Buy Gold & Silver Bullion Online | Free Shipping - JM Bullion (2024)

Buy Gold & Silver Bullion Online | Free Shipping - JM Bullion (1)

With the prevalence of online precious metals dealers these days, people often wonder if they are required to pay sales tax on precious metals purchases, especially purchases made online. Here we will outline some information on this issue for informational purposes only. Nothing contained here should be construed as tax advice, and any questions relating to any tax matters should be directed to your CPA or tax adviser.

Whether or not one must pay sales tax on a precious metals purchase depends on where you are located. Some states require the collection of sales tax while others do not. Some states also may charge sales tax up to a point, and there may be exemptions beyond that point.

For example, a purchase of less than $1,000 may be subject to sales tax but above $1,000 may not be subject to the tax. It is important to also keep in mind that tax laws can change and, therefore, the information contained here is believed to be accurate, but no warranties are being made as to the accuracy. One should always conduct their own due diligence.

At the heart of the matter is whether or not gold, silver and precious metals should be viewed as an investment or even as a currency, or if they are simply just like any other physical property such as clothing, automobiles or furniture. Although it seems that the notion of gold, silver and other precious metals purchases beingviewed as an investment and thus not be subject to sales tax may be gaining some traction, many states do, in fact, still charge sales tax on precious metals.

It is important, therefore, to determine if your state charges sales tax on precious metals. The best way to find out about your specific location is to consult your CPA or tax adviser. One can also look to your state’s department of revenue for answers regarding these issues.

Here is a basic guide that outlines some of the states and their policy on precious metals sales tax.For more information, you can view this helpfulstate by state breakdown.

All Market Updates are provided as a third party analysis and do not necessarily reflect the explicit views of JM Bullion Inc. and should not be construed as financial advice.

Buy Gold & Silver Bullion Online | Free Shipping - JM Bullion (2024)

FAQs

Which is better apmex or JM Bullion? ›

If you're looking for the widest array of products in all categories, APMEX should be your first stop. If you value an exceptional overall customer experience, you should also check out JM Bullion.

What is the best gold buying site? ›

Some of the most trustworthy and well-known gold dealers include JM Bullion, American Precious Metals Exchange (APMEX) and American Hartford Gold.

What is the most trusted place to buy gold and silver? ›

The two most common places where you can purchase precious metals are from an online dealer, such as JM Bullion, or a local coin shop.

Is it safe to buy gold from JM Bullion? ›

With its dedication to high quality products and excellent customer service, JM Bullion is regarded as one of the leading dealers in the precious metals industry. To uphold our outstanding reputation and ensure the safety of your investment, we offer free shipping on orders over $99 and insurance on all orders.

Has JM Bullion sold fake gold? ›

One of the most common questions we receive about our products is “How do I know the gold or silver I buy is real?” Well, fake gold and silver does exist — there is no doubt about that — but here at JM Bullion we take a great deal of pride in assuring the authenticity of each of the products we sell.

Who is the best company to buy gold coins from? ›

Our Top Picks for Best Online Gold Dealers of 2024
  • American Hartford Gold: Best Reputation.
  • APMEX: Best Product Selection.
  • Goldco: Best Investor Education.
  • JM Bullion: Best for Transparency.
  • Orion Metal Exchange: Best for Lowest-Price Guarantee.
Aug 28, 2024

Is it better to buy 1 oz gold bar or coin? ›

If you're looking for a convenient, flexible addition to your investment portfolio, with capital gains tax benefits, then gold coins could be the best choice for you. If you're looking to make a larger investment and want to avoid paying a higher premium, then gold bars could be your best option.

Is it better to buy gold locally or online? ›

If you want the best price and largest selection to choose from, buying gold online may be your best option. On the other hand, if you'd like to personally inspect the gold before you purchase it, support your local economy and get your gold as soon as you buy it, a local shop may be a better fit.

How much is 1 oz of gold? ›

Gold Spot Price
Gold Spot PricesGold PriceSpot Change
Gold Price Per Ounce$2,595.30 USD$14.10 USD
Gold Price Per Gram$83.44 USD$0.45 USD
Gold Price Per Kilo$83,440.77 USD$453.33 USD
Live Metal Spot Prices (24 Hours) Last Updated: 9/18/2024 2:01:46 PM ET

What does Dave Ramsey say about buying gold and silver? ›

I'd stop investing in gold and silver completely. I don't put money in precious metals at all, because they have a lousy long-term track record. — Dave Ramsey is CEO of Ramsey Solutions.

Is Walmart gold bars real? ›

Walmart sells gold, and the company expanded its inventory since 2023 to include a wide variety of different gold bars from around the world. As of August 2024, Walmart sells branded gold bars from several popular mints.

How much is 1 oz of silver? ›

Silver Spot Price
Silver Spot PricesSilver PriceSpot Change
Silver Price Per Ounce$30.59 USD- ($0.29) USD
Silver Price Per Gram$0.98 USD- ($0.01) USD
Silver Price Per Kilo$983.49 USD- ($9.32) USD
Live Metal Spot Prices (24 Hours) Last Updated: 9/18/2024 1:39:16 PM ET

What is the lawsuit against JM Bullion? ›

Crosner Legal is proud to announce the successful settlement of a class action lawsuit against JM Bullion, Inc., an online precious metals dealer, over a significant data breach that compromised the personal information of thousands of customers.

Is JM Bullion or APMEX better? ›

However, exploring JM Bullion revealed a broader range of collections and product offerings. Simply put, the APMEX website allows you to invest in gold, silver, platinum bullion, and rare coins, with various products in each category. On the other hand, JM Bullion also supports investment in palladium and copper items.

How does JM Bullion ship gold? ›

Orders are shipped in inconspicuous packaging via either USPS, UPS or FedEx. * All shipments are fully insured. Our shipping policy, which is based on order size, can be viewed here.

Can APMEX be trusted? ›

Is APMEX legit? Yes, the company is accredited by the BBB and has been in business since 2000.

Which bullion brand is best? ›

What are the best gold bar brands to buy as an investor? Investors should always look towards the most respected, internationally recognized manufacturers when buying gold bars. We recommend PAMP Suisse, The Perth Mint, Valcambi Suisse, The Royal Canadian Mint, and Credit Suisse gold bars.

Why is APMEX spot price higher? ›

The live spot prices move up and down related to supply and demand. When buying and selling during increased demand, precious metal dealers may charge a higher premium than usual. Fewer sellers are willing to sell precious metal bullion at the spot price during periods of high demand.

Is APMEX a reputable dealer? ›

For over 15 years, APMEX has provided customers with an easy shopping experience they can trust. We pride ourselves on transparency and consider every customer review to be valuable feedback. Check out some of these reviews below and see why we have a 98% customer satisfaction rating.

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