Connecticut Tax Regulations for Precious Metals
Menu
Due to unprecedented demand for gold and silver bullion along with the fluid situation as it relates to COVID-19, all orders may have further extended delays which are past our normal processing time and any already stated product delay dates. We are working around the clock to ship all orders as soon as possible.

Connecticut Sales Tax for Precious Metals

Published: April 23, 2020
Updated: April 23, 2020

As defined in Connecticut General Statute § 12-412(45), the following bullion and numismatic items are EXEMPT from sales tax when shipped by Gainesville Coins to a Connecticut address:

EXEMPT

  1. Refined gold or silver bullion bars sold according to its precious metal content and not form are exempt in single transactions greater than $1,000;
  2. Gold or silver legal tender bullion coins of any nation, sold according to its precious metal content are exempt in single transactions greater than $1,000;
  3. Rare or antique coins are exempt from Connecticut state sales tax regardless of sales price.

Bullion bars and legal tender bullion coins can be combined in one sale to reach the $1,000 threshold.

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

Note that platinum or palladium bullion coins and bars are NOT exempt from Connecticut state sales tax.

Our CT Tax Registration Number is 79807830-001. Sales and Use Tax Permit effective 02/01/2020.

Connecticut Tax Code - Sales Tax Exemptions For Precious Metals

§12-412(45) Gold or silver bullion, legal tender of any nation, rare and antique coins.
Sales of and the storage or use of rare or antique coins, gold or silver bullion and gold or silver legal tender of any nation, traded according to its value as precious metal, provided such exemption shall not be applicable with respect to any such sale, storage or use in which the total value of such bullion or legal tender sold by the retailer is less than one thousand dollars.

Posted In: tax