Ohio - ModernCoinMart

The State of Ohio requires the imposition of sales taxes on specific items sold by ModernCoinMart and delivered to addresses within Ohio. It is essential to ensure the collection of these taxes on (1) bullion comprised of gold, silver, platinum, or palladium that does not meet certain purity requirements; (2) copper products including coins or bullion; (3) accessory items; and (4) 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 Ohio:

Bullion. Precious metal that is valued solely upon its precious metal content, whether in bar, round, or ingot form (Note: In Ohio, coins comprised primarily of gold, silver, platinum, or palladium are excluded from the definition of bullion).
Purity Requirements. Gold bullion with a minimum purity of 0.995%; silver bullion with a minimum purity of 0.999%; platinum bullion with a minimum purity of 0.9995%; and palladium bullion with a minimum purity of 0.9995%.
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 Ohio are calculated at checkout on the ModernCoinMart website based on (1) the tax implications associated with products sold by ModernCoinMart in Ohio, as previously outlined, and (2) the specific tax rates determined by the governing tax authority applicable to the designated delivery location within Ohio.

ModernCoinMart began collecting sales taxes in Ohio on May 1, 2024. Our sales tax license number in Ohio is 99155376.

If you are an Ohio-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 Ohio. 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 Ohio, we suggest you visit the Ohio Department of Taxation located at https://www.tax.ohio.gov/.

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