New California tax hike...on metals

[bronkster1967]

New York State is also a "We'll tax precious metal money/bullion" state, unless you spend over $1,000. If buying full ounce gold coins, one meets that threshold easily. If buying fractional gold coins- AGE's, 20 francs, sovereigns, etc. they do what they can to extract every last penny from you. It's straight up greed...

[motocat]

Moto,

I don't think you list is accurate. I purchased PMs for a friend in Virginia and did not pay sales tax. The exemption to the tax in VA are:

Gold, silver, or platinum refined bullion bars or ingots sold according to its precious metal content and not form;

Legal tender coins of any metal, issued by the U.S. or foreign nation as a medium of exchange or payment of debts.

I have never paid any tax in PA and have never heard of anyone collecting a tax.


You are correct, I found that list at Noble Gold: https://noblegoldinvestments.com/sales-tax-on-gold-and-silver/

I guess they do not update their list very often, and/or have not done thorough research on the topic (which they really should, given I hear so many advertisements from them saying they are the only gold dealer "you should trust").

Virginia, has done away entirely with their tax in 2022 according to this article: https://finance.yahoo.com/news/virgi...101000414.html

I have learned that so many supposed experts do repeat a lot of false information, even with tax rules in their own state, so for anyone who this really matters for, they should check their actual State codes on the topic, I have myself needed to show such code to a local dealer once (who was gracious in being corrected).

My point here was that in regards to stacking, California is hardly the worst state in the Union to be in, I myself have never needed to pay a sales tax on PM's here, however I don't have a problem dealing with larger amounts. I don't think it's fair that the young folks and those with less wealth get taxed for buying relatively small amounts of gold or silver, something like this would really have discouraged my initial entry into silver when I was a boy. I also want to dispel the notion that California is socialist in the sense it cares so much about the working class (it's the exact opposite), no matter they are socialist (actually like communist) in wanting to discourage and even shutdown churches and monasteries, while wanting to push their Sodomite beliefs on the population.

[and4rik]

If you want to buy a single ounce or a roll go to a coin show. Otherwise a store will charge you the tax if you don't qualify for bulk sale