search

Silver Investing in Pennsylvania

investing in silver PASo you would like to begin your silver investing in Pennsylvania... Well, even though we call it the 'United States', the individual states are not always united. Actually they differ on how they handle many issues including financial transactions.

A good example would be precious metal purchases and any associated sales taxes. The buying and selling of precious metals is treated differently among the various states. Silver purchases can be taxed or if you're lucky, tax-free.

So we decided to analyze silver investing in Pennsylvania by simply spelling out the current tax laws and how they apply to your physical silver investments.

All the information gathered here is subject to change and was current at the time of this writing but not guaranteed to be accurate. This is the way of the world when it comes to tax laws and any other laws governing financial transactions.


Buying Silver in Pennsylvania

Buying silver in Pennsylvania is always a good investment regardless of your local tax laws. But as an investor, it pays to know and understand your sales tax laws and how they affect your personal silver investing.

buying silver in PennsylvaniaAgain, we refer to silver investing in the sense that your are actually buying silver bullion in Pennsylvania or a neighboring state and taking possession of it.

Remember, we focus on buying and holding physical silver bullion not paper investments like silver futures or mining stocks.

Residents of Pennsylvania currently pay a sales tax of 6%, Allegheny County has an additional sales tax of 1% above the PA sales tax rate for a total of 7%. Philadelphia County has an additional sales tax of 2% above the PA sales tax rate for a total of 8%.

This is a moderate sales tax when compared to other states. Unprepared food, most clothing, and shoes are not taxed, but some prepared food, soft drinks, and most other goods are.


Facts for Pennsylvania residents investing in silver

Silver bullion purchases are not subject to sales tax in Pennsylvania. This includes bullion and silver coins. The only cost you will pay at a PA coin dealer is their premium, that is, the amount they add to the transaction for their own profit.

Whether you reside in a larger city like Philadelphia, Pittsburgh, Allentown, Erie, Reading, Scranton, Harrisburg, or any less populated area, you should have no problem finding a coin dealer who transacts silver bullion.

Today we immediately turn to the internet for information, and in many cases, when we are ready to buy something. It is just human nature with all of the technology we have at our fingertips. But when it comes to buying silver bullion, your local coin shop may still be your best option.

silver investing in Pennsylvania
Tax-Free Silver Investing in Pennsylvania?

The fact is that your silver investing can be a simple face-to-face cash to metal transaction. Simply open up your phone book and find the coin shops in your area, then pay them a visit one at a time.

You can always treat yourself and make a silver purchase online if you see something that you can't buy locally. There are plenty of online mints with specialty pieces for sale as well as eBay if you find a seller you trust.

But as a PA resident, you will most likely build your silver investment at the best price possible if you buy tax-free locally.

Do you find silver bullion tax laws interesting?

If you find this interesting, take the time to see how each state can vary in their laws governing silver investing. It's amazing how the states can differ in the way they treat financial matters like silver bullion transactions.

In some cases, individuals living near their state's border may be better served driving to a neighboring state to make their bullion purchases...

Read more about silver investing by individual state .



See Also: Silver Investing in Alabama | Silver Investing in Arizona | Silver Investing in California | Silver Investing in Colorado | Silver Investing in Florida | Silver Investing in Georgia | Silver Investing in Illinois | Silver Investing in Indiana | Silver Investing in Louisiana | Silver Investing in Maryland | Silver Investing in Massachusetts | Silver Investing in Michigan | Silver Investing in Minnesota | Silver Investing in Missouri | Silver Investing in New Jersey | Silver Investing in New York | Silver Investing in North Carolina | Silver Investing in Ohio | Silver Investing in Pennsylvania | Silver Investing in South Carolina | Silver Investing in Tennessee | Silver Investing in Texas | Silver Investing in Virginia | Silver Investing in Washington | Silver Investing in Wisconsin


share-o-matic Pinterest Facebook Twitter Google