r/Platinum • u/Parking-Gazelle6892 • 2d ago
Platinum Purchases in California — tax exempt if over $2k?
Does anyone know the tax exemption rules for purchases of platinum in California?
I know for gold and silver specifically, a purchase of over $2,000 in one single transaction exempts the purchaser from paying California sales tax.
The rule is more ambiguous for other precious metals though. It says it covers monetized bullion (which is a government-minted legal tender coin), and the coin I am looking to purchase falls under that category/designation — it is a 1 oz platinum panda coin issued by the People’s Republic of China.
eBay has automatically added sales tax based on how the item itself was categorized by the seller. Would this be correct? Or am I exempt from paying sales tax based on the type of coin I’m purchasing?
Any advice and insight would be greatly appreciated!