Michigan Tax Regulations for Precious Metals
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Michigan Sales Tax for Precious Metals

Published April 23, 2020

As defined in Act 173 of 2004 §4s, the following bullion and numismatic items are EXEMPT from sales tax when shipped by Gainesville Coins to a Michigan address:

EXEMPT

  1. Gold, silver, or platinum, bullion bars or ingots refined to a purity of at least .900 fine, sold according to its precious metal content and not form;

  2. Numismatic coins “or other forms of money” that trade at a premium to their face value;

  3. Legal tender coins of any nation, made of gold, silver, platinum, palladium, or other metal, that trade at a premium to their face value

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

Our Account Number is 22-3939059. Sales Tax License

Michigan Tax Code - Sales Tax Exemptions For Precious Metals

Act 173
Acts of 2004

Sec. 4s. (1) A sale of investment coins and bullion is exempt from the tax under this act.

(2) As used in this section:

(a) “Bullion” means gold, silver, or platinum in a bulk state, where its value depends on its content rather than its form, with a purity of not less than 900 parts per 1,000.

(b) “Investment coins” means numismatic coins or other forms of money and legal tender manufactured of gold, silver, platinum, palladium, or other metal and issued by the United States government or a foreign government with a fair market value greater than the face value of the coins.

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