The Southeastern state of Tennessee played an essential role in the development of rock and roll, blues, and country music. Both Nashville and Memphis, the state’s largest cities, are considered to be musical capitals.
Elvis Presley’s Graceland is located in Memphis, while Nashville is home to the Grand Ole Opry and the Country Music Hall of Fame. Agriculture is also a major industry within Tennessee.
Bullion Sales Tax in Tennessee
Within Tennessee, sales tax is collected on collectible coins, paper currency, and precious metals. The state sales tax rate is currently 7%; there are also local taxes in many areas (http://www.tn.gov/revenue/tntaxes/salesanduse.shtml). These taxes are fairly high, but despite this, there are still a number of Tennessee coin dealers serving local collectors.
The state of Tennessee recently issued Opinion No. 12-110, to clarify the taxation rules regarding precious metals (http://www.tn.gov/attorneygeneral/op/2012/op12-110.pdf). Under the law, coins traded for their collectible value or for their intrinsic precious metal value are subject to sales tax.
JM Bullion, being an out of state retailer, does NOT have to charge sales tax to Tennessee 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 TN
If you are looking for coin shops in specific cities located in the state of Tennessee be sure to check out our other local directory pages:
- Local coin shops in Memphis, TN
- Local coin shops in Nashville, TN
- Local coin shops in Chattanooga, TN
- Local coin shops in Knoxville, TN
- Local coin shops in Clarksville, TN
Below is a list of local precious metals dealers in Tennessee, including directions to each local shop.
Mid-South Coin Co Inc
Founded in 1979, Mid South Coin has been in the same Memphis location for more than three decades. They believe that customers should be informed about the items they are purchasing, whether collectible coins or bullion.
Mid-South Coin Co specializes in historic U.S. coins, and also carries a wide array of U.S. and foreign coins, mint and proof sets, rare graded coins, and gold and silver bullion. They also carry paper currency, tokens, and other numismatic collectibles. Most of their coins are PCGS, NGC, or ANACS certified, and many of them can be purchased online.
3894 Park Ave.
Memphis, TN 38111
The Coin Purse
The Coin Purse, founded in 1968, caters to novice and experienced coin collectors alike. As the oldest and biggest Nashville coin dealer, they buy and sell U.S. and foreign coins, proof and mint sets, paper currency, and gold and silver bullion.
The selection includes Gold American Eagles, Morgan and Peace silver dollars, state quarters, and many other coins. Many of their coins are PCGS, NGC, or ANACS certified. The Coin Purse offers appraisals buys precious metals including gold and silver bullion, coins, jewelry, and other items.
4117 Hillsboro Pike
Nashville, TN 37215
Nashville Coin Gallery
Nashville Coin Gallery specializes in gold and silver coins such as 40% and 90% silver US coinage, Silver Eagles, Morgan and Peace silver dollars, Gold Maple Leafs, and privately minted gold bars. Nashville Coin Gallery also buys coins, paper currency, historical memorabilia, scrap gold, and other collectibles.
Many of their products can be purchased directly from their website. They also offer automatic price alerts and an automated buying system. Customers paying via bank wire receive a 2% discount; those buying more than 50 ounces of the same product receive a price break.
330 Mayfield Drive Suite A-14
Franklin, TN 37067
Nashville Coin and Currency
Nashville Coin and Currency specializes in rare coins, offering a wide selection of U.S. and foreign, graded and raw coins. For more than three decades, they have bought and sold nearly every type of collectible coin, paper currency, and precious metal bullion imaginable.
They carry a wide range of American Eagles, Krugerrands, Chinese Pandas, and Canadian Maple Leafs, as well as privately minted gold and silver bars. Nashville Coin and Currency offers appraisals, and is a PCGS and NGC authorized dealer.
7003 Chadwick Drive, Suite 154
Brentwood, TN 37027
Smyrna Coin Shop
Smyrna Coin Shop offers a mix of precious metal bullion and rare coins, with a particularly large selection of silver art bars and rounds intended for gift-giving purposes. They offer a wide range of NGC graded and certified U.S. coins, American Silver Eagles, gold and silver coins, pre-1964 U.S. silver, modern commemorative quarters, mint and proof sets, silver rounds, and more. Many of their items can be purchased online.
296 S. Lowry St.
Smyrna, TN 37167
Kit’s Coins has 40 years of experience buying, selling, and appraising rare coins. They specialize in rare coins for investors and collectors. They buy and sell U.S. and foreign coins, paper currency, diamonds, and scrap gold and silver. They offer consignment services, as well as PCGS and NGC grading services. Their coin selection includes early and 20th century U.S. coins, with a particularly wide array of Morgan and Peace silver dollars. Note that the shop is open by appointment only.
7600 Oak Ridge Hwy,
Knoxville, TN 37931
Thank you for reading our guide to gold and silver buying in Tennessee. If you know of any other coin or bullion shops in TN, please contact us so we can update our directory.