Sales Tax Law:

According to the General Sales Tax Act, Section 205.54s, “a sale of investment coins and bullion is exempt from the [sales] tax.”

The law defines bullion as “gold, silver, or platinum in a bulk state, where its value depends on its content rather than its form, with a purity of not less than 900 parts per 1,000.” “Investment coins” is defined as “numismatic coins or other forms of money and legal tender manufactured of gold, silver, platinum, palladium, or other metal and issued by the United States government or a foreign government with a fair market value greater than the face value of the coins.”

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

The State of Michigan requires the collection of sales taxes on certain products sold by NPMEX and delivered to a Michigan address. These taxes must be collected on (1) copper products; (2) palladium products; (3) any bullion products made of gold, silver, or platinum if their purity is less than 900 parts per 1,000; (4) accessory items; and (5) 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 Michigan:

• 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 Michigan are calculated at checkout on the NPMEX website based on (1) the taxability of products sold by NPMEX in Michigan set forth above, and (2) the specific tax rates established by the taxing jurisdiction of the delivery address in Michigan.

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 Michigan. 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 Michigan 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 Michigan, we suggest you visit the Michigan department of revenue located at https://www.michigan.gov/treasury/.

Buying Gold and Silver in Michigan

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 Michigan 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 Michigan and offers a great value a Minnesota.