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Buying Gold & Silver in North Carolina

Driving from the North or South along Interstate Highway 95, you will come across a large state which is almost as long as it is wide. Although the Mason-Dixon Line occurs a little farther north, North Carolina is the first real southern state along your journey down the coast. The state has played a major role in the development of our country, being one of the original 13 colonies, and later a major player in the American Civil War. During the lead up to the American Civil war, cotton was not the only crop being produced in the south with great success. Tobacco was a staple in the economy of many southern states, especially North Carolina. The economic reliance on these crops, and the ability to freely trade the crops with other countries, along with the issue of slavery, lead to the tensions which exploded into our bloodiest war.

After the war, North Carolina kept producing tobacco, and it grew into a blooming and flourishing industry. The state has also produced many fine educational institutions. Two of the finest are Duke University and University of North Carolina, which are located within a stone’s throw of each other not only are these two intellectual institutions, but they have been fierce rivals in collegiate sports., especially college basketball. In North Carolina, you are a Blue Devil or a Tar Heel, never both, and always one or the other. The stability of the tobacco industry allowed or growth in other areas, and Raleigh and Charlotte are two of the fastest growing regions in the country. They are developing other commercial and financial sectors, leading to an increase in diversity in the state.

With the troubling economic times, the residents of North Carolina are too familiar with the struggles to make ends meet on a daily basis. They understand the need to wisely invest their money. With large open spaces, they could invest in property, but the real estate market is suspect at best after the housing bubble burst. Stocks and bonds do not draw the attention of a laid back tobacco farmer, as there is a large disconnect between Wall Street and the rural folk. The answer might be too invested in gold.

Bullion Sales Tax in North Carolina

Gold was discovered in the early 1800s in North Carolina hills and streams, and for a good portion of the early decades of that century, North Carolina was the only state producing gold. With this historical tradition, purchasing gold might be a wise choice for the residents of North Carolina. However, as with other states, there may be a sales and use tax imposed on the purchase of precious metals. Under North Carolina law, www.dornc.com, there is a state wide sales tax of 4.75%, with additional local taxes making it as high as 7.5%. There s no exemptions or waiver for the purchase of gold or any other precious metal regardless of size, shape , amount, or purpose of the transaction. This means all transactions of gold and silver will be taxed depending on the local rate.

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