: Tax exempt for coins comprised of gold and silver.
• Currency: Taxable.
• Bullion: Tax exempt.
Kentucky
• Bullion, Coins & Currency: Taxable.
Louisiana
• Coins: Tax exempt on invoices less than $1,000.
• Currency: Taxable.
• Bullion: Tax exempt for Platinum, Gold, and Silver that is valued solely upon its precious metal content, whether in coin or ingot form.
Maine
• Bullion, Coins & Currency: Taxable.
Maryland
• Bullion & Coins: Taxable on invoices less than $1,000.
• Currency: Taxable.
Massachusetts
• Bullion & Coins: Taxable on invoices less than $1,000.
• Currency: Taxable.
Michigan
• Bullion & Coins: Tax exempt.
• Currency: Taxable.
Minnesota
• Coins, Currency & Bullion: Taxable.
• Bullion Bars & Rounds: Tax exempt.
Mississippi
• Coins, Currency & Bullion: Tax exempt.
Missouri
• Currency: Taxable.
• Coins & Bullion: Tax exempt.
Montana
• Bullion, Coins & Currency: Tax exempt.
Nebraska
• Bullion, Coins & Currency: Tax exempt.
Nevada
• Currency & Coins: Taxable.
• Bullion: Tax exempt.
New Hampshire
• Bullion, Coins & Currency: Tax exempt.
New Jersey
• Coins and Bullion: Tax exempt on invoices of less than $1,000.
• Currency: Taxable.
New Mexico
• Bullion, Coins & Currency: Taxable.
New York
• Coins and Currency: Taxable.
• Bullion: 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 or silver BARS and ROUNDS, platinum and palladium that sell for less than 115% of their melt price.
North Carolina
• Bullion, Coins & Currency: Tax exempt.
North Dakota
• Bullion, Coins & Currency: Tax exempt.
Ohio
• U.S. & World coins comprised (more than 50%) primarily of gold, silver, platinum or palladium: Tax exempt.
• Currency: Taxable.
• Bullion: 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
• Currency: Taxable.
• Coins & Bullion: Tax exempt.
Oregon
• Bullion, Coins & Currency: Tax exempt.
Pennsylvania
• Currency: Taxable.
• Coins & Bullion: Tax exempt.
Rhode Island
• Currency: Taxable.
• Coins & Bullion: Tax exempt.
South Carolina
• Bullion, Coins & Currency: Tax exempt.
South Dakota
• Bullion, Coins & Currency: Tax exempt.
Tennessee
• Bullion, Coins & Currency: Tax exempt.
Texas
• Currency: Taxable.
• Coins & Bullion: Tax exempt.
Utah
• Bullion, Coins & Currency: Tax exempt.
Vermont
• Bullion, Coins & Currency: Taxable.
Virginia
• Currency: Taxable.
• Coins & Bullion: Tax exempt.
Washington
• Currency: Taxable.
• Coins & Bullion: Tax exempt.
West Virginia
• Bullion, Coins & Currency: Tax exempt.
Wisconsin
• Currency & Numismatic Americana: Taxable.
• Coins & Bullion: Tax exempt.
Wyoming
• Bullion, Coins & Currency: Tax exempt.
District of Columbia
• Bullion, Coins & Currency: 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.
