Sales Tax Collection

At PeerMetals, we automatically calculate, collect, and remit sales tax where required by law. Because tax rules for precious metals and numismatics vary by state, our system uses a combination of shipping destination and listing details to determine whether sales tax must be collected on a transaction.

1. How Sales Tax Is Determined

Sales tax is applied based on the delivery address and the details of the item being sold.

Delivery Location: Sales tax liability is tied to the U.S. state the item is being shipped to.
State Tax Laws: Each state has its own rules about whether certain metals or coins are taxable.
Item Details: PeerMetals evaluates the listing’s metadata—including Metal Type, Category, Purity, and Weight—to determine whether the item is exempt or taxable in that specific state.

2. Factors That Affect Sales Tax

Sales tax may or may not be charged depending on the following item-specific criteria:

Metal Type: Gold, silver, platinum, palladium, or other metals may be taxed differently depending on the state.
Category: Bullion, numismatics, scrap or jewelry are taxed according to how they are classified in the state’s laws.
Purity: Some states only exempt bullion above a certain purity (e.g., .900 or .999 fine).
Weight Thresholds: Certain states require items to meet a minimum weight to qualify for exemption.
Dollar Amount: Some states apply sales tax to transactions under a certain dollar amount.

3. Automatic Tax Calculation

PeerMetals handles the complexity of tax compliance for you:

Real-Time Calculation: When a buyer enters their shipping information at checkout, our system determines whether tax applies based on their location and the item’s attributes.
Collected at Checkout: If tax is required, it is automatically added to the buyer’s total at checkout.
Remitted by PeerMetals: Sellers do not need to track, collect, or remit sales tax themselves—PeerMetals takes care of it.

4. Seller Responsibilities

While PeerMetals automates tax compliance, sellers should:

List Items Accurately: Ensure all listing fields (Metal Type, Purity, Category, Weight) are correctly filled out to ensure proper tax calculation.
Avoid Tax Evasion Practices: Misrepresenting items to avoid tax collection is a violation of our policies and may result in account action.
Know Your State’s Rules: For peace of mind, you may want to understand how your state treats sales of precious metals and collectibles.

5. Buyer Visibility

Buyers will see:

Tax Breakdown at Checkout: If applicable, sales tax will be clearly shown before completing the purchase.
Transparent Invoicing: Tax amounts are included in the buyer’s receipt and transaction history.

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