Whether you’re investing in bars or collecting coins, buying gold and silver is a little different from your standard purchase. When you take state laws into account, differing tax regulations add further considerations.
A smart bullion investor gets ahead of the game by learning what’s involved. When you buy your coins, bars & and rounds in Texas, for example, you won’t have to pay sales tax. Learn why not, and find out everything else you need to know if you plan to buy or sell bullion in the Lone Star State.
The Texas sales tax on precious metals was eliminated in 2013 in a piece of landmark legislation. Under this legislation, gold and silver are legally considered currency in Texas and therefore cannot be taxed when purchased in the state.
Texas' forward-thinking view on taxing bullion sales does not extend to the federal level, so capital gains tax still applies if you choose to sell your gold or silver coins, bars, or rounds, even to a dealer.
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.
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.
We maintain a list of Texas Coin Clubs to help local collectors connect. You can find a club to join, or make sure your club is listed.
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.
You will after you read our list. For example, the state flower was almost the cactus, and somewhere in Texas there may be buried Spanish treasure!
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