Bullion investment is a unique purchase, especially when you consider the state laws and tax regulations involved. Whether you are buying or selling bullion, it pays to research and understand what you can expect in your state. Here are the laws associated with bullion buying/selling in the state of Florida.
Florida law states that bullion can be exempt from sales tax so long as the total purchase price for the bullion piece/pieces exceeds $500. Additionally, any coins or currency that are considered legal U.S. tender are exempt from sales tax. This includes coins made from precious metals such as the gold and silver American Eagle coins.
Florida, like all other U.S. states, requires a Federal Capital Gains Tax on sold bullion. The maximum rate for this tax is 28% although your specific rate will be adjusted based on your income.
A truly diversified portfolio includes precious metals, so when you're planning for retirement, consider adding qualified bullion to your Self Directed IRA. Contact us to get started or visit our Precious Metals IRA page to learn how you can invest.
We attend a number of coin shows throughout the country each year. Here's where and when you'll find us at an expo near you.
We actively maintain a list of coin clubs within the state of Florida. Check out the list to find a club near you. If you are part of a club that is not on our list, let us know.
Looking for somewhere nearby where you can purchase coins or other precious metal items? Check out our coin shop directory to find a place to buy coins near you.
Florida is much more than beaches and citrus farms. Check out our 20 facts list to learn more about the beautiful Sunshine State.