Buying Gold and Silver in Wyoming

Wyoming is the U.S. state with the lowest population. Less than 590,000 people live in Wyoming. 65,000 Wyoming residents live in Cheyenne, which is both the state’s capital and its most populous city. The only other city in Wyoming with a population of over 50,000 is Casper, which has a total population of 58,000 people.

Despite being the least populous U.S. state, Wyoming has quite a bit to offer coin collectors and precious metal investors. Most of Wyoming’s popular coin dealers and bullion distributors are situated in Cheyenne and Casper, the state’s two most populous cities. Aside from a number of high-quality coin dealers, Wyoming has an active community of coin collectors for investors to get involved with.

Coin collectors and precious metal investors in Wyoming should know that the state charges a sales tax on certain precious metal products, including:

• Copper Products
• Unmarked Precious Metals
• Accessories
• Processed Bullion

If you’re interested in learning more about how Wyoming taxes precious metals, check out our Wyoming sales tax overview by clicking the link at the bottom of this page.

Otherwise, this page is your one-stop-shop for everything you need to know about local coin dealers and how to buy precious metals locally in Wyoming.

Buying Precious Metals Online vs. Locally In Wyoming

Wyoming’s several qualified bullion dealers can help new and experienced precious metal investors grow their portfolios or build their coin collections. However, buying precious metals locally isn’t the only way to invest. A growing number of stackers are taking advantage of the competitive prices, extensive inventories, and convenience offered by online precious metal dealers. Whether this is your first or your hundredth precious metal purchase, we recommend taking a moment to decide which type of dealer is right for you. 

Local precious metal dealers and coin shops in Wyoming tend to offer savings through no shipping fees, as well as access to some hard-to-find coins, bars, and rounds that you won’t find stocked at many online bullion stores. Additionally, doing business locally can help you build connections and expand your network within the local coin collecting community of Wyoming. These are all great benefits, and there’s a reason why some investors prefer to trade metals locally. 

However, investing in gold and silver online also comes with its own set of benefits. First, online dealers can often afford to sell precious metals for cheaper than the prices at your local coin shop. The comparably lower cost of doing business online makes it easy for online dealers to cut prices and pass those savings along to you. Additionally, most online dealers offer considerably larger inventories compared to the average local coin shop or bullion dealer. 

To decide whether you should buy bullion online or locally in Wyoming, we recommend thinking about your personal preferences, goals, and budget. After all, your financial future is your own, and nobody can tell you what your goals are. 

Let’s take a look at some of the pros and cons to buying precious metals online versus locally in Wyoming: 

Gold and Silver Taxes in Wyoming

The state of Wyoming requires dealers to collect sales taxes upon the sale of certain precious metal products, including copper products, unmarked precious metals, accessories, and processed bullion. 

If you plan to buy precious metals or coins in Wyoming, take a look at our overview of Wyoming’s sales tax laws by clicking one of the links below.