This tax guide provides a detailed and technical, yet easy-to-read, overview of the state sales tax rules for BOLD Precious Metals in Iowa. Currently, BOLD is not required to collect state sales tax in Iowa, and therefore, we do not have a sales tax license number. However, we continually analyze the requirements and will update our status if necessary. For now, here are the current state requirements for precious metals in Iowa.
"In Iowa, the sales tax rules for precious metals depend on the type of item"
Antique and rare coins, formerly accepted as official currency in the United States or various nations, possess value determined by scarcity, popularity, condition, and production quantity. This encompasses pristine coins and authenticated proofs.
Paper currency, formerly accepted as official payment in the United States and other nations, now holds value determined by its scarcity, market demand, and state of preservation.
Precious metal coins crafted from refined gold, silver, platinum, or palladium and produced in various nations, whose worth is influenced by the ever-changing market value of these valuable metals. According to the rules outlined in 26 USCS § 408(m), these coins can be added to an Individual Retirement Account (IRA) and are commonly purchased as investment instruments.
Bars, ingots, or other products comprising pure gold of 99.5% or higher and silver of 99.9% pure, platinum of 99.95% fineness or higher, refined valuable metals of 99.95% pure or more, or purified palladium of 90% purity or higher but below required purity criteria.
These bars, ingots, or other forms contain refined precious metals with a purity of 90% or higher but fall short of meeting the minimum fineness standards. They encompass refined gold, silver, platinum, and palladium.
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 Iowa. 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 Iowa, we recommend visiting the Iowa Department of Revenue at https://tax.iowa.gov/.
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