Buying Gold & Silver in Ohio

There is some debate as to the origin of the nickname, but there is no doubt that the residents of the state of Ohio are considered Buckeyes. There is an Ohio Buckeye Tree which once dominated the landscape throughout the state, making people believe that the nickname as derived from the state tree. Others believe it goes back to politics. When William Harrison ran for President against President Martin Van Buren, his opponents labeled him as a man more worthy to sit in a log cabin and drink whiskey. His supporters used this as a theme and named him the log cabin president, using a symbol of a log cabin built with buckeye wood. Being from Ohio, this soon created the buckeye state.

The state is also closely connected to the growth of professional sports in the United States. In Canton Ohio, the National Football League Hall of Fame is located, and a game is played every August in the city between two professional football teams. In addition, the first professional baseball team was fumed in Cincinnati in the late 1800s, and has been in operation ever since. It started out as the Red Stockings, and over time has been shortened to Cincinnati Reds. In addition to professional sports, Ohio State University has made a major impact on collegiate sports as a member of the Big Ten Athletic Conference in the National Collegiate Athletic Association.

The state also plays a major role in politics. Currently, the Speaker of the House of Representatives is a Congressman elected from Ohio. Every four years, the state of Ohio is a measuring stick for candidates who are running for President, as the election in recent years has come down to the crucial electoral votes n Ohio. This means that he residents of the state pay close attention to the machinations of Washington D.C. and are fully cognizant of its failed policies and programs. They know that they have to pay careful attention to how they invest their money, as no one in the capitol is watching out for their best interests. They could invest in real estate, but the housing market collapse devastated Ohio like other states, and it makes investing in property a risky proposition. They could send their money to Wall Street, but there is a level of cynicism and skepticism when it comes to or financial institutions, making people wary of trusting bankers and brokers with their hard earned money. The answer may lie in gold and silver.

Bullion Sales Tax in Ohio

Over the past few decades, gold and silver have risen dramatically in value, many times outperforming the stock markets. This makes precious metals ideal for investment or at the very least an investigation as to the viability of an investment. However, be aware of all costs associated with the investment. In Ohio for all transactions you must pay sales and use tax. Under the law,, there is a state wide sales tax of 5.75%, and with additional local taxes can be as high as 8%. Currently, there is no exemption for any purchase of precious metals, no matter the amount, shape, or size of the transaction.

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