Buying Gold & Silver in Maine

It is difficult to decide how to invest your hard earned money. You never knew where the safest place would be which will give you the greatest reward. In Maine, the citizens struggle with the same questions. Maine is the least populous state in New England. It borders with Canada, and has tremendous beaches along it coastline, and has a great National Park in Arcadia. It I swell known throughout the country, and the world, for its Maine Lobsters, served in great restaurants everywhere. Based on its location, it was settled by Europeans, including at various times the English and French. It eventually became part of the United States in 1820, many years after its neighboring Massachusetts was integral in starting the American Revolution. Maine is a great place for tourists, and is the last stop travelling on Interstate 95 before you enter Canada.

As people in Maine contemplate where to invest their money, many factors will come into consideration. The housing market has lost its luster based on the overvaluing of homes and property, which completely crashed the system in 208. The stock market is unpredictable, leading to only the super rich and the brokers making any real money in the constant guessing game of when is the best time to invest in what company. There needs to be other alternatives for investing in your financial future. As you enter middle age, and start to envision finally retiring, you need to place your money n a position where it will provide you the most safety and security. Once you stop working, and you lose a steady income, you will have to rely on your investments and savings to provide you the support for all your expenses. The answer might possibly be in gold and silver.

In recent years, gold and silver have risen dramatically in value. There was a time when you could buy an ounce of gold for $400 dollars and an ounce of silver for $4 dollars. Now, gold is just below $1300 dollars an ounce, and silver has risen above $30 dollars an ounce, and even hit $49 dollars an ounce in recent years. This is tremendous. The value has gone up and outperformed the stock market. It just makes good sense to investigate making an investment in gold and silver.

Bullion Sales Tax in Maine

In Maine, like in other states in the country, there is the possibility of a sales and use taxes being imposed on any transaction conducted within the state. The state sales tax in Maine is 5.5% for any and all transactions. There is no additional tax imposed by the local municipalities, so this makes it a relatively decent market in which to conduct business. This sales tax applies to all purchases of gold bullion, currency, and legal tender comprised of gold, silver, or any precious metal. There are no exemptions no matter the size, shape, or amount of bullion you purchase at any given moment. There has been debate about eliminating this sales tax in order to draw local coin shows into the state, but as of now there has been no movement on any exemptions.

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