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Buying Gold & Silver in Georgia

The economy is difficult for so many people in our country. They do not know what to do with the rising cost living, decline in the job markets, and instability in or financial institutions and housing markets. In Georgia, it is no different. The government seems to always be on a constant state of standing still never doing anything of substance, always putting on a show, especially in an election year. There are serious concerns about our national debt, our deficit, and our reliance on foreign money to pay our bills. As individuals, we have lost total faith on our politicians, our financial markets, and our community leaders. Our economic future is very important to us, and we need some indication of security and stability before we make any worthwhile investment. The stock market is at an all time high, so maybe investing in stocks and bonds might be the right direction to take, however, how do you decide on the right company, and what is the right time to invest or sell shares in that company. You could buy a piece of property, as the old axiom goes, real estate will never lose its value. Well, that has been proven to be false over the last 6 years, as there have been so many home s overvalued, and mortgaged to the hilt. In Georgia, a good option might be to buy Gold, Silver, or other precious metals.

Georgia has a long and deep history connected with the gold industry. In the early 1800s, gold was discovered among the hills and mountains of Georgia. This led to an influx of prospectors and miners, all looking to hit it rich. There was such a boom for the economy the federal government decided to build a mint in Georgia. This remained in operation until the 1860’s, during the American Civil War, when the gold supply could not support having such an institution in Georgia. Although, it is questionable how long a United States Federal Mint would have been in operation in the Deep South during the war, regardless of the supply of gold. Based on this history, over the years many precious metals dealers, specializing in gold and silver have opened across the various cities in Georgia.

Bullion Sales Tax in Georgia

When you buy a precious metal, be it gold, silver, platinum or any other, it is a transaction that may be subject to ax. If you deal in currency or coins, especially above face value, you may be required to pay sales and use tax to the local municipalities. Under Georgia tax laws and regulations, the state wide sales tax is 4%, with local rates running an additional 2-3%. However, using its wisdom and understanding of tradition in Georgia, the legislature passed exemptions to the state sales tax, and any local sales tax, for all transactions involving coins, currency, and bullion of gold, silver, or platinum. This exemption applies regardless of the amount, size, or shape of the product. It is important to note that he law classifies bullion as only gold, silver or platinum, nothing else. Supporting resources: https://etax.dor.ga.gov/salestax/TLP_2012_EXEMPTION_CHART-_Revised_09-1-12.pdf

Golden Eagle Coins, being an out of state retailer, does NOT have to charge sales tax to Georgia 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.