- Are Gold and Silver Recognized as Legal Tender? - No.
- Sales Tax Laws on Gold and Silver - Senate Bill 156, signed into law on March 6, 2018, exempts gold, silver, and platinum from sales tax.
- Are Capital Gains Taxes Levied on Gold and Silver? - Yes.
- Do the State’s Laws Allow for a State Bullion Depository? - No.
- Does the State Hold Gold and Silver Reserves? - No.
- Does the State Hold Physical Gold and/or Silver in Government Pension Funds? - No.
Local Gold and Silver Dealers in AL
A.R. Akin Rare Coins & Currency
3536 Vann Rd
Birmingham, AL 35235
With more than three decades of numismatic experience, Birmingham’s A.R. Akin offers a knowledgeable and helpful staff ready to assist beginning and experienced investors alike. This dealer has strong connections with dealers across the nation, aiding them in offering fair pricing and a wide selection. Their inventory is well-stocked in an effort to aid serious collectors.
With many years of experience, A.R. Akin prides itself on upholding the highest standards of customer service. They are best known for their offerings of U.S. coins, bullion coins, and precious metal bars. They offer private consultations, and sales are conducted on an appointment basis, as their coins are kept stored in a vault. Do note that sales taxes in Birmingham are relatively high, at 10%.
Mobile Bay Coins
2204 Government St
Mobile, AL 36606
One of the largest gold dealers in Mobile, Alabama, they purchase and sell a wide range of gold, from relatively common bars and coins to unusual forms such as dental gold. Mobile Bay Coins is known for offering reasonable prices.
They host a local radio show that attracts an audience of precious metal collectors and investors. Because Mobile does not charge a city sales tax, you’ll be paying the state sales tax rate of 4%, making Mobile coin shops some of the best places in Alabama to invest in gold and silver.
Alabama Coin & Silver Co.
912 Bob Wallace Avenue Southwest
Huntsville AL 35801
Since 1975, Alabama Coin & Silver Co, owned by numismatic expert Charle Cataldo, has offered a wide selection of United States Eagles and international coins, paper currency, and other numismatic collectibles. Whether you are a new investor or seeking out one elusive coin to add to your collection, shop here for professional service and knowledgeable assistance. Huntsville does not charge any additional sales taxes for precious metals or coins, so you’ll only be paying the state rate of 4%.
3972 Government Boulevard
Mobile, AL 36693
A Mobile institution, Loop Coins has served Alabama coin collectors since 1963. With five decades of experience, Loop Coins is renowned for top-notch customer service, a high level of integrity and honesty, and a wide selection of coins and precious metals.
Their employees go the extra mile, whether you are a first-time buyer or seasoned collector. Note that Mobile does not charge any additional sales taxes for precious metal purchases.