The city of Norfolk, incorporated in 1705, is the second-most populous city in the Commonwealth of Virginia, after Virginia Beach. Like many cities in Virginia, Norfolk is an “independent city”, which means it is not politically part of any county. In 2017, the city had an estimated 244,703 residents.
Norfolk is well known as the site of the largest naval base in the world. The Naval Station is a U.S. Navy base hosting the forces of the U.S. Fleet Forces Command, which are assigned to the Atlantic and Indian Oceans and the Mediterranean Sea.
The base houses about 75 ships and about 135 aircraft. Norfolk’s location is close to several bodies of water, including the Chesapeake Bay and the Elizabeth River, were undoubtedly a factor in its selection as the site of the Naval Station.
Norfolk is also the headquarters of the Allied Command Transformation (ACT), the military command of the North Atlantic Treaty Organization (NATO). In addition, Norfolk Southern Railway, one of North America's principal Class I railroads, and Maersk Line, Limited, which manages the world's largest fleet of US-flag vessels, have also chosen Norfolk as the locale for their corporate headquarters.
Sales Tax on Gold and Silver in Norfolk
The state sales tax is 4.3%, with a total of 6% tax including county, city, and special taxes. Some sales of precious metals are exempted from sales taxes throughout the state of Virginia. Virginia House Bill 1668 states that sales tax “shall not apply to the following... gold, silver or platinum bullion or legal tender coins whose sales price exceeds $1,000.
Each piece of gold, silver, or platinum or legal tender coin need not exceed $1,000, provided that the sales price of one entire transaction of such pieces exceeds $1,000." The exemption takes effect on January 1, 2019, and runs through June 30, 2022. Transactions not exempted are taxed at the following rates.
Local Gold and Silver Dealers in Norfolk
Bress Pawn & Jewelry
721 Granby St
Norfolk, VA 23510
J & B Coins
PO Box 12403
847 E Little Creek Rd
Norfolk, VA 23518
The Treasure Chest4015 E. Ocean View Ave.
Norfolk. VA 23518
Thanks for reading our guide to buying gold and silver bullion and coins in Norfolk, VA. If you know of any other coin or bullion shops in the city of Norfolk, VA, please contact us at Metals.com so we can update our directory.