Georgia Tax Regulations for Precious Metals
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Georgia Sales Tax for Precious Metals

By Gainesville Coins
Published April 23, 2020

As defined in state code §560-12-2-.108, the following bullion and numismatic items are exempt from sales tax when shipped by Gainesville Coins to a Georgia address:

EXEMPT

  1. Refined gold, silver, or platinum bars or ingots sold according to its precious metal content and not form;
  2. U.S. and foreign legal tender bullion coins of gold, silver, platinum or other metals;
  3. U.S. and foreign legal tender numismatic coins are exempt;
  4. Legal tender currency;
  5. Medals or medallions made from gold, silver, or platinum are exempt ONLY if sold according to its precious metal content and not form.

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

Our Sales Tax Number is 175915560. Sales Tax Certificate of Registration effective 04/22/2019.

Georgia Tax Code - Sales Tax Exemptions For Precious Metals

560-12-2-.108. Bullion, Coins, or Currency.

(1) Definitions.For the purposes of this Regulation, the following definitions and explanations of terms shall apply:

(a) Bullion.
The term "bullion" means bars, ingots, or coins of gold, silver, platinum or any combination thereof, which has been processed by coining, smelting, refining, or in some other manner and where the sales price depends upon the content of the metal and not the form. Such term shall not include jewelry, works of art, or items used for industrial or professional purposes.

(b) Coins or Currency.
The term " coins or currency" means a coin or currency or any combination thereof made of gold, silver, platinum, or other metals or paper which has been or may be used as legal tender under the laws of any state, the United States of America, or any foreign state or nation. Such term shall not include any coin or currency or combination thereof that has been incorporated into a piece of jewelry or artwork.

(c) Legal Tender.
The term "legal tender" means coin or currency that at the time of issue or sale a creditor would be required to accept in payment of a debt.

(d) Medal.
The term "medal" means a medallion, token, or coin that has never been accepted as legal tender and was created to commemorate a specific event, place, person or thing.

(2) Bullion, Coins or Currency.
The sale of bullion, coins or currency is not subject to sales and use tax. The dealer is required to maintain documentation of the exempt transaction as provided for within this Regulation.

(3) Jewelry or Other Works of Art.
The sale of jewelry or other works of art that contain bullion, coins or currency is subject to sales and use tax.

(4) Medals.
The sale of medals is subject to sales and use tax. However, medals of gold, silver, platinum, or any combination thereof, whose sales price is based on the content of the metal, and not the form, are not subject to the tax.

(5) Records.
The dealer is required to maintain proper documentation of any transaction, whole or in part, which is considered to be exempt. Proper documentation for the purpose of transactions involving coins or currency will describe the country of issue, denomination, and sales price of each item, items, lots, groups or sets of coins or currency. In the case of a transaction involving bullion, the proper documentation will describe the metal, quantity, form (such as bars or ingots), and sales price of each item, items, lots, groups or sets of bullion.

(Adopted eff. 5-10-01.)

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