Utah - ModernCoinMart

The State of Utah requires the imposition of sales taxes on specific items sold by ModernCoinMart and delivered to addresses within Utah. It is essential to ensure the collection of these taxes on (1) bullion products made of copper or palladium; (2) bullion products made of gold, silver, or platinum if the gold, silver, or platinum content of such product is less than 50%; (3) numismatic coins unless such numismatic coins are also used as legal tender; (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 Utah:

Legal Tender. Coins that must be accepted if offered in payment of a debt.
Bullion. Precious metal that is valued solely upon its precious metal content, whether in coin or bar form.
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.
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 Utah are calculated at checkout on the ModernCoinMart website based on (1) the tax implications associated with products sold by ModernCoinMart in Utah as previously outlined, and (2) the specific tax rates determined by the governing tax authority applicable to the designated delivery location within Utah.

ModernCoinMart began collecting sales taxes in Utah on May 1, 2024. Our sales tax license number in Utah is 16092101-002-STC.

If you are a Utah-based reseller and wish to file a Reseller Certificate with ModernCoinMart, please contact us at [email protected]. After we’ve received your filled-out Reseller Certificate, we’ll input it into our system. As long as your Reseller Certificate remains valid and active, you will not incur any sales taxes on future orders.

Please note: The summary above provides a condensed examination of sales tax laws and obligations within the State of Utah. 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 Utah, we suggest you visit the Utah State Tax Commission located at https://tax.utah.gov/.

©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.