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Making Gold and Silver Purchases in Rhode Island

Rhode Island is the smallest of the six states that comprise the New England region of the United States. The state, officially known as the State of Rhode Island and Providence Plantations is also the geographically smallest in the U.S., extending over just 1,214 square miles.

Rhode Island is surrounded by Massachusetts to the north and east, by Connecticut in the west, and the Atlantic in the south. The state capital is Providence, which is also its most populous city.

As a colony, Rhode Island was the first of the original thirteen to announce independence from the British Empire, which it did on May 4, 1776. On February 9, 1778, the state became a signatory to the Articles of Confederation, which served as the fledgling U.S. nation’s first constitution.

On May 29, 1790, it ratified the United States Constitution, drawn up at the Philadelphia Convention that took place from May 25 to September 17, 1787. The state’s official nickname is "The Ocean State." About 14 percent of its total area is made up of coves and bays.

Sales Tax on Gold and Silver in Rhode Island

In Rhode Island, commercial sales are generally subject to sales and use taxes of 7%. There are no additional taxes. The state is one of the few with a single, statewide sales tax; it is a Streamlined Sales Tax (SST) state.

Precious metal bullion, defined as “any elementary precious metal that has been put through a process of smelting or refining, including, but not limited to, gold, silver, platinum, rhodium, and chromium, and that is in a state or condition that its value depends upon its content and not upon its form” is exempt from sales and use taxes.

Local Gold and Silver Dealers in Rhode Island

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

Local coin shops in Providence, RI
Local coin shops in Warwick, RI