Illinois Sales Tax on Gold & Silver Bullion / Coins
Rules and Regulations for the State of Illinois
BGASC is required to collect tax on some items shipping to Illinois, however sales tax will not be charged for most Gold, Silver, or Platinum bullion items as they are exempt from sales tax when shipping to an Illinois address.
The State of Illinois requires the collection of occupation taxes on certain products sold by BGASC and delivered to an Illinois address. These taxes must be collected on (1) palladium products; (2) copper products; (3) any bullion with a purity of less than 980 parts per 1,000; (4) any coins that were issued by the Republic of South Africa; (5) accessory items; and (6) processed items.
The following definitions apply to products on which taxes must be collected in Illinois:
- Bullion: Gold, Silver or Platinum with a purity of less than .980 fineness.
- Accessory Items: Items such as holders, tubes or coin flips.
- Processed Items: Precious Metals that have been processed by third parties into items valued on more than their Precious Metal content, such as jewelry, statues or colorized coins.
Sales taxes in Illinois are calculated at checkout on the BGASC website based on (1) the taxability of products sold by BGASC in Illinois set forth above, and (2) the specific tax rates established by the taxing jurisdiction of the delivery address in Illinois.
BGASC began collecting taxes in Illinois on April 1, 2019.
Please Note: The above is not a comprehensive description of sales tax laws and requirements in the state of Illinois. it is only intended to provide the reader with a brief overview of those sales tax laws and requirements currently in effect in the state of Illinois that relate to the reader's transactions with BGASC. if you would like to research the sales tax laws and requirements in the state of Illinois, we suggest you visit the Illinois department of revenue located at https://www2.illinois.gov/rev/Pages/default.aspx.
Buying Gold and Silver in Illinois
Buying precious metals from online dealer BGASC has some major advantages. Though BGASC is physically located in Calabasas California, we ship all over the United States, every day.
BGASC offers a huge selection of coin and bullion products for Illinois residents to choose from. Buyers can shop by metal type or by form such as coin, round or bar. In addition to potential cost savings, shopping online at BGASC is convenient and can be done from the comfort of your own home or office. Simply pick the coin or bullion products you want to buy, complete the simple checkout process, and your metals will be quickly shipped to your home or other destination of choice. Your precious metals purchases are fully insured and tracked while in transit.
Benefits to buying gold & silver online at BGASC.com:
- Gold and silver shipped directly to your door
- Lower prices than most physical coin stores
- Wide selection
- 24/7 online ordering 365 days a year
- Friendly & knowledgeable customer service
Because online precious metals dealer BGASC may have lower overhead than brick and mortar coin shops, we are be able to pass savings on to our customers. BGASC offers some of the lowest prices available for precious metals.
BGASC is proud to serve the residents of Illinois, and offers a great value and buying experience.