Maryland

The State of Maryland requires the imposition of sales taxes on specific items sold by ModernCoinMart and delivered to addresses within Maryland. It is essential to ensure the collection of these taxes on (1) copper products; (2) any single sales transaction of gold, silver, platinum, or palladium where the transaction amount is less than $1,000; (3) numismatic coins; (4) coins that have not been used or designated as legal tender in the United States or any other country; (5) accessory items; and (6) processed items. All other products sold by ModernCoinMart are exempt from these taxes.

The following definitions apply to items that are subject to state tax collection in Maryland:

Single Sales Transaction. Determined per invoice, and not on a line-item basis.
Numismatic Coins. Coins that carry an augmented external value exceeding the inherent worth of the precious metal they hold, often ascribed to factors like scarcity, quality, age, or external market forces.
Medium of Exchange. Coins or currency that are acceptable as a measure of value and a standard of exchange for goods and services.
Accessory Items. Items such as holders, tubes, coin flips, and apparel.
Processed Items. Processed precious metals altered by third-party entities to create items valued for attributes beyond their intrinsic metal content, such as embellished coins or sculptures.

Sales taxes in Maryland are calculated at checkout on the ModernCoinMart website based on (1) the tax implications associated with products sold by ModernCoinMart in Maryland, as previously outlined, and (2) the specific tax rates determined by the governing tax authority applicable to the designated delivery location within Maryland.

ModernCoinMart began collecting sales taxes in Maryland on May 1, 2024. Our sales tax license number in Maryland is 35235642.

If you are a Maryland-based reseller and wish to file a Reseller Certificate with ModernCoinMart, please contact us at [email protected]. Upon receipt of your completed Reseller Certificate, we will promptly enter it into our records. Provided that your Reseller Certificate maintains its validity and remains active, no sales taxes will be applied to subsequent orders.

Please note: The summary above provides a condensed examination of sales tax laws and obligations within the State of Maryland. While comprehensive, it may only encompass some facets of the regulations. Its purpose is to outline the pertinent laws and requirements applicable to transactions involving ModernCoinMart within the state. If you would like to research the sales tax laws and requirements in the State of Maryland, we suggest you visit the Maryland Comptroller located at https://taxes.marylandtaxes.gov/Business_Taxes/.

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