South Dakota Precious Metal Sales Taxes

 

How Does South Dakota Tax Precious Metals?

South Dakota requires bullion dealers to collect sales taxes on certain precious metal products that are shipped to addresses within the state. We automatically calculate all relevant sales taxes when you provide an address during checkout, so there’s no need to worry. Still, we’ve created this short guide to explain which bullion products are taxed in South Dakota. 

Four types of Hero Bullion products are taxable in South Dakota. Copper, numismatic items, accessories, and processed bullion products are all subject to sales taxation when we sell them to a consumer in the state of South Dakota. 

Here’s a brief primer on how these taxable bullion items are defined by the state: 

Taxable Product	Definition
Copper Products	If a product is made using primarily copper bullion, then we must collect sales tax on it whenever we ship to South Dakota. Copper rounds, bars, and other collectable copper products are taxed.
Numismatic Products	Products are considered numismatic if they harbor value above their base precious metal content. This is generally due to exceptional rarity, pristine condition, or other factors. If an item is numismatically valuable, it is taxed in South Dakota.
Non-Tender Coins	Bullion coins that were not issued as legal tender by a sovereign government are taxable in South Dakota.
Accessories	Coins made of any precious metal with a purity lower than 50% are considered non-investment coins and are taxed in Ohio.
Processed Bullion	Coins, rounds, or bars that are processed by a third party are also considered taxable. Jewelry is one common example of a processed bullion product, and colorized coins are another.

How Does Hero Bullion Calculate Sales Taxes in South Dakota? 

If your bullion purchase contains any of the above items, then we are legally required to collect sales taxes on South Dakota orders. We want to keep bullion investment as easy as possible; that’s why we automatically calculate all necessary sales taxes based on your shipping address before checkout.

If you think we may have made a mistake calculating and applying South Dakota precious metal sales taxes to your order, please reach out to our customer support team. 

Find more information about how South Dakota taxes precious metal products at the state’s Department of Revenue.