Minnesota Precious Metal Sales Taxes

 

How Does Minnesota Tax Precious Metals?

Certain products on our website are subject to sales taxes in Minnesota. Hero Bullion automatically calculates sales taxes based on the address you provide us at checkout. These fees are added to your order total. This page provides customers with the basic rules concerning how precious metal products are taxed in the state of Minnesota. 

In Minnesota, sales taxes must be collected for copper products, coins, bullion products below a certain purity threshold, accessories, and processed bullion items. All other items on the Hero Bullion website are tax-exempt in Minnesota. 

Here’s a brief overview of how taxable bullion products are defined in Minnesota law: 

Taxable Product	Definition
Copper Products	Products (including coins, bars, and rounds) made primarily with copper bullion are taxed in Minnesota.
Coins	Coins are circular precious metal products minted by a sovereign government. All coins are taxable in Minnesota, regardless of purity.
Bullion Products	Bullion products, including bars and rounds, are only taxed in Minnesota if they feature a purity of less than 99.9%. Bullion products that meet this purity threshold are tax-exempt in Minnesota.
Accessories	Accessories, including any of our products that assist in cleaning, storage, or display of bullion items, are subject to sales taxation when shipped to an address in Minnesota.
Processed Bullion	Processed bullion items have been sent to a third party for alteration, such as a colorized coin. Hero Bullion is required to collect sales taxes on processed bullion shipped to addresses in Minnesota.

How Does Hero Bullion Calculate Sales Taxes in Minnesota? 

All other products on our website are tax-exempt in Minnesota. We calculate all sales taxes based on the address you provide us at checkout.

If you think we’ve made a mistake calculating sales taxes on your order, please contact our customer support team. Specific questions about Minnesota’s precious metal sales taxes should be directed to the state’s Department of Revenue.