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<p>[QUOTE=&quot;John Burgess, post: 5292430, member: 105098&quot;]Oklahoma:</p><p><br /></p><p>SB 862 providing a sales-tax exemption for &quot;sales of gold, silver, platinum, palladium or other bullion items such as coins and bars,&quot;</p><p>The state&#039;s statute (68 O.S. Supp. 2013, Section 1357) will be amended to read as follows:</p><p><br /></p><p>Sec. 1. (42) Sales of gold, silver, platinum, palladium or other bullion items such as coins and bars and legal tender of any nation, which legal tender is sold according to its value as precious metal or as an investment. As used in the paragraph, &quot;bullion&quot; means any precious metal, including, but not limited to, gold, silver, platinum and palladium, that is in such a state or condition that its value depends upon its precious metal content and not its form. The exemption authorized by this paragraph shall not apply to fabricated metals that have been processed or manufactured for artistic use or as jewelry.</p><p><br /></p><p>explanations I found &quot; If any coin or other legal tender is created and presented for sale for more than its face value, or the value of the content of metal, than it is deemed for artistic value and is taxable. In other words, if you buy a gold coin with a face value of $5 dollars, and a weighted gold market price of $100 for $300 dollars, this is a taxable transaction.&quot;</p><p><br /></p><p>&quot;</p><p><font size="4"><b>Oklahoma State Sales Tax Requirements for Bullion &amp; Collectibles Industry</b></font></p><p>The State of Oklahoma requires the collection of vendor use taxes on certain products and delivered to an Oklahoma address. These taxes must be collected on (1) copper products; (2) coins that are not currently, or were not previously, used as legal tender in the United States or any foreign country; (3) accessory items; and (4) processed items.</p><p>The following definitions apply to products on which taxes must be collected in Oklahoma:</p><p><br /></p><ul> <li>Coins. A coin made of gold, silver, or other metal which is or has been used as legal tender in the United States or any foreign country sold for more than face value.</li> <li>Accessory Items. Items such as holders, tubes, coin flips, and apparel.</li> <li>Processed Items. Precious metals that have been processed by third parties into items that are valued on more than their precious metal content, such as statues or colorized coins.&quot;</li> </ul><p>MY OPINION: in other words, unless it&#039;s a coin sold at face value or as bullion for the bullion metal value, it&#039;s a taxable transaction. </p><p>I don&#039;t live in Oklahoma, Just spent 20 minutes looking at it and I don&#039;t know if I have the newest information on the subject.[/QUOTE]</p><p><br /></p>

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