Buying Gold and Silver in Utah

With a robust coin-collecting community and a wide range of qualified coin and bullion dealers, Utah is an excellent place to buy and sell rare coins, bullion products, and other numismatic items locally. Utah is also home to the original Goldbacks, a series of localized alternative currencies that began in the state. If you live in Utah, you shouldn’t have any trouble finding a high-quality bullion dealer to help you expand your portfolio or build your dream collection.

Many of Utah’s top coin and bullion dealers are situated in Salt Lake City, the state’s de facto administrative and economic capital. Two of Utah’s most popular local coin and bullion dealers are All About Coins and the Monarch Coin Corporation, both of which are located in the Salt Lake City metropolitan area. 

If you do plan to buy precious metals, rare coins, or other bullion collectibles in Utah, you should know that the state requires dealers to collect sales taxes on some precious metal purchases, including:

• Platinum and Copper Products
• Low Purity Bullion
• Non-Tender Coins
• Non-Tender Paper Currency
• Accessories
• Processed Bullion

This page is your resource for everything there is to know about how and where to buy precious metals and rare coins in Utah. For more information about Utah’s gold and silver tax requirements, scroll down to the bottom of this page. 

Buying Precious Metals Online vs. Locally in Utah

Choosing between online and local Utah precious metal dealers can be tricky, especially for new investors. While buying coins and bullion locally can come with several notable upsides, a growing number of buyers are taking advantage of the convenience and affordability of online bullion dealers to expand their portfolios of rare coins and bullion. 

Local dealers sometimes stock products that may be harder to find at your average online bullion dealer. When you buy locally, you’ll also usually save money by avoiding the costly shipping fees charged by many online dealers. Additionally, working with your local dealer can help you get more involved in your local coin-collecting community, and time investment that can pay dividends as you level-up your investing and collecting game. 

Online dealers tend to offer a wider range of in-stock products than most local coin shops. Moreover, you’ll usually find more competitive pricing online than in-person, since the cost of running an online store is cheaper than managing a brick and mortar coin shop. Many dealers now offer free shipping on qualifying orders, which gives you another chance to save money when you purchase precious metals online. Finally, 24/7 ordering through online bullion stores makes it easier than ever to build a portfolio you can feel proud of.

So which option is better? Should you buy precious metals online or locally in Utah? Ultimately, the choice is yours, and the answer depends on your preferences, investing goals, and budget. Let’s take a closer look at how local and online coin dealers compare:

Gold and Silver Taxes in Utah

The state of Utah requires precious metal dealers like Hero Bullion to collect sales taxes on certain types of products shipped to the state. You’ll pay these taxes at checkout, regardless of whether you buy your metals online or locally at one of Utah’s licensed bullion dealers. 

Below, you can find a link to Hero Bullion’s overview of precious metal sales taxes in Utah.