“Big” is, perhaps, the best word to describe Detroit. With a 2017 population of 673,104 and a metro-area population of 4.3 million, Detroit is the largest city in Michigan, the 23rd-largest city in the entire nation, and a member of the second-largest metropolitan area in the Midwest.
In addition, Detroit boasts big accomplishments: Its airport is one of the busiest in the nation, while the city is connected to the Canadian city of Windsor by the Ambassador Bridge—the busiest international crossing in North America. Besides its central economic and transportation location, however, Detroit is a center of art and culture.
The city boasts a strong artistic community and numerous live music performances. It has also served as the location of an international jazz festival and numerous other major musical events. It is where techno music got its start. Detroit is also defined by unique architecture and a strong tourism industry.
Sales Tax on Gold and Silver in Detroit
The General Sales Tax Act in Michigan exempts certain types of gold and silver purchases, specifically investment coins and precious metal bullion, from the sales tax. Investment coins must be a federal currency, worth more than its face value, and be made of gold, silver, platinum, or palladium.
Bullion of gold, silver, or platinum must be at least 90% pure to qualify for the sales tax exemption. Any other coins (such as medallions or tokens) or paper currency are subject to the state’s six percent sales tax.
Local Gold and Silver Dealers in Detroit
Since 1965, Abbott’s has provided investors and collectors with a wide range of rare coins, investment-grade PCGS and NGC certified coins and other collectibles. These collectibles include everything from flatware to jewelry, from stamps to bullion.
Their inventory changes daily, and they regularly buy and sell all of these items. A member of the Professional Numismatists Guild, the American Society of Appraisers for Numismatics, and the American Numismatic Association, they are equipped to appraise almost any type of rare coin or coin collection.
33700 Woodward Ave.
Birmingham, MI 48009
Chelsea Rare Coins
Chelsea Rare Coins has access to almost any type of collectible precious metal or invest-grade U.S. coin. This PCGS and NGC authorized dealer and member of the American Numismatic Association attends numerous coin shows every year in order to source inventory and special requests from customers.
In addition, they sell a large selection of rare coin and currency in their brick and mortar store. Examples of the types of coins you can find there include Morgan and Peace silver dollars, half dollars, and more. The store also buys scrap silver and gold, as well as other valuables such as precious metals, Franklin Mint rounds, and stamps.
Customers can access a portion of their inventory through eBay and their website.
1170 S Main St. #300
Chelsea, MI 48118
Coins & Stamps Inc
Investors and collectors who are looking for a variety of coins or stamps can go to Coins & Stamps, Inc. to access an inventory of bulk coins, paper currency, stamps, and other items.
17658 Mack Ave
Grosse Pointe, MI 48230
David Finkelstein Rare Coins
While David Finkelstein’s address is located in Michigan, his store is exclusively online, through his website and partially through eBay as well. His inventory is unique and diverse, offering collectors and investors a wide selection of raw and certified domestic coins.
Examples of his inventory include varieties and errors, Indian and Lincoln sets, silver coins, PCGS, NGC, and ANACS certified coins, and more. Finkelstein possesses more than 40 years of experience and numerous memberships in collecting organizations.
PO Box 87641
Canton, MI 48187
Mync Jewelers and Coins
Mync Jewelers & Coins’ most unique inventory offering is their Polish coin collection. However, the company also buys and sells all types of bullion, domestic and foreign coins, paper currency, and other items such as scrap gold and silver, pocket watches, and precious stones. They visit estates and large collections as well.
8779 Hall Rd.
Utica, MI 48317
Rare Coins of Michigan
With a 24-hour phone line dedicated to offering quotes for items such as gold and silver coins and precious metal in all forms, Rare Coins of Michigan makes its more than 40 years of experience easily accessible to customers.
Its inventory also includes a wide variety of numismatic collectibles and domestic paper currency. Its quote line can be accessed at (586) 751-8966.
30500 Van Dyke Ave.
Warren, MI 48093
U.S. Coin Gallery Inc.Despite its name, U.S. Coin Gallery Inc. actually deals in precious metals, bullion, and coins and offers appraisals. They are a PCGS and NGC authorized dealer.
A certified coin dealer with more than 30 years of experience in the Detroit area, U.S. Coin Gallery Inc. is also an official U.S. Mint distributor and the owner of a wide inventory of U.S. coins and items (such as jewelry and flatware) purchased from customers. Their inventory, which changes daily, includes paper currency, coins, and bullion, among others.
29441 W. 12 Mile Road
Farmington Hills, MI 48334
Thanks for reading our guide to buying gold and silver bullion and coins in Detroit, MI. If you know of any other coin or bullion shops in the city of Detroit, please contact us at Metals.com so we can update our directory.