Buying Gold and Silver in Indiana
One of the eight US states forming the Great Lakes region, Indiana, is also the smallest one at the west of the Appalachian Mountains. Indiana was admitted as the 19th state in 1816. Before becoming one of the territories of the United States, it had been inhabited for thousands of years by various indigenous people and Native Americans. The state is also the 16th most populous in the US and still growing. Indianapolis is the state’s capital and its largest city, being followed by Fort Wayne, Evansville, and South Bend.
Today, Indiana is the home of a diverse economy which includes pharmaceutical and medical device industry, manufacturing, electronics, chemical products, transportation, food processing and agriculture. Silver and gold mining have never been important parts of the local state’s economy. Indiana’s state sales tax is relatively high, but recently, in June 2016, the Government exempted certain coins, bullion and legal tender from this tax. Therefore, the number of Indiana’s local numismatic auctions and precious metal dealers is expected to increase as they become more and more popular.
Gold and Silver Dealers in Indiana State, by City:
Searching for coin shops or precious metal dealers in Indiana? Just take a look at the following city directory pages:
- Indianapolis Coin and Gold Dealers
- Fort Wayne Coin and Gold Dealers
- Evansville Coin and Gold Dealers
- South Bend Coin and Gold Dealers
Local coin shows & conventions
One of the most popular hobbies in the world, coin collecting, is also highly popular in the United States. When visiting Indiana, make sure to attend at least a coin show or coin convention listed below. Take a look at the impressive numismatic selections showcased by renowned Indiana dealers and benefit from free appraisals and various educational programs.
Most popular coin shows:
This renowned Annual coin show takes place in January and hosts over 70 dealer tables, being sponsored by the Muncie Coin & Stamp Club. The event is usually open between 9 AM and 4 PM and has free admission and free parking. It’s one of the best numismatic auctions in Indiana, where you can buy, sell, or trade coins, currency, tokens, postcards, and stamps.
Every first Sunday of each month (except for holidays, when the show is rescheduled for the following Sunday), Decatur hosts one of the most popular coin shows in the state. Open from 8 AM to 3 PM (winter hours may differ), this event, held for over 40 years, forgathers coin dealers, as well as many other flea market merchants which showcase their various collections. The show is sponsored by Adams County Coin Club.
This well-known event is held in Indianapolis at the beginning of each month and hosts from 40 to 60 tables of currency and coins dealers showing their wide selection of Canadian, US, bullion, world coins and many other collectibles. The show is open from 9 AM to 3 PM, has a free admission and breakfast and lunch buffets.
This prestigious numismatic event is held each year, at the end of April and October and at the beginning of June and December, hosting over 20 dealer tables presenting their collections from 9 AM to 2:30 PM. You can buy, sell, and trade collectibles or benefit from special education programs provided by the show.
The Wabash Valley Coin and Currency Show is a semi-annual event with over 26 dealer tables showcasing foreign and US coins, gold and silver bullion, currency which can be traded, sold and bought. It offers hourly drawings for great prizes, free parking, free admission, being open from 9 AM to 3 PM.
This annual coin show forgathers about 60 dealer tables which offer their coins, tokens, medals, currency and collector supplies. Open from 9 AM to 3 PM, the admission is free, and the show also offers hourly door prizes and food and refreshments.
Breaking Down Bullion Sales Tax in Indiana
Indiana’s official state sales tax is 7%, and some cities are also allowed to impose their own local sales taxes. However, recently, the state’s governor signed a sales tax exemption for specific bullion items and coins which have been in effect in Indiana since June 2016. Therefore, any sale, lease or rental of storage for certain bullion, coins or legal tender are now exempted from the sales tax on precious metals.
The coins and bullion exempted from the bullion tax are the ones eligible to be included in IRAs (Individual Retirement Accounts) and IDAs (Individually-Directed Accounts), permitted under 26 U.S.C. 408(m). As of 2017, the exempted coins include American Eagles and Proof American Eagles, and coins issued under the laws of any US State. Exempted bullion refers to specifically approved bullion which now includes coins, bars, and rounds made from at least .995 gold, .999 silver, .9995 platinum and .9995 palladium fineness.
According to the recently adopted Indiana law, legal tender, which means any coin and currency issued by the United States, is now exempted from the sales tax. However, foreign coins are not considered legal tender and are subject to the current bullion tax. The lease or rental of the storage space used for the above exemptions are also not subject to sales tax. For more details, please consult the state’s information bulletin on sales tax.
Bullion Exchanges is not a precious metal retailer based in Indiana. Therefore, the state’s residents are not eligible to pay any bullion sales tax when purchasing precious metal products on our website. Feel free to browse our gold, silver, platinum, palladium and rhodium collection. But, remember that we are not experts on tax laws, and you must check with your local tax professionals before making any purchases.
Online Coin Dealers
One of the simplest ways to invest in precious metal bullion is to purchase numismatic items from online bullion dealers. There are several online precious metal dealers who are based in Indiana, and you can find them displayed below. Yet, remember that you can always browse our collection and choose your favorite piece from our website.
- SilverTowne, L.P. – Former small coin shop and mint, now a renowned dealer with a showroom in Winchester
- Fairfield Rare Coins – A well-known coin and jewelry family business
- Ameripawn – Coin shop and jewelry store founded in 1986
- Smith’s Coins – Offers a wide range of foreign and US coins and currency
- Solly’s Coins – Famous buyer, seller and coin appraiser in Fort Wayne
- Universal Gold & Silver – Renowned coin and silver dealer
- Old Towne Coins – Largest coin shop in the area with a huge inventory
- Great Lakes Bullion – Prestigious local coin dealer
- Solid Gold – Family owned business established in 2010
Local Precious Metal Companies/MintsSilverTowne Mint 120 E. Union City Pike Winchester, IN 47394, (877) 477-2646
Indiana is the home for the prominent SilverTowne Mint. The company was founded in 1949 and is regarded as one of the largest private mints in the US. It is specialized in producing .999 fine silver bullion bars of 1, 5 and 10 oz. with a simple, classic design but the feature that makes them highly sought-after is that the bars are hand-poured. The unique texture and design of the bars make them favored by many silver bullion buyers. SilverTowne Mint also produces custom commemorative medallions for police and fire departments, companies and individuals, as well as hand-painted rounds.
Smelters & Refineries
There are only a few precious metal refining facilities located in the Indiana state. So, if you are looking for silver melting or gold refining services, contact any of the local smelting services displayed below. Also, keep in mind that Bullion Exchanges has a silver refining facility and you can get in touch with us anytime for any details.Indiana Gold Refinery Indianapolis 5245 Elmwood Ave, Indianapolis, IN 46203 317-791-4653Indiana Gold Refinery Shelbyville 201 South Harrison St, Shelbyville, IN 46176 317-398-6835Indiana Gold Refinery Greenwood 1280 US Highway 31 N, Greenwood, IN 46142 317-497-8988Precious Swihart Metals LLC 1618 Sycamore Hills Parkway, Fort Wayne, IN 46814 260-616-0758