Sales Tax Law:

March 2019, Governor Jim Justice signed Senate Bill 502 into law. SB 502 exempts investment metal bullion or investment coins from consumer sales and service tax.

“Investment metal bullion” is defined as any elementary precious metal which has been put through a process of smelting or refining, including gold, silver, platinum, and palladium, and which is in such a state that its value depends upon its content and not its form. This definition does not include precious metal which has been assembled, fabricated, manufactured, or processed in one or more industrial, professional, aesthetic, or artistic uses.

“Investment coins” is defined as numismatic coins or other forms of money and legal tender manufactured of gold, silver, platinum, and palladium, or other metal and of the United States or any foreign nation with a fair market value greater than any nominal value of such coins. This definition does not include jewelry or works of art made of coins, nor does it include commemorative medallions.

NPMEX is required to collect tax on some items shipping to West Virginia, however sales tax will not be charged for Gold, Silver, Platinum, or Palladium investment bullion and coin items we sell as they are exempt from sales tax when shipping to a West Virginia address.

The state of West Virginia requires the collection of sales taxes on certain products sold by NPMEX and delivered to a West Virginia address. These taxes must be collected on (1) copper products; (2) accessory items; and (3) processed items. All other products sold by NPMEX are exempt from these taxes.

The following definitions apply to products on which taxes must be collected in West Virginia: Investment Bullion:

Any elementary precious metal which has been put through a process of smelting or refining, including gold, silver, platinum, and palladium, and which is in such a state or condition that its value depends upon its content and not its form. Investment Coins: Numismatic coins or other forms of money and legal tender manufactured of gold, silver, platinum, palladium, or other metal and of the United States or any foreign nation with a fair market value greater than any nominal value of such coins.

• 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 West Virginia are calculated at checkout on the NPMEX website based on (1) the taxability of products sold by NPMEX in West Virginia set forth above, and (2) the specific tax rates established by the taxing jurisdiction of the delivery address in West Virginia. On July 1, 2019, a law went into effect exempting precious metals investment bullion & coins from sales tax in West Virginia.

Capital Gains Tax:

Gold and silver are subject to capital gains taxation when exchanged for Federal Reserve notes or when used in barter transactions.

Please Note: The above is not a comprehensive description of sales tax laws and requirements in the state of West Virginia. 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 West Virginia that relate to the reader’s transactions with NPMEX. if you would like to research the sales tax laws and requirements in the state of West Virginia, we suggest you visit the West Virginia department of revenue located at https://revenue.wv.gov/Pages/default.aspx.

Buying Gold and Silver in West Virginia

Buying precious metals from online dealer NPMEX has some major advantages. Though NPMEX is physically located in Erie Colorado, we ship all over the United States, every day. NPMEX offers a huge selection of coin and bullion products for West Virginia 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 NPMEX 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 NPMEX.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 NPMEX may have lower overhead than brick and mortar coin shops, we are able to pass savings on to our customers. NPMEX offers some of the lowest prices available for precious metals.

NPMEX is proud to serve the residents of West Virginia and offers a great value and buying experience.