South Dakota, one of the least densely populated states, is divided by the Missouri River. The land East of the river has most of the state’s residents; its fertile soil has made it an agriculturally productive area. Western South Dakota has many ranches, and is dependent on tourism.
The Black Hills are in the southwestern portion of the state, and Mount Rushmore is located here. Gold was also discovered in the Black Hills in the late nineteenth century, triggering a gold rush. Today, Black Hills gold is popularly used for jewelry.
Bullion Sales Tax in South Dakota
Within South Dakota, many forms of coins and bullion are exempt from sales tax (http://state.sd.us/drr2/businesstax/publications/taxfacts/financial.pdf). As defined by the current tax law, Bullion is any bar, ingot, or commemorative medallion of gold, silver, platinum palladium or any combinations of these metals. Coins or currency are any legal tender made of gold, silver, or other metal or paper which is or has been used as legal tender.” This exemption does not include any tokens or other numismatic collectibles which are not legal tender.”
In recent years, there have been several efforts to repeal the tax exemption for collectible coins and bullion. However, such efforts have not succeeded, and these items remain tax-free under current South Dakota state law. Items that do not fall under this exemption are subject to a statewide sales tax of 4%. There may also be additional local taxes due; the maximum sales tax rate in South Dakota is currently 6%.
JM Bullion, being an out of state retailer, does NOT have to charge sales tax to South Dakota 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 SD
If you are looking for coin shops in specific cities located in the state of South Dakota be sure to check out our other local directory pages:
Below is a list of local precious metals dealers in South Dakota, including directions to each local shop.
Sioux Falls Coins & Collectables
For more than three decades, this Sioux Falls coin dealer has bought and sold nearly every coin imaginable. They also buy and sell paper currency, stamps, bullion, and collectibles. They offer appraisals, and are willing to buy single coins or collections, as well as paper currency, stamps, jewelry, gold and silver bullion, antiques, and precious metal scrap. Located inside Empire Mall, Sous Falls Coins & Collectables has served local coin collectors for more than three decades.
1300 W. Empire Mall
Sioux Falls, SD 57106
Dakota Coin & Precious Metals
Since 1986, this downtown Rapid City coin dealer has bought and sold precious metal bullion. They carry American Eagles, Gold Buffalos, South African Krugerrands, Canadian Maple Leafs, Chinese Pandas, Austrian Philharmonics, and more. Dakota Coin also carries gold and silver bars from top private mints. They also deal in U.S. and foreign coins, historical memorabilia, paper currency, and jewelry.
615 Saint Joseph Street
Rapid City, SD 57701
AMA Antiques and Coins
AMA Antiques buys and sells U.S. coins and currency, with a focus on gold and silver bullion coins, including the American Eagle. They also offer appraisal and pawn services.
AMA Antiques and Coins has been open for nearly two decades, and is known for fair pricing on precious metal bullion. They receive new coins and bullion weekly, so collectors are encouraged to stop by their showroom frequently.
114 E 1st Street
Tea, SD 57064
First Stop Gun and Coins
First Stop carries both firearms and collectible coins, making for an unusual range of products found in their showroom. This family-run dealer, founded in the 1970s, caters to new and experienced collectors alike. They specialize in high-grade and rare coins, and also carry a selection of silver and gold bullion. First Stop also buys gold, silver, and coins.
701 Main Street
Rapid City, SD 57701
Aberdeen Gold & Silver
Aberdeen Gold & Silver is a locally owned shop dealing in gold, silver, and platinum. They buy jewelry, coins, dental gold, scrap, and bullion. They also sell coins, bars, rounds, and jewelry. The focus here is on precious metals, rather than rarity or collectibility. Aberdeen Gold & Silver is known for an expansive array of precious metals, and the selection is constantly changing since their inventory comes from individuals.
12 6th Ave SW
Aberdeen, SD 57401
Local Gold and Silver Mints in South Dakota
Also browse the gold and silver mints local to South Dakota. Some of these mints offer retail products, while others are wholesale only.
Tri-State Mint, a respected private mint, was once located in South Dakota. They are best known for their “Double Bison” gold and silver rounds produced for the state of South Dakota in the late 1980s.
These bullion rounds were minted in .999 fine metal, and came in a range of sizes: gold rounds from 1/20 oz to 10 oz, and silver from 1/2 oz to 10 oz. The company eventually moved to Nevada and became known as Medallic Art Company.
Thank you for reading our guide to gold and silver buying in South Dakota. If you know of any other coin or bullion shops in SD, please contact us so we can update our directory.