Ohio Precious Metal Sales Taxes

 

How Does Ohio Tax Precious Metals?

This page is meant to provide investors with a basic overview of how tax laws apply to their purchases on the Hero Bullion website. We automatically calculate all sales taxes based on the address you provide us at checkout. 

In the state of Ohio, six types of precious metal products are subject to sales tax collection: Paper currency, copper bullion, some non-coin products, low purity bullion coins, accessories, and processed bullion. 

Here’s a brief explanation of how Ohio defines taxable precious metal products:

Taxable Product	Definition
Copper Products	Any product made primarily with copper bullion is subject to sales taxation in the state of Ohio.
Paper Currencies	Paper currencies used as legal tender by a sovereign government are taxed when shipped to an Ohio address.
Low Purity Non-Coin Products	Non-coin gold items that are less than 99.9% pure, non-coin silver items with a purity below 99.9%, and non-coin platinum or palladium products less pure than 99.95% are taxable in Ohio.
Non-Investment Coins	Coins made of any precious metal with a purity lower than 50% are considered non-investment coins and are taxed in Ohio.
Accessories	Accessories refer to products used to store, maintain, or display precious metals. Accessory items are taxable in Ohio.
Processed Bullion	Bullion products that have had their value increased by alterations via a third party are processed – processed items are taxable in Ohio, regardless of their purity, value, or metal content.

How Does Hero Bullion Calculate Sales Taxes in Ohio? 

All other products on our website are tax exempt in Ohio. 

Sales tax laws for online bullion sales are subject to change on short notice. Check back frequently on this page for the most updated information. If you have more particular questions concerning sales taxes owed on Ohio bullion purchases, direct your inquiries to the Ohio Department of Taxation, which can be located online here.