Named after a spring discovered in the Acorn Park area in 1840, Silver Spring, MD, is now the fourth-largest place in the state of Maryland. Officially unincorporated and considered a census-designated place, it boasted a population of 76,716 as of 2013.
One of Silver Spring’s most significant areas is the Central Business District, or CBD. These 7,254,729 square feet of office space boasts a population density of more than 15,000 per square mile and serves as an updated and vibrant area for business.
Also included in the CBD are acres of park space and more than 5,000 residences. Silver Spring also hosts a number of important and popular events every year. These include an annual documentary film festival and a jazz festival that draws more than 20,000 attendees.
In addition, the area boasts a music and entertainment venue called the Fillmore, as well as the American Film Institute, Discovery Communications, and the Cultural Arts Center.
Sales Tax on Gold and Silver in Silver Spring
The state of Maryland leverages a 6% sales tax on most purchases. This tax is applicable to most purchases of gold, silver, and other precious metals. Precious metal purchases that are subject to the sales tax, for example, include all sales of numismatic coins, copper, items that are not legal currency in any nation, and items constructed from gold and silver.
There is an exception to the sales tax regulation, however: any purchases of bullion or coins that are more than $1,000 are sales tax exempt in the state.
Local Gold and Silver Dealers in Silver Spring
Since 1961, Bonanza Coins has provided the Silver Spring area with a large inventory of coins and other currency and collectibles from around the nation and the world.
940 Wayne Ave.
Silver Spring, MD 20910
Maryland Coin Exchange
The Maryland Coin Exchange is a PCGS-authorized dealer specializing in bullion, stamps, and coins.
8620 Georgia Ave.
Silver Spring, MD 20910
Maryland Stamps & Coins
Maryland Stamps & Coins has been buying and selling coins and stamps since 1974. Their more than 40 years of experience in the field equips them to offer a large inventory and free appraisals to customers.
4803 Saint Elmo Ave.
Bethesda, MD 20814
Pegasi Numismatics offers a wide inventory of ancient and medieval coins. These include some of the earliest coins created up to coins minted in the year 1650.
1100 17th St. NW
Washington, DC 20036
U.S. Penny and Coin Services CorporationThe U.S. Penny and Coin Services Corporation specializes in a wide variety of foreign coins and currency. These include rare coins, damaged coins, and foreign currency, and the business both buys and sells these products.
901 W. Broad St.
Falls Church, VA 22046
Thanks for reading our guide to buying gold and silver bullion and coins in Silver Spring, MD. If you know of any other coin or bullion shops in Silver Spring, please contact us at Metals.com so we can update our directory.