Purchasing gold or silver bullion is a smart investment, but certain considerations should be taken into account. For instance, tax regulations can change depending on where you purchase. Below, you’ll find all you need to know about buying gold and silver in Minnesota.
Minnesota Sales Tax
Although there have been several attempts at making bullion purchases exempt from a state sales tax in Minnesota, none have been successful. Currently, the bullion sales tax rate sits at 6.875%, although that percentage may be higher in certain metropolitan areas like Minneapolis.
Minnesota Capital Gains Tax
Like all other states, Minnesota follows the federal capital gains tax. Your rate will depend on your income, but the total percentage will be no higher 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 Minnesota?
Coin clubs are a great way to connect with others in your area who share your interest in coin collecting and bullion investment. We maintain an updated list of local coin clubs throughout the state of Minnesota.
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 Minnesota?
The culture and history of the Land of 10,000 Lakes gives it a flair and flavor all its own. Continue reading to learn 20 interesting facts about Minnesota.