Good news for coin collectors! Starting January 1, 2017, all gold, silver, platinum, and palladium coins and bullion will be exempt from Ohio sales tax. Coins Plus and other Ohio coin dealers have been fighting for this change for years now, and we are delighted to finally announce our success.   

This movement initially began in 2007 when Charlie Kepnes, Dick Frost, and David Miholer, three of our colleagues visited the state’s House of Representatives. They didn’t see much progress, however, until 2015 when Coins Plus own Brad Karoleff and other Ohio dealers testified at a public hearing before Ohio’s House Committee on Ways and Means. They discussed how this legislation would benefit not only Ohio businesses but also coin collectors and bullion investors. The meeting was successful resulting in legislation that Governor John Kasich signed into law. Thus, Ohio became the 34th state to enact a coin and bullion tax exemption.

So what exactly are the advantages of this statewide legislation? First, it ensures that precious metal investments remain in the state.  This exemption also helps rare coin dealers like Coins Plus not only compete with online businesses but also those in surrounding states. Coins Plus has always maintained an inventory of gold and silver bullion that now can be sold to Ohio investors TAX FREE! 

Celebrate this victory with us and visit any of our Cincinnati-based locations today! If you’re interested in learning more about this new legislation or our involvement in it, call us at (513) 621-1996. For information on our coin buying and selling processes, visit our website. You can also follow us on Facebook or Twitter.