Making Gold and Silver Purchases in Louisiana
Louisiana is the 25th most populous state in the U.S. with a population of 4.7 million people. Situated on the Gulf of Mexico between Texas and Alabama, Louisiana is the only state in the nation with political subdivisions named parishes instead of counties. The state capital is Baton Rouge and the largest city in the state is New Orleans.
Louisiana’s urban areas feature a multicultural heritage influenced by French, Haitian, Spanish, Native American and African cultures unlike any other state in the country. In 1528, Panfilo de Navaez led an expedition to the mouth of the Mississippi River and in 1542 Hernando de Soto led an expedition to other parts of the state.
Later on, Spanish interest in the area faded and French expeditions established settlements on the Mississippi River and Gulf Coast. This French claim, the precursor to the Louisiana territory, would eventually stretch from the Gulf of Mexico all the way to Canada.
The state was named after King Louis XIV of France in 1682 and the first permanent settlement was made in 1699 by Pierre Le Moyne, a French military officer. Mobile and Biloxi, now cities within Alabama, served as the capital of Louisiana.
The Mississippi River was seen as vital to trade and to the military, so the French continuously developed New Orleans as the primary location of civil and military authority south of the Great Lakes area. In 1763, the land east of the Mississippi River was ceded to the British after the Seven Years War (the French and Indian War, as it was known in North America).
The French-owned territory of Louisiana was eventually sold to the United States in 1803 for $15 million, partially to allow the French to pay for their accumulated war debt. The purchase of Louisiana doubled the size of the United States and allowed for westward expansion for the young country.
Sales Tax on Gold and Silver in Louisiana
Louisiana governor John Edwards signed HB 396 into law in 2017, exempting most purchases of platinum, gold and silver bullion that is valued solely on its precious metal content.
The bill also impacts numismatic coins that have a sales price of no more than $1,000. Under current law, gold and silver are subject to capital gains tax if exchanged for Federal Reserve notes or when involved in barter transactions.
Local Gold and Silver Dealers in LouisianaFor those interested in coin shops in specific cities located in Louisiana, you can find helpful information via our other local directory pages:
• Local coin shops in New Orleans, LA
• Local coin shops in Baton Rouge, LA
• Local coin shops in Shreveport, LA
• Local coin shops in Lafayette, LA
• Local coin shops in Lake Charles, LA