Buying Gold & Silver in Maryland

Looking out at the beautiful waters of the Chesapeake Bay brings a level of serenity and peace, as you relax along the shores of the great state of Maryland. It is a picturesque view capturing all that is great about America. Maryland occupied a unique position along the coast. Its waterways offered an entry deep into the countryside. This was very important during the battles and conflicts fought on our soil during the American Revolution and the American Civil War. Maryland was one of the original 13 colonies, and through the years has retained it importance in American politics and culture. It is one of the smaller states in land size in the union, while at the same time remaining one of its most populous. It has a high average median income, resulting in it being one of the wealthiest states. This has resulted in many of its residents looking for prime investing opportunities.

The current economic climate has lead to many questions and concerns. People no longer feel safe in investing in the usual methods. As the population grows older, they are looking to invest their money in areas which will yield a stable and secure financial future. When the time comes for retirement, folks want to be able to survive on their savings and investments. There are not many options. The housing market collapse has made real estate a worthless proposition. The stock market is unpredictable, and without investing millions in stocks and bonds, rarely will you make any real money. The financial institutions do not inspire confidence after the last five or six years. It might be the perfect time to look into investing in gold or silver.

There was a time when gold was the currency of the time, the symbol of money used to value products and services. The worth of gold was measured by what others were willing to give for it. Not much has changed. It is no longer used as money; it is primarily an investment tool. There was a time when you could purchase an ounce of gold for around $500 dollars. Now, the price of an ounce of gold hovers around $1300 dollars. The same can be aid of silver, which used to trade around $4 dollars an ounce, and recently hit a high of $49 dollars an ounce, and has settled at over $30 dollars an ounce. These are remarkable increases, and are worth any investment.

Bullion Sales Tax in Maryland

In Maryland, just like in other states if you make a purchase of gold or silver, you may be subjected to a sales and use tax. Maryland has a state wide 6% sales tax, with no additional tax levied by local municipalities. However, under Maryland tax law and regulations,, there is an exemption for all purchases of precious metal bullion and coins over $1,000 dollars in a single transaction. This is defined as bullion which has been refined and is used as legal tender in the United States, or any precious metal which has its value based on its content and not its form.

Golden Eagle Coins, being a precious metals dealer who deals in tax-exempt bullion products, does NOT have to charge sales tax to Maryland residents over $1000. 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.