Buying Gold and Silver in Florida, The Sunshine State
Florida, The Sunshine State, is the third most populous state in the country. It is home to the largest city in land area in the contiguous United States – Jacksonville. Highly popular for its orange crops, and amusement parks, and as one of the most famous holiday and retirement destinations, it attracts more than 100 million visitors every year. Florida was the prime location of the American Civil War and Seminole Wars and joined the United States in 1821. It is also known for being one of the seven US states that do not impose a personal income tax.
LOCAL COIN SHOWS
Coin collecting is popular hobby prevalent around the world. You can witness the passion for it as more and more coin enthusiasts travel to different states and countries to attend famous national and international coin shows. USA sees many coin shows throughout the year, and Florida is among the states which host a few of the most famous coin shows of the nation. If you are planning to visit Florida soon, take a look at the most popular coins shows in this state which are listed below.
Most popular coin shows:
Annual F.U.N. Convention Show – Greater Fort Lauderdale/Broward Convention Center. 1950 Eisenhower Blvd., Fort Lauderdale, FL
An annual event organized by Florida United Numismatists, Inc. The entry is free for the public from 2:00 PM to 8:00 PM. Started by a small group of coin collectors and dealers back in 1955, FUN organizes and supports numerous local, state, and national-level numismatic events. Various educational programs are also conducted during their quarterly and annually held events in order to grow the numismatic community and develop the interest among young numismatists.
4th Sunday Coin Show – Palm Beach Coin Club – American Polish Club 4725 Lake Worth Rd Greenacres, FL 33463, 561-964-8180
Held every month on the fourth Sunday at the same location. Opens at 9:00 am and forgathers many dealers which offer various coins and coin auction lots until 3:00 pm. There is no admission fee for visitors and one can also get free appraisals of their valuable possessions.
1st Saturday Coin Club Show – Eagle Lodge #3752 4249 New River Rd Wesley Chapel, FL 33540, 813-355-6813
Be it gold and silver bullion, medals, ancient coins, U.S. coins, paper money, tokens, or any other numismatic collectibles, they are all featured by dealers and collectors attending this coin show. The event is held on first Saturday almost every month, with an exception of holidays. The visitors are not required to pay any admission fee.
BREAKING DOWN BULLION SALES TAX IN FLORIDA
If a bullion coin is currently or has been in the past a US legal tender, like the Silver and Gold American Eagle Coins, it is not taxable in the State of Florida regardless of its sale price (with effect from July 1, 1999). Coins that are legal tenders of other countries, if sold at their face value, are also exempted from the sales tax in Florida. But if this bullion type is sold by weight or at any other amount, it is subject to the sales tax.
However, there is an exemption from the sales tax on the sales of precious metal bullion made of silver, gold, and platinum if the total amount exceeds $500 in a single transaction. On all transactions under $500, a 6% sales tax on precious metals is imposed.
As of July 1, 2021, Florida sales taxes are based on the transaction total, not on a per-item basis. However, there are exemptions. Sales tax exemptions for Florida include:
- Coins and currency that are US legal tender.
- Coins and any other currency with a face value of more than $500.
- Gold, silver, and platinum bullion whose price exceeds $500 is not taxable.