Looking to buy or sell silver near you? Finding trusted local dealers is essential to ensure a fair and reliable transaction. Whether you’re a seasoned investor or simply looking to cash in on your silver holdings, it’s important to know where to turn.
Ohio, home to major metropolitan hubs Columbus, Cleveland, and Cincinnati, has recently taken steps to eliminate sales tax on sales of investment metal bullion and coins composed primarily of gold, silver, platinum, or palladium. This new legislation, effective from October 1, 2021, creates a favorable environment for silver transactions in the state.
When searching for local dealers, it’s crucial to consider their reputation and expertise in the industry. Reputable dealers will offer competitive prices and provide valuable guidance throughout the process.
To assist you in your silver-buying or selling journey, we’ve compiled a comprehensive guide to help you navigate the market with confidence. Explore our recommendations for trusted local dealers in Ohio, innovative online silver buyers, and key information on Ohio’s capital gains laws and state sales tax laws.
Whether you choose to visit physical coin shops or opt for the convenience of online buyers, it’s important to stay informed and compare prices to ensure you get the best value for your silver. Let’s dive into the details and discover the best options for buying and selling silver near you.
Ohio State Sales Tax Laws
Ohio has recently implemented significant changes to its sales tax laws pertaining to investment metal bullion and investment coins primarily composed of gold, silver, platinum, or palladium. Under the new legislation, which will be effective from October 1, 2021, the sales tax on these particular items will be eliminated.
The successful passage of this law can be attributed to the combined efforts of several key players, including the Sound Money Defense League, Money Metals Exchange, and in-state dealers. Their advocacy and dedication were instrumental in bringing about this positive change in Ohio’s sales tax regulations.
This amendment is expected to have a direct impact on the precious metals market within the state, providing greater accessibility and affordability for investors and collectors alike. Bullion and coins comprising precious metals will now be more accessible to Ohio residents without the burden of additional sales tax.
These revised sales tax laws align Ohio with other states that have recognized the importance of fostering a favorable environment for investment in precious metals. By eliminating sales tax on investment metal bullion and investment coins, Ohio aims to attract more precious metal buyers and bolster its position as a pro-precious metals jurisdiction.
As Ohio prepares to implement these new sales tax laws, investors and collectors can look forward to a more lucrative and supportive marketplace for precious metals, promoting increased economic growth and financial independence.
Ohio Government Pension Funds
Ohio’s government pension funds have not yet taken advantage of the benefits of holding assets in physical gold and silver. This missed opportunity means that the funds are not fully diversified and protected against inflation. However, other states like Texas have recognized the value of including physical gold and silver in their pension funds, acknowledging their role as reliable inflation hedges and sources of stability in uncertain economic times.
By including gold and silver in pension funds, states can mitigate the risks associated with traditional investments and provide a more robust financial foundation. These precious metals have a long-standing history of preserving wealth and can act as a hedge against currency devaluation and economic downturns.
By diversifying their assets and including physical gold and silver in their portfolios, pension funds can enhance their ability to weather market volatility and protect the retirement funds of public employees and workers. It is essential for Ohio’s government pension funds to consider the inclusion of gold and silver to maximize long-term returns and provide stability for future retirees.
Coin Shops In Ohio
Looking to buy or sell silver and other precious metals in Ohio? Look no further than the reputable coin shops located throughout the state. Whether you’re a collector, investor, or simply want to add to your coin collection, these trusted establishments offer a wide range of options to meet your needs.
Grove City Coin & Currency
Grove City Coin & Currency is a well-established coin shop in Ohio known for its extensive selection of coins and bullion. With knowledgeable staff and a commitment to customer service, they provide a trustworthy environment for buying and selling silver. You can find them at 3941 Broadway, Grove City, OH 43123.
American Coin & Collectibles
American Coin & Collectibles is another reputable coin shop in Ohio with a focus on rare numismatic collectibles. Whether you’re a seasoned collector or just starting, their experienced team can assist you in finding the perfect additions to your collection. Visit them at 440 E 5th Ave, Columbus, OH 43201.
