This Great Plains state is characterized by picturesque prairies and small mountains. Oklahoma has more Native American residents than any other state; more than 25 Native American languages are spoken here. The two largest cities, Oklahoma City and Tulsa, are home to more than two thirds of Oklahomans.
Historically, the state served as an important cattle drive route and a destination for settlers from the eastern states after the territory was opened to homesteaders in 1889. Today, Oklahoma is a major natural gas, oil, and wheat producer.
Bullion Sales Tax in Oklahoma
Within Oklahoma, sales tax is collected on most sales of coins, paper currency, and precious metals. There is one exemption: bullion stored at a recognized precious metal depository. Under Oklahoma tax law 710:65-13-95 (http://www.tax.ok.gov/rules/Rules2012/Chapter%2065%20Sales%20and%20Use%20Tax%20_2_.pdf), which was introduced in 2011, the exemption applies to gold, silver, platinum, palladium, or other bullion stored at a depository. The bullion must have a value dependent on its precious metal content, not its form.
Meanwhile, Oklahoma state law specifically identifies other coins and numismatic items as taxable. Under 710:65-19-50 (http://www.tax.ok.gov/rules/Rules2012/Chapter%2065%20Sales%20and%20Use%20Tax%20_2_.pdf), “Coins, commemorative or otherwise, purchased at rates not reflecting actual currency value” are subject to the sales tax.
Oklahoma has some of the highest sales and use taxes in the country. The state sales tax rate is 4.5%. There are also city and county taxes in many areas; in some areas, the combined sales tax rate is as high as 11%. For this reason, many Oklahoma investors make an effort to purchase qualified bullion and store it at a depository so that it is exempt from the tax.
JM Bullion, being an out of state retailer, does NOT have to charge sales tax to Oklahoma 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 OK
If you are looking for coin shops in specific cities located in the state of Oklahoma be sure to check out our other local directory pages:
- Local coin shops in Oklahoma City, OK
- Local coin shops in Tulsa, OK
- Local coin shops in Norman, OK
- Local coin shops in Broken Arrow, OK
- Local coin shops in Lawton, OK
Below is a list of local precious metals dealers in Oklahoma, including directions to each local shop.
Flying Eagle Coin
Flying Eagle Coin, founded in 2006, is among the newest Oklahoma coin shops, but has already gained a reputation for high-quality coins and professional service. Flying Eagle is an NGC and PCGS authorized dealer, and specializes in rare and collectible coins.
Their inventory includes U.S. and foreign coins and currency, mint and proof sets, commemorative coins, gold and silver bullion, tokens and medals, and collecting supplies. They also offer gift certificates. Many of their items can be purchased online. Note that the current Oklahoma City sales tax rate is 8.375%.
9118 South Walker Avenue
Oklahoma City, OK 73139
Oklahoma Silver Dollars
While Oklahoma Silver Dollars does specialize in U.S. silver dollars, they also offer a complete array of U.S. and foreign coinage. Oklahoma Silver Dollars is particularly well-regarded for their selection of Morgan silver dollars, MS63 or higher-grade rare coins, and PCGS graded gold coins.
This dealer is well-known at regional coin shows, and offers want list fulfillment services and PCGS grading. They specialize in helping purchasers select rare coins for investment purposes. As an Oklahoma City coin dealer, Oklahoma Silver Dollars charges 8.375% sales tax.
11201 N May, Suite A
Oklahoma City, OK 73120
Tulsa Gold & Silver
Tulsa Gold & Silver specializes in precious metals. They buy and sell all forms of gold and silver, including coins, bullion, jewelry, and scrap. Tulsa Gold & Silver has the city’s largest numismatic showroom, and also carries coin collecting supplies.
They carry gold, silver, and platinum coins and bars such as the American Eagle, South African Krugerrand, Canadian Maple Leaf, 90% US silver coinage, platinum rounds, and silver in 1, 10, 100, and 1000 ounce bars. Within Tulsa, precious metal and coin purchases are subject to a total sales tax of 8.517%.
6357 East 41st Street
Tulsa, OK 74135
Tulsa Coin and Stamp
For nearly half a century, Tulsa Coin and Stamp has served Oklahoma coin collectors by buying and selling all types of coins and stamps. They offer appraisal services and specialize in rare or historic U.S. and foreign coins, rather than bullion. Tulsa coin sales are subject to a local sales tax rate of 8.52%.
2606 S. Sheridan Road
Tulsa, OK 74129
Founded in 1996, Carter Numismatics specializes in rare and historic coins, enabling collectors to hold history in their hands. A small selection of their featured coins can be found on eBay. Carter Numismatics is also an active participants in coin shows and auctions throughout the year.
Their goal is to provide high-grade, investment-quality rare coins. They also buy single coins and collections from individuals. The local sales tax rate is 8.52% at Carter Numismatics.
1218 E 33rd St.
Tulsa, OK 74105
Thank you for reading our guide to gold and silver buying in Oklahoma. If you know of any other coin or bullion shops in OK, please contact us so we can update our directory.