Oklahoma Sales Tax for Precious Metals
As defined in state code 710:65-13-95, the following bullion and numismatic items are EXEMPT from sales tax when shipped by Gainesville Coins to an Oklahoma address:
Sales of coins, bars, ingots, blanks, rounds, and medallions make from gold, silver, platinum, or palladium, sold according to its precious metal content and not form;
Bullion legal tender sold according to its precious metal content and not form;
Bullion coins sold or purchased as an investment.
All other bullion or numismatic items and accessories sold by Gainesville Coins are subject to Oklahoma state sales tax.
Our Permit Number is SVU-15178018-02. Vendor Use Tax Permit effective 12/05/2018.
Oklahoma Tax Code - Sales Tax Exemptions For Precious Metals
PART 18. PRECIOUS METALS 710:65-13-95.
Exemption for sales of gold, silver, platinum, palladium or other bullion items
(a) General provisions. The sale of gold, silver, platinum, palladium or other bullion items such as coins and bars and legal tender of any nation, which legal tender is sold according to its value as precious metal or as an investment is exempt. "Bullion" for purposes of this Section means any precious metal, including, but not limited to, gold, silver, platinum and palladium, that is in such a state or condition that its value depends upon its precious metal content and not its form.
(b) Eligibility. Transactions eligible for the exemption outlined in subsection (a) of this Section include:
(1) Sales of gold, silver, platinum or palladium in the form of coins, bars, ingots, blanks, rounds, and medallions.
(2) Sales of bullion that is or was at one time used as currency or a medium of exchange in the United States or a foreign country when:
(A) sold for an amount based on its value as a precious metal or
(B) sold or purchased as an investment.
(c) Exclusions. The exemption outlined in Subsection (a) does not apply to the following:
(1) Fabricated metals that have been processed or manufactured for artistic use or as jewelry,
(2) Jewelry or other accessory items such as belt buckles and money clips,
(3) Paper currency, and
(4) Bonds, certificates, and stocks.
Tax By State
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia