Massachusetts - LOCAL DIRECTORY GUIDE
The New England state of Massachusetts has played a significant role in American history. The present-day state of Massachusetts was the location of the Plymouth colony founded by the Pilgrims in 1620, the Salem Witch Trials, and several notable events of the Revolutionary War, and is also home to Harvard University, the oldest college in the United States.
It is the seventh smallest state, yet one of the most densely populated. More than half of the state’s population lives in the Boston area. Many of the state’s best-known coin dealers are also located in Boston.
Bullion Sales Tax in Massachusetts
Within Massachusetts, state law allows a sales tax exemption for certain sales over $1000. (http://www.mass.gov/bb/fy97h1/PART4.HTM). This exemption includes “Rare coins of numismatic value; gold or silver bullion or coins; and gold or silver tender of any nation except the Republic of South Africa or Namibia which is traded and sold according to its value as precious metal.” There are several notable numismatic items which do not fall under this exemption, including paper currency, the South African Krugerrand bullion coin, and platinum or palladium bullion, so be sure you understand the tax law if you’re buying coins and bullion in Massachusetts.
Purchases totaling less than $1,000 do not qualify for this exemption. They are taxed at the state sales tax rate of 6.25%, plus any applicable city or county taxes. Because of the way this exemption is structured, many Massachusetts investors wait until they are able to purchase at least $1,000 in coins or bullion in a single transaction before visiting a local coin dealer.
Precious Metal and Coin Dealers Near Me
If you seek a reputable local wholesaler near you where you might make purchases in person, allow APMEX to be of service. Browse our list of wholesale dealers who may be able to assist you:
Thank you for joining APMEX in supporting local wholesalers. Personal relationships are an important part of the Precious Metals industry, and as eager as we are to be your valued retailer, we hope you will reach out to local companies, too. Local experts in the Precious Metals industry may be a valuable source of information and camaraderie as you continue down your path of investing collecting.
Local City Information
- Boston, Massachusettes Local Directory
When you are shopping for Precious Metals within Boston, it’s important to remember that a 6.25% sales tax applies to coin and bullion purchases, though some sales over $1,000 are exempt from this tax. Double check with your coin dealer before you commit to any purchases.
View Boston City Guide