Until after World War 2, Alabama’s economy revolved primarily around agriculture. Since that time, many other industries have sprang up in the state, including financial institutions, military facilities, mineral extraction companies, aerospace companies, and automobile manufacturers.
Alabama’s past includes some gold mining, though those operations have nearly ceased. The state has a large population, and, like many states in the US south, residents here heavily invest in silver and gold bullion. To meet the demand, there are several top gold and silver dealers in Alabama.
Are There Taxes on Buying Gold and Silver Bullion in Alabama?There are currently no sales tax exemptions when you buy silver and gold in Alabama. Purchases of coins, other precious metals, tokens, paper currency, and other numismatic collectibles are also fully taxed at the state sales tax rate of 4%. Additionally, if you buy gold and silver in a different state and bring it into Alabama, that bullion is subject to a use tax, which is equal to the equivalent state sales tax rate. Local and county sales and use taxes can bring the overall total even higher — up to 12% in some cases. Obviously such high taxes limit an investor’s purchasing power, so many precious metals investors choose to buy silver and gold online, where taxes do not apply.
CBMint is not based in Alabama, so residents of Alabama do not have to pay any sales taxes when buying bullion online from CBMint. Please feel free to Browse our Selection of tax-free bullion products. More about the applicable laws regarding investing in silver and gold in Alabama can be read here:
Please note, we are not tax professionals or experts. Individuals are sometimes liable to pay local Use taxes. Contact your state and local tax authorities for all laws concerning taxes when buying bullion locally in Alabama.
Featured Gold and Silver Dealers in Alabama (AL)Listed below is a small sample of featured bullion and coin dealers in Alabama. If you would like to suggest any additional Alabama coin or bullion stores to add to this list, feel free to Contact CBMint and let us know.
Alabama Coin and Silver CompanySince the 1970’s, Alabama Coin has been buying and selling rare and historic US and foreign coins, and is one of the best coin dealers in Alabama. Their selection includes both high-end coins for serious investors, and a wide selection of coins for beginning coin collectors. The owner is a certified numismatist, and offers appraisals and coin grading services.
Alabama Coin and Silver also has a great range of bullion products, intended for buyers who are looking to invest in silver and gold bullion. Common precious metals products carried by Alabama Coin include American Eagles, silver bars, Canadian Maple Leafs, Gold Krugerrands, 90% junk silver coins, jewelry, and gold bars. They buy gold, silver, and platinum bullion from the Alabama public, so their selection frequently changes. Be sure to visit their Huntsville, AL location to see the current product offerings.
912 Bob Wallace Avenue SWHuntsville AL 35801(256) 536-0262
Mobile Bay CoinsMobile Bay Coins has a large showroom, specializing in gold bullion, and they are among the best gold and silver dealers in Alabama. With a wide range of bullion products, including American Gold Eagles, both small and large gold bars, Gold Krugerrands, silver bars, and pre-1933 US gold coins, Mobile Bay Coins has products for investors of any budget. They also carry a wide selection of rare and historic US coins, such as Morgan silver dollars, Peace dollars, and silver half-dollars.
Mobile Bay sells and buys scrap gold and silver, including dental gold and junk silver. They post current gold and silver spot prices in their store, and are renowned for having low prices on silver and gold bullion. Because there are no additional city sales or use taxes that apply when buying bullion in Mobile, AL, Mobile Bay Coins has become one of the best places in Alabama to buy gold and silver bullion.
2204 Government StreetMobile, AL 36606(251) 725-1590
Loop CoinsA fixture in Mobile, AL for over 50 years, Loop Coins is a locally-owned shop and stands among the best coin dealers in Alabama. They feature a wide selection of coins for beginners, as well as high-end investors. Loop Coins is known for charging very small premiums on precious metals, coins and collectibles. Their US coin selection, in particular, features a great range of Morgan silver dollars, 90% silver coins, cents, nickels, dimes, and silver half-dollars and quarters. Their precious metal bullion offerings include such staples as the American Eagle, Canadian Maple Leaf, Austrian Silver Philharhomic, along with silver and gold bullion bars. Please note that unlike some areas in the state, Mobile has no additional sales or use taxes, making the city one of the best places in Alabama to buy gold and silver bullion.
3972 Government BoulevardMobile, AL 36693(251) 661-2800
Southern Bullion Coin and JewelrySouthern Bullion is probably the largest gold and silver dealer in Alabama, with ten locations throughout the state. They buy and sell precious metal bullion, scrap, and jewelry, along with a large range of historic and rare coins and collectibles. The product selection at Southern Bullion is vast, featuring American Eagles, Canadian Maple Leafs, platinum coins, palladium bullion, and silver bars of all sizes. Current silver, gold, and platinum spot prices are also posted in their stores.
Alabama buyers looking to invest in silver and gold bullion will find many options at Southern Bullion, although their gold and silver price premiums are sometimes quite high. Be sure to pay attention to which location you shop at — when you buy gold and silver in Alabama, local taxes at various locations can increase the overall sales tax rate significantly.
2801 John Hawkins Parkway #117EHoover, AL 35244(205) 637-7033
