The second-largest city in Michigan, Grand Rapids boasts the proximity to water that defines much of the state. This “River City” is named after the Grand River, where the city sits.
In addition, Grand Rapids is located just 30 miles from Lake Michigan. In 2010, the city boasted a population of 188,040. In addition, the broader Grand Rapids metropolitan area boasts a population of just over a million, and the city itself is the seat of Kent County. Grand Rapids has strong roots in furniture manufacturing, with one of its oldest nicknames being “Furniture City.”
Five major office furniture manufacturing companies are still headquartered in the city today. However, economically, Grand Rapids has diversified. Today, the city boasts strengths in healthcare (including serving as the headquarters of Spectrum Health), health sciences (including the Van Andel Research Institute), and automobile and aviation manufacturing.
Grand Rapids is the birthplace of President Gerald Ford, who is buried with his wife at a museum dedicated to them in the city.
Sales Tax on Gold and Silver in Grand Rapids
Gold and silver purchases in Grand Rapids are subject to the state sales tax laws. One of these laws, the General Sales Tax Act, allows for the exemption of investment coins and bullion.
Investment coins that qualify include federal currency that is worth more than its face value, while bullion that qualifies includes anything made of gold, silver, or platinum that is at least 90% pure. Other types of gold and silver purchases, such as tokens, medallions, paper currency, and even state currency, are subject to a 6% sales tax.
Local Gold and Silver Dealers in Grand Rapids
Diemer’s Coins, Jewelry & Collectibles Founder of Diemer’s Coins, Dan Diemer, has a lifetime of coin experience to offer customers. As a result, his shop has gained a reputation for knowledge, reasonable prices, and the quality of its inventory. Investors and collectors will find domestic and foreign coins, as well as rare and key date coins, and have the chance to sell any items they no longer want.
4982 Plainfield Ave. NE
Grand Rapids, MI 49525
Grand Valley Gold and Silver
One of the largest precious metal dealers in the western part of the state, Grand Valley Gold and Silver buys gold and silver, including scrap gold, jewelry, coins, and bullion. Committed to beating any written offer from other dealers, they also sell items such as gold and silver domestic coins, Chinese Pandas, and South African Krugerrands.
4378 Lake Michigan Dr. NW
Grand Rapids, MI 49534
Jerry's Coin Shop
Jerry's Coin Shop sells precious metals, such as gold and silver, in addition to coins and diamonds.
522 28th St. SW
Wyoming, MI 49509
A PCGS and NCG authorized dealer, and a member of the American Numismatic Association, Mullen Coins’ reputation is in graded, pre-1933 U.S. gold coins and their knowledgeable support of consumers. In addition, the shop offers a wide selection of other domestic coins, ancient coins, paper currency, and more. They sell inventory through their website and through appointments at their brick and mortar store.
4710 44th St. SE
Grand Rapids, MI 49512
The Coin Shoppe
The Coin Shoppe both buys and sells a variety of precious metal bars, jewelry, and coins, as well as scrap gold. Their inventory includes bullion, bars, and graded and raw coins (both domestic and foreign), as well as mints.
1760 44th St. SW
Wyoming, MI 49519
The Gold and Silver Exchange
At the Gold and Silver Exchange, consumers can access a wide variety of collectibles and precious metals, from diamonds to gold and silver bullion. The shop also specializes in estate sales.
3323 Woodland Mall Dr. SE
Grand Rapids, MI 49512
West Michigan Jewelry ExchangeWest Michigan Jewelry Exchange boasts an ever-changing inventory driven by their practice of purchasing items from customers, and reputation for reasonable pricing. Their inventory includes a variety of bullion and coins, as well as scrap gold, flatware, and jewelry.
4364 Division Ave. S.
Grand Rapids, MI 49548
Thanks for reading our guide to buying gold and silver bullion and coins in Grand Rapids, MI. If you know of any other coin or bullion shops in the city of Grand Rapids, please contact us at Metals.com so we can update our directory.