Buying Gold and Silver in Washington
Its population of around 8 million people makes Washington the 13th highest population state in the U.S. Aside from a large population situated in Seattle, Washington state’s residents are spread relatively evenly throughout cities all over the state. If you’re a coin collector or a precious metals investor in Washington state, you’re in luck – Washington offers a wide range of qualified coin and bullion dealers that can help you build your collection or expand your portfolio.
Many of Washington’s qualified coin dealers are located in Seattle, Olympia, and Spokane. Whether you’re a collector of rare coins, an investor in bullion, or a combination of both, you likely won’t have any trouble finding a top-rated gold and silver dealers to service your needs throughout the state of Washington.
If you do choose to invest in gold and silver in Washington, you should know that the state charges a sales tax on certain precious metal products, including:
- Paper Currency
- Accessories
- Processed Bullion
All other precious metal products are considered tax-exempt in the state of Washington, giving investors in the region yet another way to save as they work to build their portfolios with gold, silver, and other bullion products.
Buying Precious Metals Online vs. Locally in Washington
Washington-based investors have quite a few great options when it comes to qualified coin and bullion dealers, but buying metals locally isn’t your only option. A growing number of bullion stackers and coin collectors are taking advantage of the convenience of online bullion stores to help build their portfolios with ease while saving a substantial amount of money. For new investors, choosing between a local coin shop and an online bullion dealer can be tricky.
Online dealers offer several notable advantages. For one thing, online dealers tend to offer lower prices on most bullion products compared to the average local coin shop. The convenience of buying precious metals online is also a major benefit, since investors can order gold and silver 24/7 and speak with dedicated customer service teams who are willing to answer any questions they have. Finally, online dealers often offer a larger inventory than most local coin and bullion shops.
Other investors prefer to do business locally – and there’s nothing wrong with that. In fact, local coin dealers also offer a range of benefits compared to the average online shop. Local dealers can help you build relationships and get involved with your local coin collector and stacker communities, which can be a great way to network. Local shops also don’t charge shipping fees, which is a great way to save some money. Additionally, your local coin shop may occasionally have access to hard-to-find coins that online shops won’t bother to stock.
Ultimately, the best way to invest in gold and silver depends on your personal preferences and investing goals. Below, we’ll take a look at how local dealers and online dealers stack up.
Buying Bullion Locally
- Direct Inspection: Examine your purchases firsthand for quality and authenticity.
- Competitive Pricing: Negotiate deals directly, potentially reducing markups.
- Personalized Experience: Build personal relationships with local dealers/collectors.
- Unique Offerings: Access rare or unique coins or bars sometimes hard to find online.
- Flexible Negotiation: Enjoy tailored agreements through direct, face-to-face discussions.
- No Shipping Fees: Pick up and transport your investments for free from a local shop.
Buying Precious Metals Online
- Large Inventories: Explore a wide range of available products at online shops.
- 24/7 Ordering: Lock in prices and place orders 24/7 instead of waiting.
- Investor Resources: Learn more about products and investing using online tools.
- Easy Price Comparison: Easily compare multiple dealers to find discounts and save.
- Real-Time Pricing: Take advantage of spot price drops to buy based on the latest value of metals.
- Discounts/Deals: Save money using coupons, one-time deals, or limited promotions.
Top-Rated Washington Gold and Silver Dealers By City
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Seattle, Washington Coin/Bullion Dealers
Seattle Coin Shop
7509 35th Ave NE
Seattle, WA 98115
Seattle Coin Shop is a small coin shop nestled in the heart of Seattle, Washington. The shop was established in 1943, making it one of the oldest coin and bullion dealers in the Seattle region. Seattle Coin shop buys and sells rare coins, bullion bars, coins, and rounds, and even sterling silverware. The shop also buys paper currency and is willing to appraise both small and large estate lots. Seattle Coin Shop’s decades of experience make the store a destination for gold and silver investors in Seattle.
Northgate Rare Coins & Precious Metals
11319 Pinehurst Way NE
Seattle, WA 98125
Specializing in both rare coins and bullion, Northgate Rare Coins & Precious Metals is a local bullion dealer located in Seattle, Washington. This coin shop was founded in 1958 and is family-run. Northgate Rare Coins & Precious Metals buys and sells bullion products, rare coins, and even foreign money. Additionally, the coin shop offers free appraisals for most lots and is a member of Professional Coin Grading Services (PCGS), per their website.
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Spokane, Washington Coin/Bullion Dealers
American Coin & Vault, Inc.
5523 N Wall St
Spokane, WA 99205
Founded in 1979, American Coin & Vault is a premier coin and bullion dealer located in Spokane, Washington. This shop buys and sells precious metal products, rare coins, and more. American Coin & Vault, Inc. also specializes in scrap gold and silver and claims to be a “top payer” for scrap gold in the Spokane area. Shan Graham is the shop’s current owner and offers over 25 years of experience in the precious metals and rare coin industry.
Coins Plus, Inc.
3201 N Division St Ste A
Spokane, WA 99207
Coins Plus is a local Spokane, Washington coin shop that buys and sells gold, silver, platinum, palladium, numismatic coins, paper currency, and more. The shop is a popular place to buy gold and silver in Spokane, and this store’s transparent bid-ask model is a great tool for investors who are looking to liquidate their precious metal portfolios. Coins Plus, Inc. also sells a wide range of bullion and numismatic items.
Coin Corner
9215 E Trent Ave
Spokane, WA 99206
Coin Corner is one of Spokane, Washington’s top-rated coin and bullion dealers. The coin shop has been serving the Spokane region for over 45 years and is family-run. A member of ANA and authorized dealer by PCGS, NGC, and ANACS, Coin Corner is a highly-qualified precious metal and coin dealer for residents in the Spokane area. This shop buys and sells gold, silver, jewelry, and other numismatic rarities.
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Olympia, Washington Coin/Bullion Dealers
American Rare Coin, Gold & Jewelry
1025 Black Lake Blvd SW #1F
Olympia, WA 98502
American Rare Coin, Gold & Jewelry is a top-rated coin dealer located in Olympia, Washington. This dealer specializes in a wide range of valuable precious metals and rarities, including gold and silver bullion, platinum, rare coins, jewelry, diamonds, watches, and even more. American Rare Coin, Gold & Jewelry also offers free appraisals from their appraisers, who have over 24 years of experience.
Olympia Rare Coins
2303 Pacific Ave SE
Olympia, WA 98501
Despite the name, Olympia Rare Coins is a Olympia-based buyer and seller of rare coins, gold, silver, jewelry, paper currency, and other numismatic items. This shop offers appraisals for rare coins and other bullion items, making it one of the top-rated coins and bullion dealers in the Olympia area.
Gold and Silver Taxes in Washington
Thanks to recent legislation, Washington exempts most precious metal purchases from sales taxation. Washington-based precious metal dealers are still required to collect sales taxes on certain bullion products, including paper currency, accessories, and processed bullion.
Learn more about how Washington state taxes precious metal products by clicking the link below.
Precious Metals Sales Taxes in Washington
If you live in Washington and purchase precious metals locally or online, your dealers are required to collect sales taxes on certain types of products. Click the button below to read our full overview of Washington state’s precious metal sales tax requirements.