Minneapolis is the largest municipality in Minnesota, with a 2017-estimated population of 422,331. It is also the county seat of Hennepin County in the state and the larger of the Twin Cities; the smaller being St. Paul. The Twin Cities and their suburbs are home to about 3.6 million people, making the area the third-largest economic center in the Midwest.
Minneapolis spans the Mississippi River and merges into the state capital, St. Paul. The city grew up around Saint Anthony Falls, which provided power for the lumber industry that developed there. The forests of northern Minnesota were an abundant source of lumber and the many sawmills in the area river relied on hydropower delivered by the falls.
Hydropower also drove the flour mills. Minneapolis was at one time the largest flour-milling hub in the world. The municipality is categorized as a global city due to its vast and diverse array of commercial and social activities.
Sales Tax on Gold and Silver in Minneapolis
Sales tax levied by the state in Minnesota is applied at the rate of 6.875%, with local municipalities adding sales and/or use tax up to an additional 1.5%. These taxes applied to coin and precious metals. However, as of July 1, 2017, sales of precious metal bullion became exempt, while coins are still subject to sales tax.
Precious metal bullion is defined as “bars or rounds that consist of at least 99.9% by weight of either gold, silver, platinum, or palladium, and are marked with weight, purity, and content.” Coins must be minted by a sovereign government for use as legal tender and have a face value. Sales tax still applies to jewelry, works of art, and scrap metal.
Local Gold & Silver Dealers in Minneapolis
Crystal Coin and Collectibles
Crystal Coin and Collectibles have been serving collectors in and around Minneapolis for 24 years. Owner Mike Carter is an expert and has been a numismatic aficionado for more than 50 years.
7000 57th Ave N Ste 103
Minneapolis, MN 55428
Gary Adkins Associates, Inc.
Established in 2001 by Gary Adkins, past president of the Professional Numismatist Guild, with more than 45 years of professional numismatic experience, Gary Adkins Associates is an investment specialist in precious metals and coins.
5151 Edina Industrial Blvd.
Minneapolis, MN 55439
Gold Guys has been operating in Minnesota since 2008 when Joe Beasy and Shane Maguire opened a store in Minnesota’s Mall of America.
60 East Broadway E357
Bloomington, Minnesota 55425
Great Lakes Coins and Collectibles
Great Lakes Coins and Collectibles has been in operation serving collectors and investors, since 1987.
14321 Nicollet Ct
Burnsville, MN 55306
Premium Quality Coins
Premium Quality Coin is a professional rare coin and bullion firm located in downtown Minneapolis. The firm has been assisting collectors and investor with the purchase and sale of gold and silver and rare coin collections since 1985.
250 2nd Ave S #280
Minneapolis, MN 55401
Twin Cities Gold and Silver Exchange
Twin Cities Gold and Silver Exchange buys and sells a wide range of precious metal items and coins.
4813 Excelsior Blvd
Minneapolis, MN 55416
World Class Bullion
World Class Bullion offers a large selection of modern numismatic coins at competitive pricing.
701 N 3rd St #008
Minneapolis, MN 55401
Yellow River Rare CoinsYellow River Rare Coins offers an extensive range of rare coins, as well as gold and silver bullion.
3735 Lakeland Ave, Suite 217
Minneapolis, MN, 55422
Thanks for reading our guide to buying gold and silver bullion and coins in Minneapolis, MN. If you know of any other coin or bullion shops in the city of Minneapolis, please contact us at Metals.com so we can update our directory.