Making Gold and Silver Purchases in Alabama
Known as the “Heart of Dixie” and the “Cotton State,” Alabama became the 22nd state in 1819. A 2015 census estimated the population nearing 5 million, which includes its largest and most well-known cities Birmingham, Montgomery, Huntsville, and Mobile.
Montgomery serves as the state’s capital. Initially occupied by indigenous peoples for thousands of years, the area was colonized by Spanish settlers in the 16th century before being divided between Spain and the United States. Alabama’s oldest city, Mobile, was founded as the capital of French Louisiana by the French in 1702.
Alabama was heavily invested in the American Civil War, due to a largely agricultural economy based on cotton. After World War II, the state branched out into other industries. Today the base of the economy ranges from manufacturing to healthcare and technology.
Alabama is bordered by the states of Georgia, Florida, Mississippi, and Tennessee, with a small stretch on the Gulf of Mexico. The state is classified as having a humid subtropical climate with warmer temperatures toward the south at sea level and cooler temperatures closer to the northern Appalachian Mountains.
Sales Tax on Gold and Silver in Alabama
Currently, the state of Alabama applies a relatively high sales tax to precious metals, between 9-10% in major cities such as Birmingham and Montgomery.
However, there is ongoing discussion to include precious metals as an alternative option to paper assets, such as paper currency, bonds, and stocks. One such development in 2018 resulted in Senate Bill 156 being signed into law in to create a sales tax exemption for precious metals, including gold, silver, and platinum bullion.
Local Gold and Silver Dealers in AlabamaInterest in coin shops located in specific cities within the state of Alabama can be found in the following directory:
• Local coin shops in Birmingham, AL
• Local coin shops in Montgomery, AL
• Local coin shops in Huntsville, AL
• Local coin shops in Mobile, AL