Buying Gold and Silver in Minnesota

If you’re a coin collector or bullion stacker in Minnesota, the good news is that the state offers a wide range of qualified gold and silver dealers to service your investing needs. Most of Minnesota’s popular bullion dealers are located in the Twin Cities, Minneapolis and Saint Paul. Combined, these two cities have a population of over 730,000 people, making them major destinations for precious metal traders in the region. There is also an active coin collecting community in Minnesota that collectors can take advantage of. 

This page is all about where (and how) to buy precious metals locally within Minnesota. Whether you’re a new stacker or a veteran rare coin collector, the state of Minnesota has everything you need to expand and diversify your precious metals portfolio. 

The state of Minnesota requires bullion dealers to collect sales taxes on certain precious metal purchases, so you’ll need to be aware of the state’s sales tax laws if you plan on purchasing gold, silver, or other precious metal products in Minnesota. At the bottom of this page, you can take a closer look at Minnesota’s precious metal sales tax requirements by visiting our overview page. 

Buying Precious Metals Online vs. Locally In Minnesota

Minnesota features a wide range of highly qualified gold and silver dealers, especially in the Twin Cities of Minneapolis and Saint Paul. Doing business with a local bullion dealer can help you locate hard-to-find products, avoid costly shipping fees, and build relationships with local dealers and other coin collectors in your area. 

However, online bullion dealers also come with a number of benefits for investors who want to grow their precious metal portfolios with investment-grade metals, rare coins, and other bullion products. Online precious metal dealers tend to offer a larger inventory of available products, lower prices, and 24/7 order placement, three benefits that most brick and mortar precious metal dealers in Minnesota don’t offer. 

Choosing between online and local Minnesota coin dealers can be tricky for Minnesota stackers who want to get the most out of their next bullion purchase. Let’s take a look at some of the advantages and disadvantages of buying bullion online versus locally in Minnesota:

Gold and Silver Taxes in Minnesota

Each state decides its own rules for which precious metal products are subject to sales tax. In Minnesota, coin and precious metal dealers are required to collect sales taxes when selling certain precious metal products.

Want to learn more about how Minnesota’s state sales taxes on gold and silver work? Check out our in-depth overview below.