Coins and precious metals purchases are charged 4% excise tax.
Bullion dealers primarily deal in buying and selling precious metals, such as gold and silver bars and coins. Some dealers may have physical storefronts where you can make purchases.
Also, specialized coin shops often sell a wide range of precious metals, including gold, silver, platinum, and palladium coins and bullion. These shops also offer collectible coins and numismatic items.
Some jewelry stores occasionally trade in precious metal bullion in addition to jewelry. Keep in mind that jewelry items might come with a higher premium due to craftsmanship.
When looking to buy, sell or trade precious metals in Hawaii, local coin stores and specialized dealers often provide personalized assistance and guidance. Staff members are usually knowledgeable about coins, bullion, and other numismatic items, which can be especially helpful for new investors and collectors.
With only a handful of dealers in Hawaii, it may be a bit of a drive to get to your nearest local coin store. Many investors in Hawaii have the same issue, which has made shopping from online bullion dealers is often much easier.
There are coin shops and bullion dealers available in Honolulu, Kailua Kona and Kahului that buy, sell and trade precious metals in Hawaii. Visiting a local retailer may allow you to receive payment immediately rather than waiting for payment processing from online dealers. Taking the time to visit silver dealers in Hawaii in person allows you to buy or sell precious metals on the spot, without waiting for online transactions to be processed and shipped.
Some companies specialize in buying gold and silver items from individuals. Precious metal refiners often buy scrap gold and silver for the value of the metal. Some of the shops in Wailuku or Pearl City may be worth a visit. Remember that prices for gold and silver can vary based on market conditions, so it's a good idea to stay informed about current prices before selling.
Getting top dollar for your precious metals investment is important when the time comes and you want to sell some off to raise cash. While many trusted and reputable online bullion dealers often buy gold and silver from individuals, local bullion dealers can sometimes offer you cash on the spot.