TENNESSEE
RULES OF GOLD
Are Gold and Silver Recognized as Legal Tender? - No.
Sales Tax Laws on Gold and Silver - Currently two bills introduced in 2017 --Senate Bill 350 and House Bill 342--would exempt sales of gold, silver, platinum, and palladium coins and bullion from sales and use taxation. The bills have yet to be passed.
Is Capital Gains Tax Levied on Gold and Silver? - Yes.
Do the State's Laws Allow for a State Bullion Depository? - Yes. House Joint Resolution 516 signed into law in 2016 supports "the safekeeping, storage, and security of of gold and other precious metals in the form of bullion and coins in a Tennessee bullion depository or other such similar facility."
Does the State Hold Gold and Silver Reserves? - No, but House Bill 0777 requiring the state treasurer to invest 40% of its rainy day funds in gold and other precious metals bullion has been introduced in 2017 and has yet to be passed.
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 Tennessee be sure to check out our other local coin shop pages:
Mid-South Coin Co Inc
3894 Park Ave.
Memphis, TN 38111
Founded in 1979, Mid South Coin has been in the same Memphis location for more than three decades. They believe that customers should be informed about the items they are purchasing, whether collectible coins or bullion.
Mid-South Coin Co specializes in historic U.S. coins, and also carries a wide array of U.S. and foreign coins, mint and proof sets, rare graded coins, and gold and silver bullion. They also carry paper currency, tokens, and other numismatic collectibles. Most of their coins are PCGS, NGC, or ANACS certified, and many of them can be purchased online.
The Coin Purse
4117 Hillsboro Pike
Nashville, TN 37215
The Coin Purse, founded in 1968, caters to novice and experienced coin collectors alike. As the oldest and biggest Nashville coin dealer, they buy and sell U.S. and foreign coins, proof and mint sets, paper currency, and gold and silver bullion.
The selection includes Gold American Eagles, Morgan and Peace silver dollars, state quarters, and many other coins. Many of their coins are PCGS, NGC, or ANACS certified. The Coin Purse offers appraisals buys precious metals including gold and silver bullion, coins, jewelry, and other items.
Nashville Coin Gallery
500 Wilson Pike Circle, Ste. 227
Brentwood, TN 37027
Nashville Coin Gallery specializes in gold and silver coins such as 40% and 90% silver US coinage, Silver Eagles, Morgan and Peace silver dollars, Gold Maple Leafs, and privately minted gold bars. Nashville Coin Gallery also buys coins, paper currency, historical memorabilia, scrap gold, and other collectibles.
Many of their products can be purchased directly from their website. They also offer automatic price alerts and an automated buying system. Customers paying via bank wire receive a 2% discount; those buying more than 50 ounces of the same product receive a price break.
Nashville Coin and Currency
7003 Chadwick Drive, Suite 154
Brentwood, TN 37027
Nashville Coin and Currency specializes in rare coins, offering a wide selection of U.S. and foreign, graded and raw coins. For more than three decades, they have bought and sold nearly every type of collectible coin, paper currency, and precious metal bullion imaginable.
They carry a wide range of American Eagles, Krugerrands, Chinese Pandas, and Canadian Maple Leafs, as well as privately minted gold and silver bars. Nashville Coin and Currency offers appraisals, and is a PCGS and NGC authorized dealer.
Smyrna Coin
1410 Kensington Square Ct #102
Murfreesboro, TN 37130
Smyrna Coin offers a mix of precious metal bullion and rare coins, with a particularly large selection of silver art bars and rounds intended for gift-giving purposes. They offer a wide range of NGC graded and certified U.S. coins, American Silver Eagles, gold and silver coins, pre-1964 U.S. silver, modern commemorative quarters, mint and proof sets, silver rounds, and more. Many of their items can be purchased online.
Kit's Rare Coins
7600 Oak Ridge Hwy,
Knoxville, TN 37931
Kit's Rare Coins has 40 years of experience buying, selling, and appraising rare coins. They specialize in rare coins for potential buyers and collectors. They buy and sell U.S. and foreign coins, paper currency, diamonds, and scrap gold and silver. They offer consignment services, as well as PCGS and NGC grading services. Their coin selection includes early and 20th century U.S. coins, with a particularly wide array of Morgan and Peace silver dollars. Note that the shop is open by appointment only.