Rhode Island Rules of Gold

Rhode Island Rules of Gold


Are Gold and Silver Recognized as Legal Tender? - No.

Sales Tax Laws on Gold and Silver - The sale, storage, use, and other consumption of precious metal bullion is exempt from sales tax according to 44-18-30.

Is Capital Gains Tax Levied on Gold and Silver? - Yes.

Do the State's Laws Allow for a State Bullion Depository? - No.

Does the State Hold Gold and Silver Reserves? - No.

Does the State Hold Physical Gold and/or Silver in Government Pension Funds? - No.

If you are looking for gold and silver dealer or coin shops in specific cities located in state of Rhode Island be sure to check out our other local coin shop pages:

Michael Gerard Jewelry

1245 Main Street

West Warwick, RI 02893

(401) 822-4150

Although primarily a jewelry dealer, Michael Gerard also carries a wide selection of coins and bullion. This shop offers proof and mint sets, rare coins, and bullion in gold, silver, and platinum. In particular, the shop carries a wide range of American Eagle bullion coins. They also buy and sell precious metals, diamonds, jewelry, and coins.

New England Coin Exchange

1053 Park Avenue

Cranston, RI 02910

(401) 339-2934

New England Coin Exchange carries a complete array of U.S., foreign, and ancient coins. For more than 30 years, this family-owned shop has catered to coin collectors with a wide selection of high-grade coins. New England Coin Exchange offers free written appraisals and identification services for U.S. and foreign coins.

As a PCGS and NGC authorized dealer, they offer grading submission services. They also buy coins and offer auction consignment services. Some of their coins can be found on eBay, though most are available only in their Cranston coin showroom.

Heritage Gun and Coins

250 Cowesett Ave.

West Warwick, RI 02893

(401) 826-0000

Heritage Gun and Coins carries a wide array of coins and other precious metals. They purchase single coins or collections, and will also take such items as a trade for firearm purchases.

They deal in all U.S. and foreign coins and currency, as well as gold and silver bars. Heritage Gun and Coins conducts free appraisals, and offers a layaway program on many of their items. There are two locations in Rhode Island, one in Warwick and one in West Warwick.

Arlington Coin

140 Gansett Avenue

Cranston, RI 02910

(401) 942-3188

Located in Warwick, Arlington Coin specializes in precious metals. They buy and sell all types of gold and silver coins and scrap. They also carry Franklin Mint silver rounds, silver bullion bars, paper currency, silver dollars, and U.S. coinage such as Indian pennies and half dollars.

Arlington Coin also deals in jewelry. This family-run coin shop has been open for more than three decades.