Alabama, or the “Heart of Dixie,” is one of the best places in the country to invest in previous metals, with gold being particularly popular here. Gold mining operations have been carried on throughout Alabama since the 1840s.
Today, many Alabama investors seek out gold and silver as a stable investment. There are a number of highly regarded Alabama precious metal dealers, especially in Birmingham, Mobile, and Huntsville.
Bullion Sales Tax in Alabama
According to Alabama state law (http://revenue.alabama.gov/salestax/Rules/810-6-2-.27.pdf), sales of precious metal coins, bullion, nuggets, flake, or other forms of gold and silver are subject to sales tax. Bills, currency, and collector’s coins are also subject to this tax. Sales of gold and silver for investment purposes are fully taxable. There are no exemptions for certain products or dollar amounts. The only exemptions are available for resellers, as well as instances where the gold is to be used as a component in another product.
The state sales tax rate is currently 4%; there may also be additional county or city sales taxes owed. For example, the city of Birmingham adds an additional 6% tax, making the total tax there 10% for precious metal purchases. Depending on the location where the gold is purchased, sales tax in Alabama can be as high as 12%. Also note that gold or silver purchased outside of Alabama and subsequently brought into the state is legally subject to a use tax, at the same tax rate as sales tax, at the time it is brought into Alabama.
JM Bullion, being an out of state retailer, does NOT have to charge sales tax to Alabama residents. Browse our selection of tax-free gold and silver products. Please note that we are not tax experts, and individuals may be liable to pay local Use tax.
Local Gold and Silver Dealers in AL
If you are looking for coin shops in specific cities located in the state of Alabama be sure to check out our other local directory pages:
- Local coin shops in Birmingham, AL
- Local coin shops in Mobile, AL
- Local coin shops in Montgomery, AL
- Local coin shops in Huntsville, AL
Below is a list of local precious metals dealers in Alabama, including directions to each local shop.
Southern Bullion Coin & Jewelry
Southern Bullion is among the best-known Alabama precious metal dealers, with more than ten locations throughout Alabama. They are among the largest in the state, offering a wide selection of bullion, coins, and precious metal jewelry.
However, despite their reputation and size, customers report that they do not always offer the lowest prices; markups here tend to be fairly high over the spot price of the metal.
Despite this, if you are seeking out a trusted dealer with a longstanding reputation, check out Southern Bullion. In addition to selling a wide selection of previous metals, Southern Bullion is also a refinery, and purchases gold and silver directly from individuals.
2801 John Hawkins Pkwy Suite 117E
Hoover, AL 35244
A.R. Akin Rare Coins & Currency
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%.
P.O. Box 1022
Trussville, AL 35173
Mobile Bay Coins
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.
2204 Government St
Mobile, AL 36606
Alabama Coin & Silver Co.
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%.
912 Bob Wallace Avenue Southwest
Huntsville AL 35801
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.
3972 Government Boulevard
Mobile, AL 36693
Thank you for reading our guide to gold and silver buying in Alabama. If you know of any other coin or bullion shops in AL, please contact us so we can update our directory.