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Buying Gold & Silver in Vermont

Vermont is one of the smallest states in the country. In addition, when it became a state in 1791, it became the first territory to become a state outside of the 13 original colonies. Its size lends itself to being one of the least populous states in the entire country. It is located off of the eastern coast, the only state in New England with no portion of the state abutting the Atlantic Ocean. It does have beach front as the western border is covered at least halfway by Lake Champlain. In addition to this lake, and many others, Vermont is home to the Green Mountains which offer a wide range of trails and courses for skiing snowmobiling and other winter sports.

Prior to becoming a state, the territory was dominated by Native American tribes Iroquois and Aloenaki. During the French and Indian War, the French, who had colonized the territory, turned in over to Great Britain after being defeated. As a nearby colony, New Hampshire and New York alternatively claimed ownership of the territory. The residents who derived their claim to the land from these two British Colonies were opposed by a militia called the Green Mountain Boys. These armed inhabitants eventually separated and formed an independent Vermont Republic, which existed as an entity during the Revolutionary War, before becoming a part of the Union. As indicated, winter sports are very prominent in Vermont. Tourism is a leading generator of revenue in the state. People visit from all over the country to ski in the mountains and stay in the resorts. In addition, during the fall and spring, the foliage is one of the most beautiful in the country. In addition to tourism, the production of maple syrup is a staple of the local economy. The state is the leading producer of the product in the entire country.

Relying on tourism as a main source of revenue, with its normal fluctuations, makes the residents of the state aware that they need to make plans for their economic future. They must find the appropriate investment to secure their financial future, making stable investments producing good returns. With the lack of a population, there is plenty of available land, which can be a good investment. However, the collapse of the housing market reveals the uncertain process of valuation of property which makes any investment in real estate a risky proposition. They could give their money to the brokers on Wall Street, but maple syrup producers live off the natural resources of the land and are suspicious of any financial institution. The solution to their problems could be gold ands silver.

Bullion Sales Tax in Vermont

If you make a purchase of gold or silver, you need to be aware that here may be a sales tax imposed on your transaction. Under Vermont law, www.state.vt.us/tax, there is a state wide sales tax of 6%, with the possibility of an additional 1% local sales tax being added. There is no exemption for any purchase of coins, nuggets, or bullion of gold silver or any precious metal. If any precious metal is exchanged for anything above its face value, it is taxable.

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