Laws, Regulations & Annotations
Business Taxes Law Guide – Revision 2016
Sales and Use Tax Annotations
168.0000 COINS AND BULLION—Regulation 1599
(1) The purchase of a bag of silver having a face amount of $1,000 combined with 100 Mexican 50 Pesos is a nontaxable sale.
(2) Post-1970 clad coins are not considered monetized bullion since their primary purpose is as a medium of exchange.
(3) The purchase of two or more dissimilar coins on the same date is considered a single transaction if included in the original purchase contract.
(4) The delivery of coins at a single time but purchased under separate sales contracts is not considered a single transaction for the purposes of section 6355. Separate sales contracts constitute separate transactions notwithstanding one element of each execution occurring on the same day. Each transaction must have a face amount of $1,000 to be a bulk sale. 7/11/74.