While Idaho is perhaps best known for its potato crop, it has been nicknamed the “gem state” because nearly every type of gemstone has been found here. Idaho’s rich natural resources also include a variety of metals such as lead, copper, cobalt, chromium, platinum, tungsten, zinc, and silver.
Both gold and silver were mined here as early as the 1860s. Idaho is currently the country’s largest producer of newly mined silver, and is the source of almost 45% of all the silver presently mined in the United States.
Today, the mountainous state of Idaho is a popular place for gold and silver investment, and also houses the Sunshine Mint, which produces the blanks for the United States Mint’s American Gold and Silver Eagle bullion coins.
Bullion Sales Tax in Idaho
Idaho does not charge sales tax on precious metal purchases. According to Idaho code 63-3622V (http://dfm.idaho.gov/Publications/EAB/GFRB/GFRB00/fy00tax.pdf), “The sale of precious metal bullion or the sale of monetized bullion” is exempted from taxation. Under this law, precious metal bullion (including, but not limited to, gold, silver, platinum, rhodium, and chromium) with a value dependent on the metal it contains, rather than its form, is exempt from the tax. So is “monetized bullion,” which are coins made from precious metals and considered legal tender in Idaho, the United States, or any foreign nation. Such coins are exempt from the tax even if their market value exceeds the value of the precious metal they contain.
This broad exemption has made Idaho one of the most popular states to invest in gold and silver bullion. However, there are several notable exceptions. This precious metal exemption does not extend to paper currency, which is taxed at the Idaho sales tax rate of 6%, plus any applicable city or county sales taxes. It also does not extend to rare or historical coins which are not made of precious metals.
JM Bullion, being an out of state retailer, does NOT have to charge sales tax to Idaho 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 ID
If you are looking for coin shops in specific cities located in the state of Idaho be sure to check out our other local directory pages:
Below is a list of local precious metals dealers in Idaho, including directions to each local shop.
Canyon County Coin
Canyon County Coin has four decades of experience buying and selling coins, proof and mint sets, gold and silver bullion, paper currency, tokens, and scrap gold and silver. They specialize in rare, foreign, and ancient coins, as well as modern collectible coins.
Because most of their inventory comes from individual collectors, the selection available in-store is constantly changing. Investors may want to call beforehand to see what is currently available in inventory before driving out to Canyon County Coin.
1200 1st Street South
Nampa, ID 83651
Rose Hill Coins & Jewelry
Rose Hill, located in Boise, is one of Idaho’s largest gold and silver dealers. This family-owned shop has been open for more than four decades. They purchase coin collections, bullion, jewelry, scrap gold, and gold nuggets, and their website offers a current list of the items they are most interested in purchasing.
Rose Hill deals in all forms of gold and silver bullion, including American Eagle, Canadian Maple Leafs, silver rounds and bars, junk silver, and foreign gold and silver coins, as well as precious metal scrap.
Their coin selection includes rare, graded, and commemorative coins, as well as tokens and other numismatic collectibles at every price point. Rose Hill also offers metal detectors and prospecting equipment for those who want to try their hand at mining their own precious metals.
3506 Rose Hill St.
Boise, ID 83705
Infinity Coins, an Idaho Falls coin dealer, buys, sells, and trades a wide variety of coins, bullion, and numismatic collectibles. Their selection includes silver and gold coins, bullion, and scrap, along with foreign coins, paper currency, and graded coins.
A small selection of their inventory can be seen online; visit their showroom for a complete selection. They encourage beginning collectors; through their Coins for Grades programs, students can earn store credit by bringing in their report card.
545 Shoup Ave #108A
Idaho Falls, ID 83402
CH Coins offers a wide selection of US and foreign coins and currency, along with gold and silver coins, and stamps, memorabilia, and collecting supplies. They specialize in Idaho tokens and other numismatic collectibles.
CH Coins owner Hollis Pincock is the author of “Idaho Tokens for Collectors”. They buy and sell coins in person and through the mail, and offer coins for sale on their website, on eBay, and in their showroom. In addition to their Carey, Idaho storefront, they have another part-time location in Burley, Idaho.
20422 South Main Street
Carey, ID 83320
Gem State Gold and Silver
Gem State is a gold and silver seller, buyer, and assayer. They have precise equipment to accurately analyze gold, silver, platinum, and palladium scrap, resulting in higher prices paid for dental gold, jewelry, and other precious metal scrap.
Their pricing is fairly complicated, but clearly laid out on their website. Gem State’s buy/sell spreads are based on the weight of metal involved, and are published on their website. On many items, they promise to match the Apmex price+1% for sell prices, and -3% for buy prices.
10384 Fairview Ave
Boise, ID 83704
Local Gold and Silver Mints in Idaho
Also browse the gold and silver mints local to Idaho. Some of these mints offer retail products, while others are wholesale only.
One of the largest private mints in the world, Sunshine Minting, Inc. is renowned for its silver bullion products. Located near Couer d’Alene’s rich silver mines, Sunshine produces silver rounds, bars, and coin blanks. Their popular one-ounce silver rounds carry an American Eagle design with the sun’s rays in the background.
SMI also produces 5 and 10 ounce silver rounds, and silver bars in 1, 5, 10, 50, and 100 ounce sizes. In gold, they produce rounds in 0.1, 0.25, 0.5, and 1 ounce sizes, and bars in 1, 5, and 10 grams, as well as 1 or 10 ounce sizes. Sunshine Mint silver bullion can be purchased directly from the mint or from many gold and silver dealers around the world.
7600 Mineral Dr. Suite 700
Coeur d’Alene, ID 83815
Thank you for reading our guide to gold and silver buying in Idaho. If you know of any other coin or bullion shops in ID, please contact us so we can update our directory.