If you are considering an investment in precious metals or bullion coins, it pays to do your homework first. In fact, tax laws and regulations will vary depending on the state in which you plan to do business.
If you plan to buy or sell bullion in the state of Maryland, here are the laws and regulations you should be aware of.
Maryland Sales Tax
In the state of Maryland, precious metal bullion and coins are exempt from any state sales tax. This law only holds true, however, if the amount of bullion purchased is worth $1,000 or more.
Maryland Capital Gains Tax
Federal Capital Gains Tax laws do apply for bullion purchases in Maryland. If you decide to sell your investment, you will be taxed no more than 28%.
A truly diversified portfolio includes precious metals, so when you're planning for retirement, consider adding qualified bullion to your Self Directed IRA. Contact us to get started or visit our Precious Metals IRA page to learn how you can invest.
Looking for a Local Coin Show?
We attend a number of coin shows throughout the country each year. Here's where and when you'll find us at an expo near you.
Want to Join a Coin Club in Maryland?
Are you interested in connecting with people who share your interest in coin collecting? We maintain a list of coin clubs around the state of Maryland. If you don’t see your current club on our list, let us know!
Want to Buy Coins Locally?
Looking for somewhere nearby where you can purchase coins or other precious metal items? Check out our coin shop directory to find a place to buy coins near you.
Do you know 20 facts about Maryland?
The state of Maryland is one of the oldest in the United States, and its history, culture and people make it a one-of-a-kind piece of the map. Continue reading to learn 20 interesting facts about our nation’s 7th state.