Rhode Island Tax Regulations for Precious Metals
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Rhode Island Sales Tax for Precious Metals

Published April 23, 2020

As defined in RIGL 44-18-30(24) and (43), the following bullion and numismatic items are EXEMPT from sales tax when shipped by Gainesville Coins to a Rhode Island address:

EXEMPT

  1. Refined bars of, but not limited to, gold, silver, platinum, rhodium, and chromium, sold according to its precious metal content and not form;

  2. Coins having numismatic or investment value.

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

Our ID is 2-0966-490800. Retail Sales Permit effective 04/22/2019.

Rhode Island Tax Code - Sales Tax Exemptions For Precious Metals

RIGL 44-18-30

(24) Precious metal bullion.

(i) From the sale and from the storage, use, or other consumption in this state of precious metal bullion, substantially equivalent to a transaction in securities or commodities.
(ii) For purposes of this subdivision, “precious metal bullion” means any elementary precious metal that has been put through a process of smelting or refining, including, but not limited to:  gold, silver, platinum, rhodium, and chromium, and that is in a state or condition that its value depends upon its content and not upon its form.
(iii) The term does not include fabricated precious metal that has been processed or manufactured for some one or more specific and customary industrial, professional, or artistic uses.

(43) Coins.  From the sale and from the other consumption in this state of coins having numismatic or investment value.

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