Incorporated as a city in 1837, Chicago is the heart and soul of Illinois. The city lies on the shores of Lake Michigan and developed near a portage between the Great Lakes and the Mississippi River.
Its strategic position has contributed to its rapid growth. However, that growth has suffered severe setbacks. In 1871, a conflagration that came to be known as the Great Chicago Fire destroyed 17,500 buildings and left 100,000, about one-third of the city’s population homeless.
After the Great Chicago Fire of 1871, which destroyed several square miles and left more than 100,000 homeless, the city made a concerted effort to rebuild. The construction boom accelerated population growth throughout the following decades, and by 1900, Chicago was one of the five largest cities in the world. The city has an estimated 2.7 million residents and is the center of the Chicago metropolitan area, with close to 10 million people. It covers an area of around 234 square miles.
It was the site of the creation of the first standardized futures contracts at the Chicago Board of Trade, which today is the largest and most diverse derivatives market in the world, generating 20% of all volume in commodities and financial futures. In 2012, Chicago was listed as an alpha global city by the Globalization and World Cities Research Network, and it ranked seventh in the entire world in the 2017 Global Cities Index.
Chicago also has the fourth-largest gross metropolitan product in the world—generating about $670.5 billion according to September 2017 estimates—ranking it after the metropolitan areas of Tokyo, New York City, and Los Angeles, and ahead of London (#5) and Paris (#6).
Sales Tax on Gold and Silver in Chicago
Generally, there is no sales tax in the state of Illinois on sales of precious metals, including legal tender, medallions, and bullion. However, South African Krugerrands are still subject to sales tax and in Chicago, the total rate is 10.25%, consisting of Illinois State tax 6.25%, Cook County tax 1.75%, Chicago City tax 1.25% and Special tax 1.00%.
Local Gold and Silver Dealers in Chicago
A-1 Jewelry & Coin
Established in 1984, A-1 Jewelry & Coin is a family-run coin shop specializing in currency, rare coins, and bullion. This shop also offers appraisals. A-1 Jewelry & Coin also deals in jewelry, diamonds, flatware, and other collectibles and precious metal items.
They are known for competitive prices and a large, ever-changing selection. In addition to their Chicago storefront, A-1 also sells through eBay.
1827 W. Irving Park Road
Chicago, IL 60613
A & R Estate Buyers
A & R Estate Buyers is owned and operated by an expert Graduate Gemologist G.I.A. who has been in the estate buying business since 1981. The company buys diamonds, scrap gold, fine jewelry and watches, collectible coins, silverware and other rarities. Free evaluations of your treasures are offered.
1445 W Belmont Ave
Chicago, IL 60657
Archie’s Coins and Collectibles
Established in 1955, on Chicago's far northwest side, Archie’s is one of Chicago’s oldest coin shops. This family-operated shop serves as both a hobby shop and gold buyer. The owner and employees have more than 135 combined years of numismatic experience and are happy to share this expertise with new and experienced collectors alike.
Archie’s is known for offering an especially wide selection of U.S. coins, and also buys and sells bullion, jewelry, and precious metal scrap. Archie’s Coins is an NGC and PCGS authorized dealer.
5516 W Devon Ave
Chicago, IL 60646
Chicago Coin Company, Inc.
The staff at Chicago Coin Company has a combined experience of over 70 years and is a retail gold buyer and bullion dealer. They perform confidential appraisals for banks, trusts, estates, and insurance companies, as well as free verbal appraisals for individuals.
6455 W Archer Ave
Chicago, IL 60638
Chicago Gold Gallery
When selling gold coins and bullion, silver, platinum, and other valuable items to sell, the Chicago Gold Gallery has serviced the area since 1980. Always buying all forms of gold, silver, platinum and palladium, coins, silverware, old gold, jewelry, watches – they will separate the scrap gold items from the reusable better and re-sellable items and pay extra for them.
1236 W Devon Ave
Chicago, IL 60660
Glenview Coin & Collectibles Inc.
Founded in 1984, this family-operated coin shop is located in historic downtown Glenview. They are known for having a constantly changing inventory of valuable coins and unique collectibles, making this shop fun to browse.
Glenview Coin & Collectibles deals with new and experienced collectors alike and carries a wide array of U.S. and foreign coins and paper money, with a focus on rare and historic coins rather than precious metal bullion. Their collectible inventory includes sports cards, jewelry, collecting supplies, and political memorabilia. Glenview Coin offers PCGS, NGC, and ANACS coin certification, and also sells on eBay.
1713 Glenview Rd
Glenview, IL 60025
Gold Star Jewelry & Coin Co.
Gold Star Jewelry & Coin Co has been a family owned and operated business since 1918. The Lowis family are fourth generation owners, and between them, they have more than 75 years of knowledge and experience in the buy and sell business.
7048 N Clark St
Chicago, IL 60626
Kedzie Koins Inc.
With over 40 years’ experience, Kedzie Koin travels to all of the major coin shows in the country to bring you a huge selection of Morgan Silver Dollars and U.S. Type Coins. They also offer gold and silver coins (example: U.S. Mint American Gold Eagle coins), world coins, ancient coins, paper money, silver and gold bars and other bullion. Be sure to explore their extensive collection of coins in all grades, types, and conditions.
5909 S Kedzie Ave
Chicago, IL 60629
Morton Grove Coins & Collectibles
Morton Grove Coins was founded in 2008 and is a family owned business catering to coin collectors, as well as precious metal investors. Morton Grove Coins is known for carrying the latest U.S. mint releases and also stocks a wide selection of historic and modern U.S. coins and currency.
MGCC buys and sells gold, silver, platinum, and palladium. Their selection includes ancient coins, coin collecting supplies, silver bars, sterling jewelry, and more. An NGC and PCGS authorized dealer, MGCC is also a member of the America Numismatics Association and the Illinois Numismatics Association, and regularly attends area coin shows.
9241 Waukegan Rd
Morton Grove, IL 60053
New Era Jewelry & Coin
New Era Jewelry & Coin buys, sells, and appraises gold, silver, and platinum bullion, collectible U.S. coins and paper money, and jewelry. They also deal in diamonds, watches, foreign coins, and sterling silver flatware. While they specialize in coins bought and sold for their precious metal value, they also deal in historic and rare coins, catering to investors and collectors alike. New Era also sells on eBay and offers written appraisals by appointment.
4359 W Diversey Ave
Chicago, IL 60639
Niles Coin Shop
Located a short drive north of the city, Niles Coin Shop is set up to offer something for everyone, from families to new collectors to experienced investors. Their selection includes high-grade rare coins, silver bullion, and much more.
An authorized PCGS and NGC dealer, Niles is known for knowledgeable staff ready to help you make sound buying decisions. In addition to the coins available for purchase in their shop, Niles Coin Shop also runs twice-monthly auctions of numismatic collectibles.
7635 N. Milwaukee Ave.
Niles, IL 60714
Stamp KingChicago’s Stamp King is an old-fashioned stamp and coin dealer with little internet presence. Focusing on collectible coins and stamps, this shop is known for an expansive and unique inventory of historic and rare coins, including U.S. and foreign coins.
7139 W Higgins Avenue
Chicago, IL 60656
Thanks for reading our guide to buying gold and silver bullion and coins in Chicago, IL. If you know of any other coin or bullion shops in the city of Chicago, please contact us at Metals.com so we can update our directory.