West Virginia Precious Metal Sales Taxes

 

How Does West Virginia Tax Precious Metals?

West Virginia law requires that bullion dealers collect taxes on some precious metal products – but not all. This page is meant to provide customers with a brief overview of which bullion items are taxable when shipped to a West Virginia address. 

In West Virginia, the following six categories of products are subject to sales tax collection: Copper items, precious metals not meant for investment, currency products, commemorative medallions, accessories, and processed bullion.

Below, you’ll find a small description of how West Virginia defines its sales taxable precious metal products: 

Taxable Product	Definition
Copper Products	Items made primarily of copper bullion are subject to sales taxation in West Virginia.
Currency Items	When a sovereign government creates a product as legal tender, this constitutes a currency. In West Virginia, currency is a taxable item.
Non-Investment Precious Metals	This taxable category includes any precious metal product valued at more than just its precious metal content. Numismatic coins fall into this category.
Commemorative Medallions	Commemorative medallions may contain precious metals but are valued because of their rarity, numismatic value, or condition. This makes them non-investment precious metals, which are subject to sales tax in West Virginia.
Accessories	Accessory products are generally not made from precious metals but are used to help store, maintain, or display bullion items. Accessories are taxed in West Virginia.
Processed Bullion	Processed bullion refers to any precious metal product that has been given to a third party and altered to give it additional value beyond its bullion content. Processed bullion is also taxable in West Virginia.

How Does Hero Bullion Calculate Sales Taxes in West Virginia? 

We make buying gold and silver simple. During the checkout process, we’ll calculate and add all relevant sales taxes based on your shipping address. If you have questions or concerns about how we assessed West Virginia precious metal sales taxes to your order, please don’t hesitate to reach out to our customer support team. 

More information about how this state taxes precious metals can be found at the West Virginia Tax Division.