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Buying Gold & Silver in Connecticut

A nice home with a manicured lawn lay out in front. A large rolling driveway leads to a three car garage. A three story residence with guest rooms, maid’s quarters, and living space for a large family. These are signs of wealth. As you drive through the streets of the cities in Connecticut, you cannot help but be overwhelmed by a presence of money. This state is located near a major financial center in New York City, as well as near another large commercial center in Boston, Massachusetts. It also has access to the costal regions of the Long Island Sound, and the historic money located along the shores of Rhode Island. All of this rotates around the Great State of Connecticut, making it a place for wealth and prosperity. It has a long tradition and history concerning the formation of our country. It was one of the original colonies, and was instrumental in the fight for freedom and liberty in the American Revolution. It has played a major role in the shaping of our country.

Many wealthy members of society choose to live in the many spacious areas and regions in the state of Connecticut. In recent years, cities like Stamford and New Haven have grown into their own centers of commerce, easing the reliance of the state’s residence on the nearby states for sources of income. The many wealthy residents have money to invest and often need to invest it wisely in order to maximize their earning potential. The stock market is fine for some, but others need a more stabilizing influence for their portfolio, something that offers security, confidence, and reliability for their economic future. A smart investment in gold and silver may be the answer to all the problems for Connecticut state residents.

Gold has become a more desirable commodity based on recent history of financial institutions collapsing, countries going bankrupt, and the housing crisis almost bringing down our economy. You could buy gold at $500 dollars an ounce not that long ago, and now it is hovering near $1300 dollars an ounce. It has been quite a remarkable increase. Over the last few decades, gold has outperformed all other commodities, making it a worthwhile investment for anyone, not just the wealthy. Buying gold bullion or coins, is a transaction like any other in the market place, and taxes must be considered.

Bullion Sales Tax in Connecticut

Under Connecticut tax laws and regulations, www.cga.ct.gov, a sales and use tax is imposed on any transactions under one thousand dollars. This means if you purchase gold or silver in currency, or bullion you only pay a sales tax if you transaction is worth less than a thousand dollars. This makes it ideal to purchase gold and silver in Connecticut. Even if you only buy a couple of hundred dollars worth of gold, it is still a great place to buy, as the state sales tax is relatively low. Across the state, Connecticut’s sales tax is 6.350%. There is no local sales tax. This exemption only applies to gold and silver, not all precious metals.

Golden Eagle Coins, being an out of state retailer, does NOT have to charge sales tax to Connecticut residents. Browse our selection of tax-free gold and silver products. Please take note that we are not experts on tax issues, and you may be liable to pay local Use tax. Please contact your local tax professional for more information.