The Midwestern state of Indiana is the smallest state west of the Appalachian mountains. Its capital and largest city is Indianapolis. Within Indiana, sales taxes are fairly high for gold and silver.
Despite this, there are a number of highly regarded coin shops throughout the state, and especially in Indianapolis.
Bullion Sales Tax in Indiana
The state of Indiana collects sales tax on all sales of coins, paper money, and precious metal bullion. The state sales tax rate is currently 7%; there may also be additional city or county taxes due. According to Indiana Sales Tax Information Bulletin #50 (http://www.in.gov/dor/reference/files/sib50.pdf), the sale of “gold, silver, or any other metal or alloy such as bullion, bars, ingots, or in any other shape, size, or condition” is subject to sales tax.
In addition, “The sale of coins or currency for more than face value is considered selling at retail and subject to the collection of Indiana sales tax.” The sale of collectible postage stamps is also taxable. Indiana also has a Use Tax, at the same 7% rate, which applies to bullion or coins purchased elsewhere, and then brought to Indiana for storage.
Because there is no sales tax exemption for bullion or coins, Indiana has one of the highest sales tax rates for such purchases in the country. Due to this, many Indiana residents shop online or go out of state when buying gold or silver. Despite this, however, there are many well-regarded coin shops within the state.
JM Bullion, being an out of state retailer, does NOT have to charge sales tax to Indiana 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 IN
If you are looking for coin shops in specific cities located in the state of Indiana be sure to check out our other local directory pages:
- Local coin dealers in Indianapolis, IN
- Local coin dealers in Fort Wayne, IN
- Local coin dealers in Evansville, IN
- Local coin shops in South Bend, IN
Below is a list of local precious metals dealers in Indiana, including directions to each local shop.
Lost Dutchman Rare Coins
The premier Indianapolis coin dealer, Lost Dutchman, was founded in 1985. This family business is an authorized PCGS and NGC dealer, and offers appraisals and investment consultations. They buy, sell, and consign coins, and offer numismatic photography services.
Lost Dutchman specializes in rare and historic US and foreign coins, and a selection of their rare coins is available on eBay. Their Facebook page offers frequent inventory and market news updates to keep prospective and current customers up to date on product offerings and spot price movements.
4983 North Franklin Road
Indianapolis, IN 46226
Mr. Wimp’s Coins
A Fort Wayne institution since 1962, Mr. Wimp’s is known for a tradition of personal service and fair deals. Mr. Wimp’s strives to offer a unique selection of rare and historic coins, jewelry, and gems.
Their selection tends to be smaller than that offered by other coin dealers, and does not include an expansive selection of precious metal bullion, but the coins they do offer have been hand-selected for beauty, rarity, and collectibility.
Some of their most unique items are sold through eBay and directly through their website.
926 West State Boulevard
Fort Wayne, IN 46808
TLC Coin is an Evansville coin dealer buying and selling US and foreign coins, along with gold and silver bullion, coins, and jewelry. They offer NGC and IGC grading services, and have the equipment to test the authenticity of your gold or silver.
TLC Coins is known for an eclectic selection of coins and other collectibles. They recently moved into a new location, a historic building in downtown Evansville.
101 N. Fulton Ave.
Evansville, IN 47710
Casper’s Coins offers both collectible coins and precious metals. They offer a wide selection of gold and silver bullion, and are known for their low premiums, with pricing on gold and silver tied to real-time market quotes. They buy and sell silver dollars, rare gold coins, proof coins, US and foreign currency, and collectible coins. They also purchase scrap gold, silver, and platinum. Many of their products are available for purchase online. Casper’s Coins has locations in South Bend and Goshen.
214 North Dixie Way
South Bend, IN 46637
Gold and Coin of America
Among Indiana’s largest coin dealers, Gold and Coin of America has four locations throughout Central Indiana. Founded in 2001, they have quickly built a reputation for quality and integrity. Gold and Coin buys from individuals and dealers from surrounding states, resulting in an ever-changing inventory of coins and precious metals.
Many of their items are available for purchase on eBay. They purchase gold, platinum, silver, diamonds, rare coins, paper currency, and stamps. Gold and Coin also runs a kids’ club for the next generation of coin collectors.
7765 East Washington St.
Indianapolis, IN 46219
Engle’s Coin Shop
Founded in 1969, Engle’s Coin Shop has made customer satisfaction their top priority. Engle’s offers competitive pricing for coins and bullion, and they buy, sell, and trade rare coins, certified coins, paper currency, jewelry, and precious metal bullion including gold, silver, and platinum.
Engle’s is an NGC and PCGS authorized dealer, and also provides access to refining and assaying services.
3520 Founders Rd.
Indianapolis, IN 46268
Local Gold and Silver Mints in Indiana
Also browse the gold and silver mints local to Indiana. Some of these mints offer retail products, while others are wholesale only.
SilverTowne, founded in 1949, is among the largest private silver mints in the United States. They produce silver bullion bars in 1, 5, and 10 ounce sizes, each containing .999 fine silver. These are investment-grade bars with a fairly simple design. Some of their five ounce bars feature a donkey and prospector design. SilverTowne’s silver bars are hand-poured, giving them an unusual appearance that is favored by some investors and avoided by others.
120 E. Union City Pike
Winchester, IN 47394
Thank you for reading our guide to gold and silver buying in Indiana. If you know of any other coin or bullion shops in IN, please contact us so we can update our directory.