Colorado Tax Regulations for Precious Metals
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Colorado Sales Tax for Precious Metals

By Gainesville Coins
Published April 23, 2020

As defined in “FYI Sales 60 Sales Tax Exemptions for Coins and Precious Metal Bullion”, the following bullion and numismatic items are EXEMPT from sales tax when shipped by Gainesville Coins to a Colorado address:

EXEMPT

  1. Refined gold, silver, platinum, or palladium bullion bars or ingots sold according to its precious metal content and not form
  2. Legal tender bullion coins made of gold, silver, platinum, palladium or other metals; other than commemoratives;
  3. Legal tender numismatic coins other than commemoratives.

All other bullion or numismatic items and accessories sold by Gainesville Coins are subject to Colorado state sales tax.

Our Use Account Number is 32519723-0001. Sales Tax License effective 04/01/2019.

Colorado Tax Code - Sales Tax Exemptions For Precious Metals

FYI Sales 60 Sales Tax Exemptions for Coins and Precious Metal Bullion

GENERAL INFORMATION

Retail sales of coins and precious metal bullion are exempt from sales tax. This exemption applies to state, Regional Transportation District/Scientific and Cultural Facilities District, county and state-collected local taxes. Please contact home-rule cities for their regulations.

“Coins” are defined as “monetized bullion or other forms of money manufactured from gold, silver, platinum, palladium, or other such metals now, in the future, or heretofore designated as a medium of exchange under the laws of this state, the United States, or any foreign nation.” [§39-26-102(2.6) C.R.S.]

“Precious metal bullion” is defined as “any precious metal, including but not limited to, gold, silver, platinum and palladium, that has been put through a process of refining and is in such a state or condition that its value depends upon its precious metal content and not its form.” [§39-26-704(4)(a)(b) C.R.S.].

Not all numismatic pieces are exempt. Precious metal bullion and coins that are or were at one time used as currency or medium of exchange in the United States or a foreign country (such as quarters, dimes, nickels and pennies) are exempt. However, numismatic pieces such as paper money, tokens, checks, wampum and similar items not specifically exempt from taxation do not fall under this exemption. Transactions involving the sale of jewelry and commemoratives continue to be taxable.

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