Ohio Precious Metals Tax Information


The State of Ohio requires the collection of sales taxes on certain products sold by ITM Trading and delivered to an Ohio address. These taxes must be collected on (1) bullion comprised of gold, silver, platinum, or palladium that does not meet certain purity requirements; (2) copper products including coins or bullion; (3) accessory items; and (4) processed items. All other products sold by ITM Trading are exempt from these taxes.


Taxable Products in Ohio


  • Bullion. Precious metal that is valued solely upon its precious metal content, whether in bar, round, or ingot form (Note: In Ohio, coins comprised primarily of gold, silver, platinum, or palladium are excluded from the definition of bullion).
  • Purity Requirements. Gold bullion with a minimum purity of 0.995%; silver bullion with a minimum purity of 0.999%; platinum bullion with a minimum purity of 0.9995%; and palladium bullion with a minimum purity of 0.9995%.
  • 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 Ohio are calculated at checkout on the ITM Trading website based on (1) the taxability of products sold by ITM Trading in Ohio set forth above, and (2) the specific tax rates established by the taxing jurisdiction of the delivery address in Ohio.


PLEASE NOTE: THE ABOVE IS NOT A COMPREHENSIVE DESCRIPTION OF SALES TAX LAWS AND REQUIREMENTS IN THE STATE OF OHIO. 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 OHIO THAT RELATE TO THE READER’S TRANSACTIONS WITH ITM TRADING. IF YOU WOULD LIKE TO RESEARCH THE SALES TAX LAWS AND REQUIREMENTS IN THE STATE OF OHIO, WE SUGGEST YOU VISIT THE OHIO DEPARTMENT OF TAXATION LOCATED AT https://tax.ohio.gov/.