The Midwestern state of Michigan, also known as the Great Lakes State, is the only U.S. state to consist of two peninsulas. It has the longest freshwater coastline of any state in the world, and residents here are never more than six miles from a lake.
The capital city is Lansing, and Detroit is the largest city; many of the state’s most notable coin shops are located in or near one of these cities.
Bullion Sales Tax in Michigan
Under Michigan state law, there is no sales tax for gold, silver, or platinum bullion, or for certain numismatic collectibles. According to the General Sales Tax Act 205.54s Sale of investment coins and bullion (http://www.legislature.mi.gov/%28S%28spjpxc55nounidbtukd2co55%29%29/mileg.aspx?page=getObject&objectName=mcl-205-54s), sales of investment coins and bullion are exempt from sales tax.
Under the law, “bullion” refers to gold, silver, or platinum, at least 0.900 pure, with a value dependent on the precious metal content rather than its form. Meanwhile, “investment coins” refers to “numismatic coins or other forms of money and legal tender manufactured of gold, silver, platinum, palladium, or other metal and issued by the United States government or a foreign government with a fair market value greater than the face value of the coins.”
There are several notable categories of numismatic collectibles which do not qualify for the above exemption. First, non-legal tender items such as tokens and medallions, as well as paper currency, and coins issued by a state government rather than a country, may not qualify for the exemption. For items that do not qualify for the exemption, the Michigan state sales tax rate is currently 6%.
JM Bullion, being an out of state retailer, does NOT have to charge sales tax to Michigan 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 MI
If you are looking for coin shops in specific cities located in the state of Michigan be sure to check out our other local directory pages:
- Local coin shops in Ann Arbor, MI
- Local coin shops in Detroit, MI
- Local coin shops in Flint, MI
- Local coin shops in Grand Rapids, MI
- Local coin shops in Sterling Heights, MI
- Local coin shops in Warren, MI
- Local coin shops in Lansing, MI
Below is a list of local precious metals dealers in Michigan, including directions to each local shop.
Redford Jewelry and Coin
Founded in 1984, Redford Jewelry and Coin – also known as Silver Superior Coins – specialize in U.S. coinage. They offer a complete array of US coins including mint and proof sets, dollars, quarters, dimes, nickels, and cents.
Redford Jewelry and coin also sells Silver American Eagles and other gold and silver bullion coins, in addition to world coins. A select assortment of their coins can be purchased online; the rest is available for browsing in their Plymouth, Michigan coin shop. The prices are updated throughout the day to reflect the changing market rates for gold and silver. Redford Jewelry & Coin also buys coins and currency in person or through the mail.
25950 West Six Mile Road
Redford, MI 48240
Birmingham Coin and Jewelry
Founded more than three decades ago, Birmingham Coin recently merged with another coin shop, enabling them to expand their selection and move to a new, larger location. Birmingham Coin and Jewelry buys and sells all U.S. coins and precious metal bullion, and also offers a selection of foreign coins, paper currency, stamps, and jewelry.
They are known for their selection of gold and silver bullion coins like the American Silver Eagle, as well as investment-grade rare coins. They offer appraisals, and actively purchase pre-1964 US coins and gold and silver scrap and bullion. A selection of their coins and jewelry is available for sale on eBay.
33802 North Woodward Avenue
Birmingham, MI 48009
Liberty Coin Service
Founded in 1971, Lansing’s Liberty Coin Service is a full-service coin shop. The shop recently moved to a new, larger location, enabling them to expand their selection. Liberty Coin buys and sells U.S. and world coins, paper currency, tokens and medals, autographs, jewelry, and bullion in gold, silver, platinum, and palladium.
Their current buy and sell prices for many items are posted on their website. They serve more than 100,000 customers every year. Liberty is an NGC, PCGS, and ANACS authorized dealer, and regularly serves as an appraiser or consultant for banks, law firms, and police departments.
400 Frandor Avenue
Lansing, MI 48912
Jade Rare Coin
Jade Rare Coin is a premier Grand Rapids coin dealer specializing in certified and historic U.S. coins. Jade Rare Coin also carries modern commemorative coins and gold and silver bullion.
They buy U.S. coins and currency, bullion (gold, silver, platinum, and palladium) and mint and proof sets. Buying prices for sterling silver, 90% silver coins, and gold scrap are posted on their website and are updated daily. Note that the showroom is open by appointment only.
200 Ottawa Avenue NW
Grand Rapids, MI 49503
Westland Jewelry & Exchange
Westland Jewelry specializes in precious metals, buying and selling a wide variety of jewelry, bullion, and coins. Because they actively buy from individuals, the inventory is constantly changing.
They deal in US and foreign coins, mint and proof sets, coin collections, and gold and silver bullion. Westland Jewelry & Exchange also offers trade and pawn services.
28962 Warren Rd.
Westland, MI 48185
Thank you for reading our guide to gold and silver buying in Michigan. If you know of any other coin or bullion shops in MI, please contact us so we can update our directory.