Connecticut was one of the earliest-settled of the 13 original colonies. The first major settlements here were founded by English colonists in the 1630s. Connecticut, known as the Constitution State, was among the most influential states in the development of the U.S. federal government.
Today, Connecticut has the highest per capita income and medium household income in the United States, and is widely considered to be the wealthiest state.
Bullion Sales Tax in Connecticut
Connecticut’s sales tax policies are dependent on both the type and amount of coins and precious metals being purchased. Under Connecticut Gen. Stat. § 12-412(45) (http://www.cga.ct.gov/2011/pub/chap219.htm#Sec12-412.htm), there is a sales tax exemption for “Gold or silver bullion, legal tender of any nation, rare and antique coins. Sales of and the storage or use of rare or antique coins, gold or silver bullion and gold or silver legal tender of any nation, traded according to its value as precious metal, provided such exemption shall not be applicable with respect to any such sale, storage or use in which the total value of such bullion or legal tender sold by the retailer is less than one thousand dollars.”
According to this law, legal tender from any state or nation, as well as gold or silver bullion priced according to the value of the precious metal it contains, is not subject to sales or use taxes, so long as the transaction amount totals $1,000 or more. Because of this minimum purchase amount to qualify for the exemption, Connecticut bullion investors frequently wait until they are ready to make a large purchase before visiting a local coin dealer. Note that this exemption does not apply to other precious metal bullion, such as platinum or palladium; the law, as written, only covers gold or silver bullion.
Conn. Gen. Stat. § 12-412(45) also creates a sales tax exemption for rare or antique coins, whose value is dependent on rarity, condition, and demand rather than solely on the price of the precious metal they contain. This rare or antique coin exemption applies to coins used as legal tender by any government, in any time period. There is a $1,000 minimum purchase to qualify for this exemption, as with bullion. Note that this exemption does not cover medals, tokens, or medallions which were not created for legal tender purposes.
If your purchase does not fall under these exemptions, Connecticut state sales tax of 6% will apply. Some cities and counties throughout the state have their own sales taxes in addition to this amount.
JM Bullion, being an out of state retailer, does NOT have to charge sales tax to Connecticut 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 CT
If you are looking for coin shops in specific cities located in the state of Connecticut be sure to check out our other local directory pages:
- Local coin shops in Bridgeport, CT
- Local coin shops in New Haven, CT
- Local coin shops in Hartford, CT
- Local coin shops in Waterbury, CT
Below is a list of local precious metals dealers in Connecticut, including directions to each local shop.
Olde Towne Coin Co, Inc.
For more than four decades, Olde Towne has assisted Connecticut coin collectors with the purchase and sale of rare coins and gold, silver, and platinum bullion. The company president, Harold Kritzman, is a noted numismatic expert with over 40 years of experience in the field.
Olde Towne is a PCGS, NGC, and ANACS coin dealer offering grading and evaluation services. They buy and sell rare US coins, American Eagles and other government minted bullion coins, paper currency, scrap gold, and jewelry. They also carry coin collecting supplies such as coin holders and books.
2600 Berline Turnpike
Newington, CT 06111
Brookfield Coin and Card LLC
Established in 1986, Brookfield Coin was founded by Phil Jones, a coin collector who initially sold through flea markets and coin conventions as a traveling store. Brookfield truly welcomes collectors with any level of experience, from newcomers to experts.
They buy and sell all forms of paper currency and coinage, as well as gold and silver bullion, and offer appraisals. They stock US Mint products, including American Silver Eagles and proof sets. Brookfield focuses more on rare and collectible coins than on precious metal bullion. In addition to their retail showroom, coins from Brookfield can also be found on eBay. Coin club meetings and auctions are held once per month in their store.
499 Federal Rd.
Brookfield, CT 06804
Good Ole Tom’s
Among Connecticut’s best-known coin shops, Good Ole Tom’s has been in operation for more than 50 years. They carry a wide selection of rare and antique coins, US coins and US Mint proofs, jewelry, antiques, and bullion. Many coin collectors frequent Tom’s, “Where Rarity Is Common,” in search of unusual rarities.
Also known as Tom’s Coin World, this shop takes pride in their reputation, offering a 3-day return policy and wish list fulfillment services. Their online shop and eBay storefront offer a small portion of their inventory; the full selection is only available in their retail store. Tom’s also offers to purchase scrap gold and silver through the mail.
1100 Main St.
East Hartford, CT 06108
Sam Sloat Coins
One of the largest and oldest coin dealers in New England, Sam Sloat Coins was founded in 1961. They carry U.S., foreign, and ancient coins, paper currency, pure bullion in gold, silver, and platinum form, medals and tokens, vintage rare sports cards, political and advertising pinbacks, jewelry, and sterling silver.
Among their specialties are colonial and early U.S. coins. They maintain an eBay presence and online storefront in addition to a 1,200 square foot showroom. Sam Sloat will also purchase coins from individual investors in person or through the mail.
606 Post Road East
Westport, CT 06880
Vernon Coin Center
Vernon Coin Center, an NGC certified dealer, specializes in foreign coins, as well as Morgan and Peace silver dollars. They also deal in gold and silver bullion coins. Vernon Coin Center offers wholesale and bulk pricing, as well as appraisals. Their website offers an expansive inventory of coins, bullion, and coin collecting supplies for sale online.
630 Talcottville Rd #3
Vernon, CT 06066
Local Gold and Silver Mints in Connecticut
Also browse the gold and silver mints local to Connecticut. Some of these mints offer retail products, while others are wholesale only.
World Treasures Mint
World Treasures Mint, a small private mint located in Milford, Connecticut, produces silver bars and rounds in both solid silver and silver-clad (or silver-plated) varieties. World Treasures is known for creating a wide array of eye-catching art bar styles, with new designs being released very frequently.
2 Broad St. Suite 7
Milford, CT 06460
Thank you for reading our guide to gold and silver buying in Connecticut. If you know of any other coin or bullion shops in CT, please contact us so we can update our directory.