The New England state of Massachusetts has played a significant role in American history. The present-day state of Massachusetts was the location of the Plymouth colony founded by the Pilgrims in 1620, the Salem Witch Trials, and several notable events of the Revolutionary War, and is also home to Harvard University, the oldest college in the United States.
It is the seventh smallest state, yet one of the most densely populated. More than half of the state’s population lives in the Boston area. Many of the state’s best-known coin dealers are also located in Boston.
Bullion Sales Tax in Massachusetts
Within Massachusetts, state law allows a sales tax exemption for certain sales over $1000. (http://www.mass.gov/bb/fy97h1/PART4.HTM). This exemption includes “Rare coins of numismatic value; gold or silver bullion or coins; and gold or silver tender of any nation except the Republic of South Africa or Namibia which is traded and sold according to its value as precious metal.” There are several notable numismatic items which do not fall under this exemption, including paper currency, the South African Krugerrand bullion coin, and platinum or palladium bullion, so be sure you understand the tax law if you’re buying coins and bullion in Massachusetts.
Purchases totaling less than $1,000 do not qualify for this exemption. They are taxed at the state sales tax rate of 6.25%, plus any applicable city or county taxes. Because of the way this exemption is structured, many Massachusetts investors wait until they are able to purchase at least $1,000 in coins or bullion in a single transaction before visiting a local coin dealer.
JM Bullion, being an out of state retailer, does NOT have to charge sales tax to Massachusetts 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 MA
If you are looking for coin shops in specific cities located in the state of Massachusetts be sure to check out our other local directory pages:
- Local coin shops in Boston, MA
- Local coin shops in Springfield, MA
- Local coin shops in Cambridge, MA
- Local coin shops in Lowell, MA
Below is a list of local precious metals dealers in Massachusetts, including directions to each local shop.
Colonial Trading Company
Located in Boston’s Colonial District, this coin dealer specializes in colonial and early U.S. coinage, as well as tokens and paper currency of the same era. Their experienced staff is skilled at authenticating and appraising such coins.
Colonial also buys and sells foreign coins, bullion in gold, silver, and platinum, ancient Greek and Roman coins, vintage jewelry, and postage stamps.
102 Tremont Street
Boston, MA 02108
Initially founded as a sports card shop, Kenmore Collectibles now offers a full-service coin shop. They sell a wide array of US and foreign coins and paper money, rare coins, and proof sets, along with silver and gold bullion. Kenmore Collectibles also buys and sells jewelry and scrap gold and silver, along with other collectibles.
Their online store offers an array of coins and collectibles; the full inventory can only be found in their showroom. They advertise Silver American Eagles for sale as low as $3.50 over spot.
466 Commonwealth Ave #103
Boston, MA 02215
Lincoln Stamp and Coin
One of the oldest coin dealers in the region, Lincoln Stamp and Coin was founded in 1924. They maintain an expensive inventory of bullion, coins, and stamps, and are known for offering a wide selection of rare and high-grade coins, along with gold and silver bullion coins and US mint and proof sets.
Whether you are completing a series of state quarters, or are hunting for rare foreign coins, Lincoln Stamp and Coin has what you’re looking for. They offer appraisals, and also offer jewelry, postcards, sports cards, and other collectibles. Lincoln Stamp and Coin also has an in-store silent auction board featuring more than 200 lots of coins, with auctions ending and beginning every two weeks.
372 Chandler Street, Suite LL1
Worcester, MA 01602
Coin and Card Exchange
A top Springfield coin dealer, Coin and Card Exchange is a small and locally-owned shop offering a wide selection of coins and bullion for sale. Their current buy and sell prices are available over the phone.
Coin and Card Exchange buys and sells with individual investors, as well as dealers. Potential customers can visit their storefront to view current inventory and negotiate pricing.
524 Allen Street
Springfield, MA 01118
Founded in 1975, Beantown Coins is among the Boston area’s top coin dealers. They are active on Facebook and Twitter, often offering online coupons and deals, and many of their coins can be found on eBay and through their website. The inventory includes US and foreign coins, high-grade rare coins, and gold and silver bullion. Beantown specializes in rare and historical U.S. coinage, such as Barber half dollars, Morgan silver dollars, and buffalo nickels. They also buy coins, bullion, and gold jewelry.
PO Box 890067
East Weymouth, MA 02189
Thank you for reading our guide to gold and silver buying in Massachusetts. If you know of any other coin or bullion shops in MA, please contact us so we can update our directory.