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Buying Gold & Silver in Texas

Texas is a large state along the southern border for our nation. It has a long and rich history. It is the largest state by area in the lower 48 states, and second only to Alaska in all of the United States. It is also the second highest n population in the country behind only California. Man of its cities rank in the top ten largest populated cities in America, the highest being Houston which is ranked fourth largest in all of the country. Its history is tied into its struggles with Mexico as much as it is with becoming a state in the Union. It was originally an independent republic which was annexed by Mexico. It fought for Independence from Mexico, leading to its nickname the Lone Star state. It contains a diverse landscape pulling from influences of southwest America as well as the Deep South of the country. It is linked with the open dry plains of the Southwest deserts, but in actuality, less than 10% of the state can be considered desert. The remainder of the state consists of coastal areas, forests, grasslands and prairies. If you travel through the state you will see craggy hills, large open plains, coastal swampy marshlands, and deserts and mountains in the west.

Throughout is troubled history, Texas has been subject to Spanish rule, Mexican rule, French rule, and eventually Independence and annexation by the United States. This final move led to a tumultuous battle in the Mexican American War. It connections to the south and slavery led to its declaring alliance with the Confederacy during the American Civil War. After the Civil War, the cattle industry took off in Texas. This long history and relationship with cattle drives and cattle ranches, has linked Texas with the image of an American cowboy. In addition to cattle, the other huge economic boom for Texas was the discovery of oil reserves in the land. Over the last few years Texas has attempted to diversify its economy and increase its gross state product.

With this expansion of its economy, the residents of the state need to be cognizant of wisely and prudently investing their hard earned money. They need to secure their financial future by investing in stable areas. They could choose to invest in real estate, the large open plains, the oil fields, and rich commercial buildings. However, the recent housing crisis has led to suspicions in the land valuation process making any investment in real state a risky proposition. You could invest money with the brokers on Wall Street, but an American Cowboy corralling his cattle believes in the land not the shaky financial institutions of this country. The way to go is n gold and silver. Be wary when making purchases as there may be a tax on the transaction.

Bullion Sales Tax in Texas

Under Texas tax laws and regulations, www.window.state.tx.us/taxes, there is a state wide sales and use tax of 6.25%, with the possibility of additional local municipality taxes making it as high as 8.25%. There is an exemption for the purchase of coins, bullion, nuggets made of gold, silver or other precious metals, as long as the single transaction is more than $1,000 dollars.

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