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Making Gold and Silver Purchases in Colorado

Colorado is a Rocky Mountain state and the 8th largest in area in the U.S. located in the West, its 104,094 square miles was home to 5,607,154 people in 2017, making it the 21st most populous U.S. state.

The state gets its name from the Colorado River which runs for 1,450 miles from the Rocky Mountains in Colorado to Mexico. The first settlements in Colorado were by Spanish explorers, who gave the river the name “Colorado” for colored red because of the red sandstone silt it carried. Colorado became the 38th U.S. state.

It was first organized as a territory on February 28, 1861, and admitted to the Union on August 1, 1876, on the authority of a proclamation issued by President Ulysses S. Grant. Since the state became part of the United States one hundred years after the signing of the United States Declaration of Independence, it has garnered the sobriquet of "Centennial State."

Colorado is an island of liberalism in a sea of conservatism. It was the first state in the U.S. to legalize recreational cannabis, which it did in 2012. And two years later, in 2014, same-sex marriage was made legally possible. In 2016, the state approved measures that decriminalized assisted suicide.

And in 2018, became the first state in the United States to elect an openly gay governor, Jared Polis. Colorado is also the second state to grant universal suffrage and the first to do so by popular vote. Women in Colorado have had the right to vote since November 7, 1893.

The state has given its name to two U.S. Navy warships. Before that, another ship was named USS Colorado in the 19th century after the Colorado River. The first USS Colorado named to honor the state was a battleship that served in World War II. She was commissioned in 1923 and decommissioned in 1947. The second is a nuclear-powered attack submarine currently in service.

Sales Tax on Gold and Silver in Colorado

In Colorado, retail sales of coins and precious metal bullion are exempt from sales tax. The exemption has broad application. It applies to state, county, and state-collected local taxes, as well as authorities such as the Regional Transportation District and the Scientific and Cultural Facilities District. At the level of local jurisdictions and municipalities, regulations may vary.

Currency related objects, such as paper money, tokens, checks, wampum, and similar items, may be subject to sales taxes. State tax currently stands at 2.9%. Transactions involving jewelry and commemoratives are taxable.

However, precious metal bullion and coins that are or were at one time used as currency or medium of exchange in the United States or a foreign country (such as quarters, dimes, nickels and pennies) are exempt.

Local Gold and Silver Dealers in Colorado

If you are looking for coin shops in specific cities located in the state of Colorado be sure to check out our other local directory pages:

Local coin shops in Denver, CO
Local coin shops in Colorado Springs, CO
Local coin shops in Aurora, CO
Local coin shops in Fort Collins, CO