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| Above, the entrance to the National Money Show in Phoenix, Arizona. Photo by Armand Vaquer. |
A few years ago, the National Money Show was held in Phoenix, Arizona. This was great for two reasons: first, it was not too far from home and, second, there is no sales tax on gold and silver in Arizona.
Unfortunately, I cannot say the same about the sales tax in New Mexico. The state charges sales tax on gold and silver coin purchases.
MSN posted an investing guide that discusses what states that don't have a sales tax on coin purchases.
They begin it with:
Gold and silver investment strategy: As gold and silver prices climb, more investors are stepping into the physical precious metals market, as people are looking for stability during uncertain times. With gold trading above $5,100 per ounce and silver above $82 per ounce as of Tuesday, for many buyers, the surprise isn’t the spot price, it’s the sales tax.
A the old saying goes: Buyer beware!
To read more, go here.
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