Ohio Bullion Dealers

Ohio offers a variety of options for those interested in buying and selling precious metals like silver and gold. From traditional local coin shops and bullion dealers to pawn shops, online platforms, and coin shows, investors have numerous avenues to explore. The Buckeye State has an active market for precious metals, reflected in the number of local businesses and events catering to precious metal investors.

Local Coin Shops and Bullion Dealers

One of the best ways to purchase and sell gold and silver in Ohio is through local coin shops and bullion dealers. These businesses offer face-to-face transactions, the opportunity to inspect precious metals before purchase, and expert advice from knowledgeable professionals. Many well-established local dealers have earned a reputation for transparency and fair pricing. Cities like Columbus, Cleveland, and Cincinnati host several reputable coin shops and bullion dealers.

Pawn Shops

Pawn shops offer a convenient way to sell precious metals quickly and sometimes purchase them at fair prices. While the premiums on purchases may be slightly higher than those found at coin shops or bullion dealers, the advantage of immediate cash transactions makes them a viable option for some investors. Towns like Dayton, Toledo, and Akron have numerous pawn shops where precious metals can be bought or sold.

Coin Clubs and Shows

Ohio is home to several coin clubs and shows, which offer investors and collectors a chance to buy, sell, trade, and learn about precious metals in a more social and educational environment. These events often bring together dealers from around the state, offering a more comprehensive selection of rare coins, bullion products, and collectibles.

Online Dealers

For investors seeking convenience, online dealers are an excellent option. These platforms offer competitive pricing and a wide selection of precious metal products. Ohio investors can easily compare prices, review customer feedback, and have their metals shipped securely to their homes or storage facilities.

Precious Metals IRAs

For those looking to incorporate precious metals into their retirement portfolios, Precious Metals IRAs offer a tax-advantaged way to invest in gold and silver. In Ohio, several companies provide the services necessary to set up and manage these accounts.

Storage Solutions for Precious Metals

Secure storage is an important consideration when buying physical gold and silver in larger quantities. Ohio has several storage options for those who prefer to keep their metals away from home.

Sales Tax in Ohio

Ohio has specific sales tax laws regarding precious metals. As of 2023, gold and silver bullion and coins are exempt from sales tax, making it more cost-effective for investors to buy these precious metals within the state. This exemption applies to items that are at least 90% pure by weight. It's important for investors to stay updated on any changes to these laws to make informed purchasing decisions.

Local shops in cities like Youngstown and Canton provide opportunities to sell scrap gold or silver based on its weight and current market prices. Staying informed on the latest precious metal prices is essential, as market conditions can fluctuate rapidly. Some Ohio retailers, including pawn shops and precious metal refiners, specialize in purchasing scrap metals and offer quick cash deals, which can be especially useful in times of economic uncertainty.

Overall, Ohio's precious metals market offers a robust network of local dealers that provide a wide array of services, from appraisals and in-person transactions to selling rare coins and scrap metals, making it a popular state for investing in bullion.