Sales Tax Law:
Indiana Department of Revenue, “transactions involving the sale of or the lease or rental of storage for certain coins, bullion, or legal tender are exempt from sales tax.”
NPMEX is required to collect tax on some items shipping to Indiana, however sales tax will not be charged for any U.S. Legal Tender coins, and most Gold (.995+up), Silver (.999+up), Platinum (.9995+up), Palladium (.9995+up) bullion items as they are exempt from sales tax when shipping to an Indiana address.
The state of Indiana requires the collection of sales taxes on certain products sold by NPMEX and delivered to an Indiana address. These taxes must be collected on copper products, any non-U.S. Legal Tender Gold products with a purity less than .995 fine, any silver products with a purity less than .999 fine, any Platinum products with a purity less than .9995 fine, any Palladium products with a purity less than .9995 fine, numismatic products, accessory items and processed items.
The state of Indiana also exempts sales of certain coins that are permitted investments by an individual retirement account or an individually directed account. Specifically, approved coins include American Eagles, Proof American Eagles, coins issued under the laws of any state and United States legal tender coins.
The following definitions apply to products on which taxes must be collected in Indiana:
- Numismatic Products: Products with an external value above and beyond the base value of the underlying Precious Metal, due to the item’s rarity, condition, age or other external factor.
- 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 Indiana are calculated at checkout on the NPMEX website based on (1) the taxability of products sold by NPMEX in Indiana set forth above, and (2) the specific tax rates established by the taxing jurisdiction of the delivery address in Indiana.
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 Indiana. 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 Indiana 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 Indiana, we suggest you visit the Indiana department of revenue located at https://www.in.gov/dor/.
Buying Gold and Silver in Indiana 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 Indiana 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 Indiana and offers a great value and buying experience.
