The state of California does impose a sales tax on the sale of precious metal bullion and numismatic coins, but with a significant exception: if the total amount of a single sales transaction for these items is $1,500 or more, the transaction is exempt from sales tax. This exemption applies whether the sale is to a California resident or to a non-resident while in California.
Bullion, in this context, refers to precious metals like gold, silver, platinum, or palladium in a bulk form that is regularly traded on commodity markets, and this can be in the form of bars or coins.
This tax law is outlined in Regulation 1599 of the California Sales and Use Tax Regulations. However, please note that laws and regulations can change over time, and the specifics can sometimes be complex. For the most current and detailed information, it’s a good idea to consult a legal or tax professional or the California Department of Tax and Fee Administration.
