Making Gold and Silver Purchases in Kentucky

Kentucky, in addition to Virginia, Pennsylvania and Massachusetts, is officially known as a commonwealth rather than a state. Originally part of Virginia, Kentucky became the 15th state to join the Union in 1792.

It is the 26th most populous state with approximately 4.5 million people. Kentucky has a variety of geographic environments, including the world’s longest cave system (Mammoth Cave National Park) and the greatest length of navigable waterways in the U.S. In addition, it has the two largest man-made lakes east of the Mississippi River.

Known for its horse racing, bourbon distilleries, moonshine, coal, automobile manufacturing, college basketball and Kentucky Fried Chicken, Kentucky is a state with diverse interests and attractions.

Identified as one of the border states, Kentucky was officially neutral during the American Civil War. U.S. President Abraham Lincoln and Confederate President Jefferson Davis were both born in Kentucky.

Kentucky is also known as the location of the Black Patch Tobacco Wars, an action by vigilantes protesting the selling of tobacco at very low prices to large tobacco companies. The vigilantes often burned crops, warehouses and assaulted farmers who did sell to tobacco companies. The action ended when the state deployed the Kentucky National Guard and declared martial law.

Kentucky was originally known for its ideal farming conditions, becoming the home of the first commercial winery in the U.S. The state is also a center of business for tobacco farming and horse racing and breeding. Today, Kentucky’s economy has expanded to include auto manufacturing, energy fuel production and medical facilities.

Sales Tax on Gold and Silver in Kentucky

Although Kentucky introduced a bill to exempt gold and silver from sales and use tax, the bill ultimately failed, and the state continues to tax purchases of bullion.

Local Gold and Silver Dealers in Kentucky

For those interested in coin shops in specific cities located in Kentucky, you can find helpful information via our other local directory pages:

Local coin shops in Lexington, KY
Local coin shops in Louisville, KY
Local coin shops in Bowling Green, KY
Local coin shops in Owensboro, KY