Author Topic: INVESTMENT TIP FOR ANYONE THINKING ABOUT BUYING GOLD  (Read 438 times)

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Offline 5412

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INVESTMENT TIP FOR ANYONE THINKING ABOUT BUYING GOLD
« on: August 16, 2010, 04:31:31 PM »
Hi,

In Illinois there is no sales tax on purchase of gold coins, they look at it as an investment just like stocks etc.  Other states charge sales tax.  Now if a coin cost $1300, a 7% sales tax would add $91 to the price of the coin.  It would be prudent to check your state and those that neighbor your state to see if there are some that do not charge sales tax.

The Illinois dealer told me that he gets folks coming down from Wisconsin all the time to buy coins because Wisconsin charges tax on such purchases.

regards,
5412