Making Gold and Silver Purchases in Pennsylvania

Pennsylvania is one of the 13 original founding states of the United States. It is located in the northeastern and Mid-Atlantic regions, bordered by Delaware to the southeast, Maryland to the south, West Virginia to the southwest, Ohio to the west, Lake Erie and the Canadian Province of Ontario to the northeast, New York to the north, and New Jersey to the east. In terms of landmass, Pennsylvania is not among the biggest states in the country. It is actually the 33rd largest state with a total of 46,055 square miles of land, inland waters and Lake Erie.

Pennsylvania is the 6th-most populous state in the United States. It is equally the 9th most densely populated. As of 2018, Pennsylvania has an estimated population of 12,823,989, and the population density stands at 284/square meter. The capital of Pennsylvania is Harrisburg while the most populous cities are Philadelphia, with a population of 1,567,872, and Pittsburgh, with a population of 303,625. Major cities in the state include Allentown, Erie, Reading, Lancaster, Pittston, Lebanon, Bethlehem and several others.

Pennsylvania has a robust economy that is driven by such sectors as manufacturing, banking, and agriculture. In 2016, its gross state product of $719.8 billion ranked in 6th in the whole of the United States. If the state were an independent country; its economy would be ranked the 19th largest in the world.

The state is home to fifty Fortune 500 companies: Philadelphia in the southeast corner has six while Pittsburgh in the southwest corner has eight. Erie in the northwest corner, Scranton-Wilkes-Barre in the northeast corner, and Allentown-Bethlehem-Easton in the east central region are the other major manufacturing sectors that holds the economy of the state strong.

Sales Tax on Gold and Silver in Pennsylvania

The process of removing the bureaucratic shackles surrounding gold, silver, and other precious metals has been started in Pennsylvania. At the moment, bullion and investment metals are not taxed according to the Pennsylvania Department of Revenue.

Just like in many other states, however, gold and silver are subject to capital gains taxation when exchanged for Federal Reserve notes. House Bill 1690 has been introduced in the state since 2011 and there is hope it will rectify any remaining revenue anomaly that concerns trading of precious metals.

Local Gold and Silver Dealers in Pennsylvania

There are several coin shops in Pennsylvania but if you are interested in finding the best shops in specific cities located in Pennsylvania, check out our other local directory page:

Local coins shops in Allentown, PA
Local coin shops in Erie, PA
Local coin shops in Philadelphia, PA
Local coin shops in Pittsburgh, PA