Sales Tax Law:

Section 2-5 (18), “Legal tender, currency, medallions, or gold or silver coinage issued by the State of Illinois, the government of the United States of America, or the government of any foreign country, and bullion” are exempt from sales tax.

“Legal tender” is defined as “currency, gold coins, silver coins, and any other item accepted as money in the country in which it is issued.
“Medallions” are defined as “coins, other than legal tender, which are issued by a government body, usually as a memorial.”
“Bullion” is defined as “gold, silver, or platinum in a bulk state with a purity of not less than 980 parts per 1,000.”

NPMEX is required to collect tax on some items shipping to Illinois, however sales tax will not be charged for most Gold, Silver, or Platinum bullion items as they are exempt from sales tax when shipping to an
Illinois address.

The State of Illinois requires the collection of occupation taxes on certain products sold by NPMEX and delivered to an Illinois address. These taxes must be collected on (1) palladium products; (2) copper products; (3) any bullion with a purity of less than 980 parts per 1,000; (4) any coins that were issued by the Republic of South Africa; (5) accessory items; and (6) processed items.

The following definitions apply to products on which taxes must be collected in Illinois:

• Bullion: Gold, Silver or Platinum with a purity of less than .980 fineness.
• 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 Illinois are calculated at checkout on the NPMEX website based on (1) the taxability of products sold by NPMEX in Illinois set forth above, and (2) the specific tax rates established by the taxing jurisdiction of the delivery address in Illinois.

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 Illinois. 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 Illinois 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 Illinois, we suggest you visit the Illinois department of revenue located at https://www2.illinois.gov/rev/Pages/default.aspx.

Buying Gold and Silver in Illinois

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 Illinois 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 Illinois and offers a great value and buying experience.