
Local Coin Shop Tips: What to Know Before Your First Visit
Quick answer Walk in knowing today’s spot price, expect a buy/sell spread, and treat your first visit as a research trip Localβ¦
Read guide βΊPhysical gold and silver sit inside a real legal framework: sales tax that differs by state, capital gains rules that treat metals as collectibles, reporting requirements that apply to some transactions and not others, and state laws that govern pawn shops and gold buyers. Most of the myths in this market, about anonymous buying, about confiscation, about what dealers report, dissolve as soon as you read the actual rules.
These guides cover what happens at tax time when you sell, which purchases and sales generate paperwork, how inherited metals are valued, and the state by state rules that shape where and how you buy. They cite the primary sources so you can verify every claim. For the practical side of a sale, pair them with the selling playbook, and note that nothing here is individual tax advice: for your own situation, a qualified professional has the final word.

Quick answer Walk in knowing today’s spot price, expect a buy/sell spread, and treat your first visit as a research trip Localβ¦
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Quick answer The $50 face value is a legal formality, not a spending suggestion Congress assigned the American Gold Eagle a $50β¦
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Quick answer Melting pennies and nickels is a federal crime. Pre-1965 silver coins and gold coins are legal to melt. A 2006β¦
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β Quick answer Dealers file Form 1099-B only on specific bullion types above set quantity thresholds; American Eagles are exempt regardless ofβ¦
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Quick Answer Most first-time gold buyer losses come from premium traps, not price swings The gold market itself is transparent and liquid.β¦
Read guide βΊQuick Answer Your cost basis equals every dollar paid to acquire the metal: purchase price, dealer premium, shipping, and sales tax paidβ¦
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Quick answer Coin shows reward the prepared buyer and the patient seller. A coin show puts dozens of dealers under one roof,β¦
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β Quick answer Buying gold with cash is legal at any dollar amount. The dealer files the paperwork, not you. Federal lawβ¦
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Quick answer Gold, silver and platinum bullion are sales-tax-exempt in Texas; jewelry and palladium are not. Texas Tax Code Section 151.336 exemptsβ¦
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Quick answer California exempts a single-transaction bulk sale of coins and gold or silver bullion of $2,000 or more from sales tax;β¦
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Quick answer Inherited gold and silver receive a stepped-up cost basis equal to their fair market value on the decedent’s date ofβ¦
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Physical gold and silver held over a year are taxed as collectibles under IRC 1(h)(4) at a rate capped at 28%. Short-termβ¦
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Quick answer Physical gold is taxed as a collectible, not like a stock Under IRC Β§ 1(h)(4), long-term gains from selling physicalβ¦
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β Quick Answer Sales tax on gold and silver is a buyer-side tax, and 44 states currently exempt most bullion purchases Whetherβ¦
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Executive Order 6102, signed by President Franklin D. Roosevelt on April 5, 1933, required delivery of gold coin, bullion, and gold certificatesβ¦
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Quick answer Giving gold below the annual exclusion costs nothing on your tax return. Going above it usually just files a form,β¦
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Quick answer A legitimate estate appraiser charges a flat or hourly fee, never a percentage of the collection’s value, and should neverβ¦
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β Quick Answer If a Gold IRA dealer files for bankruptcy mid-purchase, who controls your funds? Your retirement funds sit at anβ¦
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Quick answer: As of 2026, the IRS approves roughly 60+ specific coin products for self-directed precious metals IRAs under IRC §408(m)(3). Theβ¦
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Regal Assets was one of the most recognized names in the gold IRA industry, with an A+ Better Business Bureau rating andβ¦
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When you open a self-directed gold IRA, not every gold coin or bar qualifies. The IRS specifies minimum purity standards and approvedβ¦
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