|(a) Definitions. The following words and terms, when
used in this section, shall have the following meanings, unless the
context clearly indicates otherwise.
(1) Bullion--Gold, silver, or platinum that is formed
into uniform shapes and quantities such as ingots, bars, or plates,
with uniform content and purity, as are suitable for or customarily
used in the purchase, sale, storage, transfer, and delivery of bulk
or wholesale transactions in gold, silver, or platinum.
(2) Currency--The coin and paper money of the United
States or another country that is designated as legal tender and circulates
and is customarily used and accepted as a medium of exchange in the
country of issuance.
(3) Numismatic coin--A coin that is not used as a medium
of exchange or whose price depends more on characteristics such as
beauty, rarity, and condition than on its metal content or its face
(b) Taxability of sales of gold, silver, or numismatic
coins, and gold, silver, or platinum bullion. Effective October 1,
2013, the sale of gold, silver, or numismatic coins or of gold, silver,
or platinum bullion is exempted from Texas sales and use tax.
(1) This exemption does not include gold, silver, or
numismatic coins, or gold, silver, or platinum bullion in the form
of jewelry or other items of adornment.
(2) The purchase of a commodity contract for items
exempt under this subsection is not a taxable transaction.
(c) Taxability of currency exchanges. The exchange
of currency for another form of currency based on an exchange rate
is not a taxable transaction if the invoice, receipt, billing, sales
slip or ticket, or contract issued to the customer identifies the
(d) Taxability of the sale of certain paper money.
The sale of paper money that is not currency is taxable as the sale
of tangible personal property. Sales or use tax is due on the total
sales price of the paper money.
(e) Use of gold, silver, or numismatic coins or gold,
silver, or platinum bullion to acquire taxable items. Persons who
use gold, silver, or numismatic coins or gold, silver, or platinum
bullion to acquire taxable items owe tax on the transaction based
on the sales price of the taxable item.
|Source Note: The provisions of this §3.336 adopted to be effective January 1, 1976; amended to be effective August 27, 1984, 9 TexReg 4344; amended to be effective June 7, 1987, 12 TexReg 1663; amended to be effective November 24, 1987, 12 TexReg 4198; amended to be effective August 10, 1990, 15 TexReg 4318; amended to be effective September 5, 2006, 31 TexReg 7133; amended to be effective July 12, 2018, 43 TexReg 4558