Utah Tax Regulations for Precious Metals
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Utah Sales Tax for Precious Metals

Published April 23, 2020

As defined in state code 59-12-104(50) and (51), the following bullion and numismatic items are EXEMPT from sales tax when shipped by Gainesville Coins to a Utah address:

EXEMPT

  1. Gold, silver, or platinum bullion bars, ingots, medallions, and decorative coins refined to a purity not less than .500 fine, sold according to its precious metal content and not form;

  2. Coins that constitute legal tender of a state, the U.S. or a foreign nation;

  3. Currency that constitutes legal tender of a state, The U.S. or a foreign nation.

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

Our Account Number is 14843644-002-STC.

Utah Tax Code - Sales Tax Exemptions For Precious Metals

Sales Tax Exemptions by Category
(Source: Utah Code Section 59-12-104 and Utah State Tax Commission)

Title 59 Chapter 12 Part 1
Section 104. EXEMPTIONS

59-12-104. Exemptions.
Exemptions from the taxes imposed by this chapter are as follows:

(50) sales of currency or coins that constitute legal tender of a state, the United States, or a foreign nation;
(51)
(a)sales of an item described in Subsection (51)(b) if the item:

(i) does not constitute legal tender of a state, the United States, or a foreign nation; and
(ii) has a gold, silver or platinum content of 50% or more; and


(b) Subsection (51)(a) applies to a gold, silver, or platinum:

(i) ingot;
(ii) bar;
(iii) medallion; or
(iv) decorative coin

Effective 5/14/2019

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