Oklahoma Precious Metal Sales Taxes

 

How Does Oklahoma Tax Precious Metals?

Oklahoma requires distributors of bullion products to collect taxes on certain items. While we automatically apply these taxes at checkout based on your shipping address, this page will provide consumers with a basic explanation of how (and when) Oklahoma requires taxes on bullion items. 

Copper products, accessories, and processed bullion items are always taxed. We’ll include a definition of these product categories at the bottom of this page. 

Where gold, silver, and platinum coins are concerned, the state of Oklahoma draws a distinction between government-backed coins and non-backed coins. In other words, only coins that either are currently used or have previously been considered as legal tender in one or more countries are exempt from taxation. 

Consider the following definitions of taxable products used by Oklahoma’s taxation authority: 

Taxable Product	Definition
Copper Products	Like most other states, Oklahoma levies a tax on all products composed primarily of copper. Legal tender copper is an exception to this rule.
Legal Tender Coins	Coins backed by government mints, such as the American Double Eagle Gold Coin or the Gold Canadian Maple Coin, are able to be used as legal tender for the exchange of goods or services. These items are not taxed, but all non-tender coins are taxed in Oklahoma.
Accessories	Accessory products are not sold as bullion but are often used to maintain or store/display bullion products. Accessories are taxed in Oklahoma.
Processed Bullion	Products sold for their bullion content alone are not processed, but colorized coins or statues are often processed by a third party to add artificial value. These products are placed in a separate category within Oklahoma’s tax code. Processed bullion is taxable in Oklahoma.

How Does Hero Bullion Calculate Sales Taxes in Oklahoma? 

All other products on our site are tax exempt in Oklahoma. 

Hero Bullion will automatically calculate sales taxes based on your shipping address and apply these fees to your order total. If you have questions about how we assessed Oklahoma state sales taxes on your order, please reach out to our customer support team. 

More information about Oklahoma’s tax policies regarding bullion products can be found on the Oklahoma Tax Commission’s website.