Buying Gold and Silver in Minneapolis, Minnesota

With a population of over 425,000, Minneapolis is the largest city in Minnesota and serves as the state’s functional trade capital. If you’re a coin collector or bullion investor in Minneapolis, the good news is you have no shortage of qualified precious metal dealers in your area to help you stock up on the gold, silver, jewelry, and rare coins you need for your portfolio. 

If you plan on selling precious metals, Minneapolis is also home to several coin shops that buy bullion from customers, and you should have no problem securing a fair and affordable appraisal locally in Minneapolis for your coins, rounds, bars, or other precious metal products. 

Investors who want to buy precious metals in Minneapolis should know that the state of Minnesota does charge a sales tax on certain bullion product types. For more information on which projects are considered taxable (and which aren’t) in Minnesota, scroll down to the bottom of this page. 

Should You Buy Precious Metals Online Or Locally in Minneapolis, Minnesota?

For investors who plan to buy precious metals locally, Minneapolis is a fantastic place to be. Minnesota’s most populous city has quite a few high-quality precious metals dealers to offer, and the city also boasts an excellent community of collectors, dealers, and precious metal stackers. Buying gold and silver locally in Minneapolis, Minnesota can help you save money on shipping fees, build connections with your local coin collecting community, and sometimes even track down hard-to-find precious metal products like rare or limited edition coins. 

However, buying precious metals online could also be a great choice, especially if you are interested in a hassle-free buying experience, industry-leading prices, and a wider inventory of in-stock products that most brick and mortar Minneapolis coin shops are able to provide. Ultimately, it’s on you to choose whether online or local Minneapolis coin shops are a better choice for your collecting and investing goals. 

Let’s take a look at this comparison chart displaying the differences between buying gold and silver online versus locally in Minneapolis. 

Gold and Silver Taxes in Minneapolis, Minnesota

The state of Minnesota requires local coin dealers and online shops to collect sales taxes on certain precious metal products sold within or delivered to addresses in the state. If you’re unsure about Minnesota’s sales tax laws and how they pertain to precious metals, click the link below to check out our full guide to precious metal taxes in Minnesota.