Colorado Department of Revenue
1375 Sherman St
Denver , CO 80261
(303)238-7378 |
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Retail sales of coins and precious metal bullion are exempt from sales tax.. See FYI Sales #60 - Sales Tax Exemptions for Coins and Precious Metal Bullion.
Link: http://www.revenue.state.co.us/fyi/html/sales60.html
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All other product sales, including numismatic pieces not specifically exempted and the sale of jewelry and commemoratives, are subject to sales tax. Contact the Department of Revenue regarding sales tax licensing regardless of whether a business sells retail, wholesale, on consignment or at events.
Link: http://www.revenue.state.co.us/fyi/html/sales09.html
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| Local Licensing Authorities |
| Any person engaged in the business of buying valuable articles (or any person who purchases five or more valuable articles during any thirty-day period) must secure adequate identification from the seller. Purchasers must be 18 years or older. |
| The Purchaser must keep a register and record of transactions, using forms provided by the local law enforcement agency, with the following information: Name, address, birth date, and ID # from seller, Date, time, and place of purchase, Description of each article purchased and ID#. Written declaration of seller's ownership and how long it has been owned, Seller must sign name in register, Purchaser must keep these records for at least 3 years after the last date of purchase. |
| HOLDING PERIOD REQUIRED: Purchaser must hold all purchases for 30 days. Stamped and assayed gold and silver bullion and gold coins are exempt. Purchaser must still record identity of transferor. |
| REPORTS REQUIRED: Each purchaser must provide the local law enforcement agency a list of all valuable articles purchased the proceeding week and a copy of the seller's declaration of ownership. Form must include a physical description of the seller and the dollar amount of purchase. |
| EXEMPT FROM THIS ACT: Private collectors purchasing for private collections or businesses selling exclusively as collectors' items, and who pay for such purchases by check (checks must be held for records for at least 3yrs.). Retail exchanges where the retailer receives another valuable article as a trade-in if the trader can prove that the article was originally purchased from that retailer. |
| CITE: 18-16-101 through 110, C.R.S. |
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