Gold  $1,763.30  -13.40     Silver  $19.79  -0.42     Platinum  $927.00  -15.30
Michael Scott Gold & Silver
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Sales Tax
In short, the state of Texas does not require precious metal dealers to collect sales tax on gold and silver bullion coins and bars. However, sales tax is required on certain platinum products.
Regulations for the State of Texas
The State of Texas requires the collection of sales taxes on certain products delivered to a Texas address. These taxes must be collected on (1) copper and palladium bullion products; (2) copper, palladium, and platinum coin products; (3) accessory items; and (4) processed items.
Definitions
  • Bullion - Precious metal that is valued solely upon its precious metal content, whether in coin or bar form.
  • Coin - A small, flat, round piece of metal which is, or has been used as legal tender, with a number showing its value.
  • Accessory Items - Items such as holders, tubes and coin flips.
  • Processed Items - Precious metals that have been processed by third parties into items that are valued on more than just their precious metal content.
Taxable Products
The following Platinum bullion products are the only products we sell that require sales tax collection in the state of Texas.
  • American Platinum Eagle
  • Australian Platinum Kangaroo
  • Austrian Platinum Philharmonic
  • British Platinum Britannia
  • Canadian Platinum Maple Leaf
Call 817-617-3011 For More Information
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Michael Scott Gold & Silver  1521 N. Cooper St, Suite 216, Arlington, TX 76011
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