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Buying Gold & Silver in Massachusetts

Europeans sailed across the Atlantic and landed on the shores of what would eventually become the state of Massachusetts, and started building camps, towns, and settlements. The historical ship The Mayflower came ashore at Plymouth Rock, and evidence suggests this was one of the earliest known encampments on American soil. In the rural areas of the state, a fear of the unknown raised up, as religious zealotry took hold in Salem, leading to the trials of young women for witchcraft in the 1690s. Over the years, a center of commerce slowly grew in the city of Boston. As tensions rose, and a national spirit emerged in the colonies, Boston, and the citizens of Massachusetts, were front and center. The Battle of Lexington and Concord, Paul Revere’s Ride, and the Boston Tea Party. All of these are memorable moments in our country’s march towards Independence. Boston is still a center of excellence in our country, and one of our leading educational institutions, Harvard is located in Cambridge, right next to downtown Boston.

The citizens of Massachusetts are educated, tough, and well meaning Americans all looking out for what is best for the country and their own lives. Whether it is a blue collar worker who screams his head off at Fenway Park, or a white collar worker sipping tea on the Commons, the economic future is always something which needs to be considered for their lives. They need to place their investments in products and areas which will present positive stable growth, as well as a sense of security that money will be there as they grow older for living expenses and any unforeseen circumstances. The citizens of Massachusetts could invest in real estate, but the collapse of the housing market has put a damper on those ideas. They could place their money in stocks and bonds, but Wall Street is so unpredictable, and it seems like only brokers ever make any real money, along with the super rich of course. The answer may lie in gold and silver.

Bullion Sales Tax in Massachusetts

Buying gold, silver, or other precious metals is a wise investment, as the value of these products has risen considerably over the last few decades, and shows no sign of reversing that trend. Once you make a purchase, you simply watch the market and determine what he current value of the precious metal is, and decide when and if you want to sell. There is little research, very few outside influences, and no government policies that will cause a collapse of the market. However if you do invest in precious metals, you may have to pay a sales and use tax. In Massachusetts, like other states, there is a state wide sales tax of 6.25%, with no additional taxes by any local municipalities. Under Massachusetts tax laws and regulations, www.mass.gov, there is an exemption from the sales tax for a transaction over $1,000 dollars involving collectible coins, gold and silver bullion, and any gold or silver coins used as legal tender which is valued for the content not their use, except for the legal tender in South Africa and Nambia.

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