Paying sales tax on US Coin/Currency sales

And even more have no exemption at any level.

 

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Hello and my apologies, I believe I just reposted what Medoraman had written. I do have A question regarding that. So in the circumstance that I am buying a some sacajawea coins, which are one dollar at face value And I am paying one dollar then there should be no sales tax in California? I am buying 6 one-dollar coins for six dollars..

 

Now that I have a typo and already submitted that my second question is am I able to edit what I have written. Thank you kindly.

 

To me, you are trading currency for currency. You do not expect to pay tax to change a $20 into two $10s at a bank, you shouldn't pay tax to change 6 ones for 6 sacagaweas.

 

Ebay started collecting sales tax on everything relatively recently. I want to say within the last two years.

 

This is one complex and interesting thread of topic
Seems like 90 percent of the states in the union , you have to some kind of tax on something . Just gets a little sticky , crossing state lines of what you have or want to bring , in a manner . . . Imo

 

If you are acquiring 6 Sac dollars for six dollars you are just doing a currency exchange and no sales tax applies. If you were exchanging MORE than the six dollar face value of the coins then you are purchasing "collectibles" and sales tax would apply.

 

Profits on numismatic and precious metals bullion is taxed at the federal level as capital gains at 28%. At the state level, many states apply sales tax on numismatic and PM purchases. Some, like Florida, don't apply sales tax on numismatic purchases (don't know about PM). Now, if you buy many other commodities like stocks, bonds, houses, etc. that are subject to capital gains tax, you also do not pay sales tax (even though some states have an incredibly stupid thing called an "intangibles tax" on investment vehicles). Conversely, if you buy a car, you pay sales tax but not capital gains. It always seemed like unfair tax design and logically inconsistent to give numismatic purchases the worst of both worlds where you have to pay sales tax on the front end and capital gains (adding insult to injury - at the short-term rate) on the back end.
If numismatic items are investments, then they should not be assessed sales tax. If they are commercial sales items, then they should not be assessed capital gains. IMHO.

But since we are unlikely to change any state's or the fed's policy in their arrogance and zeal to confiscate our wealth, then I have a suggestion: If a coin has a PM or monetary value (if still legal tender), then the sales tax should be based upon the difference between the PM or the monetary value (whichever is greater) and the sales price.