answersLogoWhite

0

If you buy a gold or silver bullion coin or any coins from the US Mint, it does not charge a tax. Some States do have sales tax on numismatic items but the government does not tax you if you have gold and silver coins.

User Avatar

Wiki User

14y ago

What else can I help you with?

Continue Learning about Accounting

Is cancellation of debt taxable in New Jersey?

On February 15, 2010 I called the State of New Jersey and asked this specific question. I was directed to reference a court case in 2000, Weintraub vs The Director. The State representative summarized the case by saying that cancellation of debt income, whether it be business or personal (such as credit card debt cancellation received on a 1099-C form) is NOT taxable for New Jersey state purposes. It is however, taxable at the federal level.


Is gain on sale of rental property taxable to a non resident of New York state?

Yes, both at the Federal and State levels. Your business activity made you taxable on this, and possibly other income, too NYS whether you reside there or not.


What percentage of wages is withheld from your pay check for taxes by the Arizona state government?

It depends on your gross earnings; The new withholding tables are based on a percentage of gross taxable wages. "Gross taxable wages" is the amount that meets the federal definition of "wages".


Are firewood log taxable in NJ?

Yes, firewood logs are generally subject to sales tax in New Jersey. The state considers firewood to be a tangible personal property, which means it falls under taxable items when sold. However, if the firewood is sold for use in residential heating, it may be exempt from tax; it's best to consult the New Jersey Division of Taxation for specific circumstances.


Are yearbooks taxable in nys?

In New York State, yearbooks are generally considered taxable because they are classified as tangible personal property. However, if the yearbook is sold as part of a fundraising effort for a school, it may be exempt from sales tax under certain conditions. It's important for schools and organizations to consult the New York State Department of Taxation and Finance for specific guidance based on their circumstances.

Related Questions

Price of Us Olympics gold and silver commerative coins set?

Many Olympic gold and silver sets were made, the denominations, date and number of coins is needed. Please a new question with more information.


What happened to the ancient Romans when they stopped using gold and silver in their coins?

The Romans did not stop using gold and silver in their coins. There was continuous debasement (reduction of the precious metal content) of the gold and silver coins to the point that they became worthless. The gold and silver content became minimal, however, the use of these two mentals was not actually stopped. This caused hyperinflation. To address this problem Diocletian reformed the Roman coin system and introduced a new gold coin (the solidus) and a new silver one (the argenteus, valued at 1/10 of a solidus) which had a much higher precious metal content. His successor Constantine suspended the issuing of the silver coin to concentrate on minting large quantities of the solidus, which became the standard of the Roman currency system. He then introduced two new silver coins, the millarense (valued at 1/12 of a solidus) and the siliqua (valued at 1/24 of a solidus).


What is the silver content of New Zealand pre decimal coins?

All New Zealand silver coins from 1933 to 1946 had a silver content of 50%. From 1947 onwards, all New Zealand "silver" coins were made from a copper-nickel alloy.


What is in a sixteenth century treasure chest?

The treasure in a sixteenth century treasure chest would have contained gold and silver coins. It might also contain gold and silver objects taken from the New World.


What is the value of a 1889 dollar piece?

Both gold & silver one dollar coins were struck in 1889. Post new question as to type.


Where can one purchase American Eagle silver coins online?

You have a few options if you wish to purchase American Eagle silver coins online, such as New York Gold Co. Our clients consistently return to us to make new buys or deals since we offer the best costs, items, and venture guidance for valuable metals.


Is there gold and silver in New Hampshire?

Much gold very silver


Value of silver coins?

Are they U.S. coins? Which denominations? Post new question.


What is the new Pokemon Silver and Gold called?

Heart Gold and Soul Silver


What is the silver content of a 1946 New Zealand Sixpence?

All New Zealand "silver" coins from 1933 to 1946 inclusive had a 50% silver content. All New Zealand "silver" coins from 1947 onwards, were made from a copper/nickel alloy.


What is the value of a 1994 5 dollar silver proof coin worth?

The US Mint does not produce $5.00 Silver Proof coins. Are you sure it's not gold? Is it a US coin? Post new question.


Silver 1888 gold eagle coin?

??? Is it silver or is it gold? The U.S. didn't make any bimetallic coins in the 19th century. Please post a new question with the coin's denomination and size; that'll determine whether it's silver or gold. Also look for a possible mint mark on the back. If there is one it'll be a small letter such as O, S, or CC.