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Virginia Precious Metals Tax Information
In Virginia, sales of gold, silver, or platinum bullion, or legal tender coins are generally exempt from sales tax. However, there are some specific situations where sales tax may apply:
Taxable Products in Virginia
- Sales under $1,000: If the total sales price of gold, silver, or platinum bullion or legal tender coins in a single transaction is less than $1,000, sales tax may apply.
- Non-bullion Items. Sales tax applies to items that are not considered bullion, such as jewelry, numismatic coins (collector's coins), and processed items.
- Copper or Palladium Bullion. Sales tax may apply to copper or palladium bullion if it is not considered legal tender.
PLEASE NOTE: THE ABOVE IS NOT A COMPREHENSIVE DESCRIPTION OF SALES AND USE TAX LAWS AND REQUIREMENTS IN THE COMMONWEALTH OF 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 COMMONWEALTH OF VIRGINIA THAT RELATE TO THE READER’S TRANSACTIONS WITH ITM TRADING. IF YOU WOULD LIKE TO RESEARCH THE SALES AND USE TAX LAWS AND REQUIREMENTS IN THE COMMONWEALTH OF VIRGINIA, WE SUGGEST YOU VISIT THE VIRGINIA DEPARTMENT OF TAXATION LOCATED AT https://www.tax.virginia.gov/.
