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Buying Gold and Silver in Michigan
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The Midwestern Michigan is the only US state that is located on two peninsulas. Its name is the French form of the word “mishigamaa” meaning “large lake” or “large water” due to which Michigan is also called the “Great Lakes State”. The state’s territory was first settled by the Native American Tribes before the 17th century and was later colonized by French explorers. In 1837, Michigan was formed as the 26th state of the country. Today, it is the 10th most populous state in the United States, with Lansing as its capital, although its largest city is Detroit.
Michigan has a long and impressive history of automobile (General Motors, Ford, and Chrysler), aircraft and military equipment manufacturing. The state was also one of the top mining centers of the country due to its extensive and rich iron deposits. Since there is a sales tax exemption on bullion and numismatic coins, investing in silver and gold is highly popular within the state, so Michigan hosts some of the most notable numismatic auctions and precious metal dealers.
Gold and Silver Dealers in Michigan State, by City:
If you are looking for coin shops or precious metal dealers located in Michigan, please browse the following city directory pages:
- Ann Arbor Coin and Gold Dealers
- Detroit Coin and Gold Dealers
- Flint Coin and Gold Dealers
- Grand Rapids Coin and Gold Dealers
- Lansing Coin and Gold Dealers
Local coin shows & conventions
One of the most popular hobbies in the world, coin collecting, is highly popular in the United States. If you are thinking about visiting Michigan, make sure to attend at least a coin show or coin convention which is listed below. Take a look at the impressive numismatic collections showcased by Michigan dealers and the ones from other neighboring states. These prestigious numismatic events also offer you free appraisals and various educational programs.
Most popular coin shows:
The Schoolcraft Coin Show is an annual traditional numismatic event which takes place in Southwest Michigan. It is held in September, usually from 9AM to 3:30PM, has a free admission and over 30 dealers presenting their outstanding exhibition of rare and high-quality coins, as well as medals and other precious numismatic items. Also, you have the chance to get your coins evaluated, either they are foreign or US, as well as receive qualified answers on any questions about coin collecting.
The Redford Township Coin Show is a popular Michigan coin show that is held at the end of each month. Open from 9AM to 3PM, the show forgathers well-known dealers from the Tri-State Area - Ohio, Indiana, and Michigan, which present their collection on over 60 tables. This numismatic event has a free admission and offers expert guidance and advice in bullion investment, high-quality coin collecting or any other valuable info about precious metal selections. Also, at this show, you can get your coin appraised, or you may buy and sell your collectibles and receive the best possible available value.
This renowned Michigan coin show is held annually in January and showcases impressive coin collections of over 44 dealer tables. The show is open from 10AM to 4PM.
The Muskegon show is a very popular semi-annual coin, stamp, and sports card event which takes place in the middle of March and at the end of October. If you’re visiting Michigan in spring or autumn, make sure to stop by at this highly regarded show.
This is another famous semi-annual coin show held in Michigan, usually on the first Saturday of April and November. About 48 coin dealer tables showcase their remarkable collections from 9AM to 3PM.
A popular semi-annual coin show, taking place at the beginning of May and October. It is open from 9AM to 3PM, has free admission and free parking and also offers hourly door prizes.
This annual coin show is held during three days (Thursday, noon-6PM, Friday, 10AM-6PM, Saturday 10AM-4PM) and demonstrates over 140 dealer tables coming from the Michigan state and around it. The event offers free parking and is located only a few minutes away from the Detroit Metro Airport (DTW).
This well-known coin show takes place twice a year, from Friday to Sunday, in April and November. This popular numismatic convention is open from 10AM to 6PM (except Sundays until 3PM) and forgathers the most prestigious coin and numismatic dealers from the area.
This popular coin show has a free admission and forgathers over 15 dealer tables presenting their collections during two days at the beginning of January.
Breaking Down Bullion Sales Tax in Michigan
The official state sales tax rate in Michigan is 6%. However, there is no bullion tax on precious metal collectibles and ingots because bullion and numismatic items are exempted from the local sales tax. The Section 205.54s of the state’s General Sales Tax Act of 1933 defines that the sale of bullion and investment coins is exempt from the tax. The law defines bullion as a bulk state item made from silver, gold or platinum, having at least .900 fineness and its value is established based on its content rather that its form. Meanwhile, investment coins are defined as numismatic items made from silver, gold, platinum, palladium or other precious metal which are US or foreign nation legal tender and have a market value higher than their face value. But keep in mind that the above sales tax on precious metals will not apply on items such as paper currency, medals, and tokens because they do not qualify for the tax exempt as based on the above definitions.
Since Bullion Exchanges is not a precious metal retailer based in Michigan, the state’s residents are not eligible to pay any bullion sales tax if they want to purchase precious metal items on our website. Therefore, feel free to browse our wide selection of silver and gold, as well as platinum, palladium and rhodium goods. However, please keep in mind that we are not experts on tax laws and you should check with your local tax professionals before making any purchases.
Online Coin Dealers
Buying numismatic items from online bullion dealers is one of the easiest ways to invest in precious metals. You can find several online precious metal dealers based in Michigan that are displayed below. However, keep in mind that you can easily browse and choose your precious bullion piece from our large collection displayed on our website.
- Mid-South Coin Co – Serving coin collectors and investors since 1979
- Chelsea Rare Coins – one of the largest buyer and seller of bullion located near Ann Arbor
- Liberty Coin Service – well-known coin dealer founded in 1971
- Abbotts Coinex Corp – one of the most highly respected precious metal and rare coin dealers in US and Canada
- Monroe Coin Exchange – among the most popular and bullion dealers in the area.
- Napier Gold – famous gold and silver bullion dealer in Michigan
- St. Charles Coin Shop – A top buyer and seller of gold and silver in Saint Charles, Michigan
- Jade Rare Coin – renowned shop offering a large inventory of numismatic materials.
Smelters & Refineries / Mints
There are numerous precious metal refining companies and facilities located in Michigan. Therefore, if you are looking for gold refining or silver smelting, get in touch with any of the local businesses listed below. Yet, keep in mind that Bullion Exchanges also offers you outstanding gold and silver refining services, so contact us for any details.
Midwest Precious Metals LLC 4471 Forest Ave, Waterford, MI 48328 800-356-2955Northern Refineries, LLC 29509 Sierra Point Circle Farmington Hills, MI 48331 800-882-7729BMX Metals 21700 Greenfield Rd #351, Oak Park, MI 48237 248-268-3549Precious F&B Metals Inc 31800 Northwestern Highway #35, Farmington Hills, MI 48334 248-539-3344Precious Metals Refiners 26125 West 7 Mile Road, Redford, MI 48240 313-387-7720G&S Metals and Refiners, Inc. 1432 Stadium, Ann Arbor, MI 48103 800-752-3860Metal Refinery 20529 Milburn Street, Livonia, MI 48152 888-777-2797Precious Alpha Metals Co 2228 regent street, Kalamazoo, MI 49004 269-348-4581C & M Precious Metals 946 Capital Avenue Ne, Battle Creek, MI 49017 269-963-4653Goldfingers Precious Metals 17420 Livernois Avenue, Detroit, MI 48221 313-646-9425Ottawa Kent Precious Metals 3413 Stoneyridge Drive, Hudsonville, MI 49426 616-662-6977Precious Carrington Metals LLC 4616 North Grand River Avenue #8, Lansing, MI 48906 517-323-9154