This tax guide provides a detailed and technical, yet easy-to-read, overview of the state sales tax rules for BOLD Precious Metals in Connecticut. Currently, BOLD is not required to collect state sales tax in Connecticut, and we do not have a sales tax license number. However, we continuously analyze and monitor the state's requirements, and this status may change in the future. In the meantime, here are the current state requirements for precious metals in Connecticut:
"In Connecticut, the sales tax rules for precious metals depend on the type of item"
All old or collectible coins that were formerly legal tender in the U.S. or other countries are exempt, with their value determined by scarcity, demand, condition, and mintage, including uncirculated coins and proofs.
Scarce or vintage paper currency from countries other than the U.S., valued based on rarity, demand, condition, and mintage.
Coins made from refined gold or silver, whether minted in the U.S. or other countries, are fully exempt from sales tax when the total order amount exceeds $1,000. Their value is influenced by the market prices of precious metals, and they are eligible for inclusion in an IRA under 26 USCS § 408(m).
Bars, ingots, or other forms containing refined gold of 99.5% purity or refined silver of 99.9% purity also fall under the full exemption when the order total is above $1,000.
U.S. and foreign paper currency is taxable when its sales price is based on rarity, demand, and condition.
Coins made from refined platinum, palladium, or other precious metals minted in the U.S. or other countries are taxable. Their value is influenced by the variable market price of precious metals. These coins are often purchased as investments and can be included in an IRA under 26 USCS § 408(m).
Bars, ingots, or other forms containing refined platinum, palladium, or other precious metals of 90% purity or more are taxable if they fall below the minimum fineness standards.
To file a Reseller Certificate with BOLD Precious Metals, please email it to [email protected] or mail it to BOLD Precious Metals, LLC, 7301 Ranch Road 620 N Suite 155-194, Austin, TX 78726-4537. As long as your Reseller Certificate is still in effect, you are not subject to sales tax on subsequent purchases after receiving it.
If you have any questions or need assistance, please contact BOLD's customer support team:
This information doesn't cover all sales tax laws and requirements in Connecticut. It only provides a detailed and technical overview of the current sales tax laws and requirements for transactions with BOLD Precious Metals. For further research on sales tax laws and requirements in Connecticut, we recommend visiting the Connecticut Department of Revenue Services
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