Massachusetts

The State of Massachusetts requires the imposition of sales taxes on specific items sold by ModernCoinMart and delivered to addresses within Massachusetts. It is essential to ensure the collection of these taxes on (1) copper, platinum, and palladium products; (2) any single sales transaction of numismatic coins if the value of the sale is less than $1,000: (3) transactions involving the sale of gold or silver items by individuals, excluding numismatic coins,were the sale value is below $1,000; (4) individual sales of gold or silver legal tender from any nation provided that the transaction value remains under $1,000; (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 Massachusetts:

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.
Legal Tender. Coins that must be accepted if offered in payment of a debt.
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 Massachusetts are calculated at checkout on the ModernCoinMart website based on (1) the tax implications associated with products sold by ModernCoinMart in Massachusetts, as previously outlined, and (2) the specific tax rates determined by the governing tax authority applicable to the designated delivery location within Massachusetts.

If you are a Massachusetts-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 Massachusetts. 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 Massachusetts, we suggest you visit the Massachusetts Department of Revenue located at https://www.mass.gov/orgs/massachusetts-department-of-revenue.