Minnesota

The State of Minnesota requires the imposition of sales taxes on specific items sold by ModernCoinMart and delivered to addresses within Minnesota. It is essential to ensure the collection of these taxes on (1) copper products; (2) all coins; (3) precious metal bullion that does not meet certain purity requirements; (4) accessory items; and (5) 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 Minnesota:

Coins. A coin made of gold, silver, or other metal which is or has been used as legal tender.
Precious Metal Bullion. Any precious metal bullion that does not meet the criteria outlined for Precious Metal Bullion. Precious Metal Bullion is precisely defined as “bars or rounds that consist of 99.9 percent or more by weight of either gold, silver, platinum, or palladium and are marked with weight, purity, and content.”
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 Minnesota are calculated at checkout on the ModernCoinMart website based on (1) the tax implications associated with products sold by ModernCoinMart in Minnesota, as previously outlined, and (2) the specific tax rates determined by the governing tax authority applicable to the designated delivery location within Minnesota.

ModernCoinMart began collecting sales taxes in Minnesota on May 1, 2024. Our sales tax license number in Minnesota is 9492730.

If you are a Minnesota-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 Minnesota. 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 Minnesota, we suggest you visit the Minnesota Department of Revenue located at https://www.revenue.state.mn.us/.

©2024 ModernCoinMart.com (MCM), is a retail distributor of coin and currency issues and is not affiliated with the U.S. government. The collectible coin market is unregulated, highly speculative and involves risk. MCM MAKES NO WARRANTIES, REPRESENTATIONS, OR PROMISES AS TO ITS PRODUCTS EXCEPT THOSE SET FORTH IN ITS TERMS AND CONDITIONS, AND NO IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS ARE MADE. Prices, facts, figures and populations deemed accurate as of the date of publication but may change significantly over time. All purchases are expressly conditioned upon your acceptance of our Terms and Conditions; to decline, return your purchase pursuant to our Return Policy. © All rights reserved.