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Admitted to the Union in 1890, Idaho is a mountainous state and extremely rich in natural resources, such as metals, gemstones, and, of course, potatoes. Gold, silver, and other precious metals have been mined in Idaho for over 150 years. Silver mining in Idaho is still big and Idaho leads the nation in output from silver mines. Indeed, over 40% of the newly-mined silver in the United States comes from silver mines in Idaho.
With its close ties to gold and silver mining, it is no surprise that there a number of gold and silver dealers in Idaho. Idaho is also home to the Sunshine Mint, which manufactures bullion products as well as gold and silver blanks for use by the United States Mint.
Are There Taxes on Buying Gold and Silver Bullion in Idaho?
Sales taxes are not applied when buying gold and silver in Idaho, or for any other types of bullion. Code 63-3622V states that the sale of precious metal bullion or monetized bullion is exempt from taxation. This law states that precious metal bullion sales in Idaho, including, gold, silver, platinum, palladium, rhodium, and other metals, are exempt from taxation if the value of the product is entirely derived from the worth of the metal itself.
Monetized bullion refers to coins that are manufactured from precious metal and are legal tender in the United States or a foreign country. These types of coins are also exempt from sales taxes in Idaho, even if the coins possess some numismatic value which raises their overall worth above the worth of the precious metal alone. Please note that paper currencies and base metal historic coins are still subject to the Idaho state sales tax rate of 6%, as are other goods and services.
CBMint is not based in the state of Idaho, so residents of Idaho also do not have to pay sales taxes when buying bullion online from CBMint. Feel free to Browse our Selection of tax-free bullion products. Law 63-3622V can be read in detail 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.
List of Idaho Cities with Gold and Silver Dealers
- Idaho Falls
- Coeur d’Alene
Featured Gold and Silver Dealers in Idaho (ID)
Below is a listing of featured coin and bullion dealers in the state of Idaho. If you there are any Idaho coin and bullion stores you feel should be added to this list, please Contact CBMint and let us know.
Gem State Gold and Silver
Gem States are experts in precious metals assay, and one of the best places in Idaho to buy and sell gold and silver. They possess excellent equipment for accurately assaying gold, silver, platinum, and palladium bullion and scrap metal, often resulting in higher prices paid to the seller. Their website lists the pricing schedule for all precious metal transactions. Gem State is a family-owned business.
10384 Fairview Avenue
Boise, ID 83704
Rose Hill Coins and Jewelry
Rose Hill Coins and Jewelry is based in Boise and is one of the best gold and silver dealers in Idaho. A family-owned business, Rose Hill buys and sells gold, silver, platinum, and paladium bullion products. They buy bullion products from the public, so their selection is very wide and often changes. Rose Hill sells mining equipment and metal detectors alongside their coin and bullion products which includes gold and silver coins and bars, American Eagles, Canadian Maple Leafs, rare and historic coins, commemorative coins, and other collectibles.
3506 Rose Hill Street
Boise, ID 83705
Canyon County Coin
For over forty years, Canyon County Coin has been one of the top coin dealers in Idaho, serving the needs of customers who buy and sell rare coins. Their bullion selection is also wide, and they buy coins, as well as gold and silver bullion from the public, resulting in a wide and varied selection. Coins are their specialty, and they are one of the few coin shops in Idaho that also specializes in ancient coins. They also carry an array of proof coins, commemorative coins, paper money, and bullion products.
1200 1st Street South
Nampa, ID 83651
Infinity Coins is a coin shop in Idaho Falls, Idaho, and is a great stop for investors looking to buy gold and silver bullion in Idaho Falls. They have a wide selection of silver and gold bullion products, such as American Silver Eagles, and they also have an expansive collectible coin selection, including graded coins, proof coins, and paper money. Infinity Coins actively engages new and beginning coin collectors, with a program that encourages children to earn store credit by getting good grades at school.
545 Shoup Avenue #108A
Idaho Falls, ID 83402
Sunshine Minting, Inc.
Sunshine Minting is one of the largest private refiners of precious metals in the world. The refinery is located in the heart of the silver mining district of Idaho, and Sunshine Minting manufactures a large range of silver rounds, silver bars, and coin blanks for use by other mints. The famous Sunshine Mint 1 ounce silver rounds are joined by 5 and 10 ounce silver rounds, as well as silver bars in 1 ounce, 5 ounce, 10 ounce, 50 ounce, and even 100 troy ounce sizes.
Sunshine is one of the few private mints to produce gold rounds — currently Sunshine manufactures gold rounds in 1/10 oz, 1/4 oz, 1/2 oz, and 1 troy ounce sizes. Popular Sunshine Mint fractional gold bars come in 1 gram, 5 gram, and 10 gram sizes, as well as the common 1 ounce and 10 ounce gold bars. Investors can buy gold and silver bullion from Sunshine Mint directly, or can buy Sunshine Mint products in any number of coin and bullion shops.
7600 Mineral Drive Suite 700
Coeur d’Alene, ID 83815