Any bullion buyer knows that purchasing precious metals is very different from your average transaction. Indeed, state and federal taxes usually play a role in the buying process. Here is everything you need to know about purchasing gold or silver in Virginia.
Virginia Sales Tax
In Virginia, if your bullion purchase is greater than $1,000, your bullion will be exempt from state sales tax.
Virginia Capital Gains Tax
As with every other state, Virginia bullion purchases must adhere to a federal capital gains tax. Your rate will depend on you income; however, the total percentage will not exceed 28 percent.
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 Virginia?
Coin clubs are a great way to connect with other coin enthusiasts and precious metals collectors. We maintain an updated list to help you find the Virginia coin club most local to you.
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 Virginia?
Virginia is one of the oldest states in our country. Its unique history has brought about a culture and people all its own. Continue reading to learn 20 interesting facts about the state of Virginia.