Maryland Sales Tax on Gold & Silver Bullion / Coins
Rules and Regulations for the State of Maryland
BGASC is required to collect tax on some items shipping to Maryland, however sales tax will not be charged for Gold, Silver, Platinum, or Palladium bullion items if the total amount of a single sales transaction for these items is $1,000 or more as qualifying purchases are exempt from sales tax when shipping to a Maryland address.
The State of Maryland requires the collection of sales taxes on certain products sold by BGASC and delivered to a Maryland address. These taxes must be collected on (1) copper products; (2) any single sales transaction of gold, silver, platinum, or palladium where the transaction amount is less than $1,000; (3) numismatic coins less than $1,000; (4) coins that are not, or have not been, used as mediums of exchange of the United States or any foreign country; (5) accessory items; and (6) processed items. All other products sold by BGASC are exempt from these taxes.
The following definitions apply to products on which taxes must be collected in Maryland:
- Single Sales Transaction: Determined per invoice, and not on a line-item basis.
- Numismatic Coins: Coins which have an external value above and beyond the base value of the underlying precious metal, due to the item's rarity, condition, age, or other external factor
- Medium of Exchange: Coins or currency that are acceptable as a measure of value and a standard of exchange for goods and services.
- 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 Maryland are calculated at checkout on the BGASC website based on (1) the taxability of products sold by BGASC in Maryland set forth above, and (2) the specific tax rates established by the taxing jurisdiction of the delivery address in Maryland.
BGASC began collecting taxes in Maryland on April 1, 2019.
Please Note: The above is not a comprehensive description of sales tax laws and requirements in the state of Maryland. 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 Maryland 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 Maryland, we suggest you visit the Maryland department of revenue located at https://taxes.marylandtaxes.gov/Business_Taxes/.
Buying Gold and Silver in Maryland
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 Maryland 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 Maryland, and offers a great value and buying experience.