At Buy-Silver.com, we understand the value of holding real silver, which is why we will not recommend you to any “paper silver” services and why we only deal in the very best bullion dealers, focusing on storage companies who offer the best security, product and service. This is silver stored outside of the banking system and in your full name, making it as good as owning real silver, only much safer.
We also understand that some investors like to get their hands on small quantities of the real thing, and that sometimes even the most committed bullion storage customer likes to peruse a local shop or two, getting their hands on the real thing. That’s why we put this guide together, and on this page you can find links to dealers and sales tax information in your state.
There is no standard sales tax across the United States. There isn’t even a standard tax across each of the 50 states. To begin with, all states have a basic statewide sales tax, an amount that you must pay on top of all purchases (precious metals included). On top of that, you have local taxes, adding extra fees to the state tax. These local taxes change per county, and because there are dozens of counties in even the smallest states, it means that, on the whole, there are thousands of different sales tax rates across the entire United States.
To complicate things further, there are also different exemptions, ways of getting around this tax, when buying precious metals. In some states you simply need to buy more than $1,000 to qualify for a tax exemption (New York), in others you can get around it by purchasing legal tender, and in others there is no sales tax at all. In fact, across the US there are 5 states that do not have a sales tax (Alaska, Delaware, Montana, New Hampshire, Oregon) making them hotspots for precious metal investing. Others state have a low sale tax (Colorado) or you can live in states which applied the highest sales tax rate (Arkansas, Louisiana, Alabama)
In all of our state pages you can find the info you need on sales taxes and tax exemptions, allowing you to make an informed decision and letting you know whether buying from a local dealer is a viable option.
There are bullion dealers located throughout the United States. Regardless of where you live, from the biggest states (Texas) and richest cities (San Jose, Bridgeport, San Francisco) , to the smaller state (Rhode Island) and counties, you shouldn’t have to travel far to find a dealer near you. Of course, not all of these are worth your time or money and not all of them are reputable, which is why we have selected the best of the best and listed them according to state.
Of course, we can’t visit all of these dealers ourselves, so our decisions are based on what customers and experts have told us, what reviews are available and also on the experience of the dealers in question. Many of these dealers also have websites that you can look through and some of them will sell directly from that website. However, the online and offline bullion industries are very different and very rarely do these two worlds cross. That’s why the biggest online dealers don’t have offline bases and why the biggest offline dealers tend not to bother with the online side of things.
Washington D.C. also has its own taxes. You can click here for more information about precious metals taxes and local silver coins shops in Washington D.C.