Buying Gold and Silver in Idaho
Idaho State became part of the Union in 1890, and currently, it is the 14th largest and 39th most populous of all the States, with approximately 1.7 million people and 83,569 square miles. Boise is the largest city and the capital of the state.
Idaho state was originally populated by Native Americans, who still live in the mountainous areas. Actually, Idaho is famous for the natural landscapes, 38% - most of any other state - of its territory being administered by the United States Forest Service.
The state economy is sustained by industries such as manufacturing, agriculture, mining, forestry, and tourism. Idaho is also nicknamed the ”gem state”, due to the abundance of gemstones that have been found here. Silver is on top of the list, Idaho being the US largest producer of newly mined silver, with about 45% of the total Silver on the US market. Gold and Silver extractions have a long history in Idaho, beginning in the 1860s.
Nowadays, Idaho state is well known for the gold and silver investments and is home to Sunshine Mint, the mint producing blanks for the American Gold and Silver Eagle Bullion Coins.
Gold and Silver Dealers in Idaho, by City:
Please check directory page of our precious metals dealers to find local coin shop in your city.
Local coin shows
Land of Silver - Idaho offers plenty opportunities for coin collectors to get together at the coin shows and conventions in the state. If you are planning to visit the area, do not miss out on the below the list of most popular coin shows in Idaho.
With a long history, being currently at its 57th edition, the show is tentatively scheduled for February 18-19 this year. For all coin collectors, it is a show worth checking out.
Organized annually in Idaho Falls, the coin show promises to share unique coins and networking opportunities. Tentatively scheduled for April 1-2nd, make sure not to miss out.
At its 60th edition, Southern Idaho Coin Show gathers each year the most authentic coin collectors and novelty in numismatics. For 2017 it is tentatively scheduled for May 19-20.
Founded in 1957, Southeastern Idaho Coin Club has established a long tradition over the years and is famous for its Annual Coin shows. Although the date is not known yet, make sure to follow our page for updates. It is usually a two-day show, organized in Boise.
Breaking Down Bullion Sales Tax in Idaho
Idaho state is sales tax-free for precious metal purchases. As to Idaho code 63-3622V, “The sale of precious metal bullion or the sale of monetized bullion” is excluded from taxation. According to this law, precious metal bullion: gold, silver, platinum, chromium, rhodium, with the value correlated to the metal it contains, is considered tax free. The same applies to “monetized bullion” - coins made from precious metals and legally tendered in ID state, US or foreign market. This type of coins is not taxed even if their market value is higher than the value of the precious metal they are made off. However, this law does not apply to paper currency and rare or historical coins which are not made of precious metals. For these, the sales tax is 6%, plus any other city or country taxes. The law and its opportunities have transformed Idaho in a popular state for gold and silver bullion investments.
Bullion Exchanges being an out of state retailer does not have to charge any sales tax to the residents of Idaho. Please feel free to browse through our tax-free gold and silver products. However, since we are not a sales tax expert, it is advisable to check with a tax professional before making a purchase as there may be a local Use tax applicable.
Online coin dealers
If you wish to receive your gold by mail, order your bullion by post from the online coin dealers mentioned below or you may check out BullionExchanges coin webstore:
- Money Metals Exchange - locally owned and rapidly growing since 2010
- Meridian Coins - famous for gold and silver coin collection, it is in business since 1978
- Idaho Gold - family owned and operating since 2006
- Gem State Gold & Silver - small and friendly, family owned, it was established in 1990
- CH Coins - professional and with wide collection, it has been running since 2000
- Rosehill Coins - family owned and operating for more than 40 years now
Local precious metals companies:
Founded in 1979 Sunshine Mint is one of the largest private mints in the world. The company thrived over the years and has been voted 5 years in a row as one of America's Fastest-Growing private companies by Inc. Magazine. Located near Couer d’Alene’s, ID rich silver mines, it is a full-service minting facility, with a very wide variety of products, services, and clients. The blanks for the popular American Eagle Coin are produced here. Except in Idaho, nowadays the company has manufacturing locations in Las Vegas - Nevada, Shanghai - China, and sales offices in Canada, Austria, and Argentina.
Bullion DepositoriesIdaho Armored Vault, LLC/Gold Silver Vault, LLC 2245 North Samantha Court, Nampa, Idaho 83687, 208-468-3600
Gold Silver Vault was established by Bob Coleman, in Nampa, Idaho and it is considered recently opened a facility for storage and transportation of gold, silver, gems and other valuables. To its clients, it offers individual safekeeping accounts either in the facility in Idaho or at a sub-custodial facility closer to the customer. Annual storage fees for gold and silver begin with 0.5% of the stored value and go up, depending on the quantity and market value.
Smelters & Refineries
Smelters extract various metal from its ore to create more refined metal products. Precious metals specifically silver and gold smelting and can be performed at any precious metals refinery including BullionExchanges.Liberty Refiners P.O. Box 125, Hayden, ID 83835, (208) 550-8813
Liberty Refiners was founded in 2007 by Rick Hurt in merger with Aurum Labs. The company offers high services in the precious metal industry. Liberty Refiners provides 99.99% and 99.9% pure gold and silver in form of rough poured bars.