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It started a new economy. The location and discovery of gold deposits all throughout the western territories of the United States started a population expansion which has never been matched in our countries long history. In the late 1800s, city folk from the East, all hopped on their wagons and headed west. The great unknown beckoned, and the sense of adventure was in the air. Large groups of settlers made their way west of the Mississippi, looking for the ideal spot to call home. Many found it near locations where gold was discovered. Towns were built, business developed, and explorers drawn to the lure of finding color, the gold in the hills. The country had been through a grueling Civil war, almost tearing the very fabric of the nation apart, and now the union was being held together by the very shakiest of truces. In order to get out from under the constant battling and politicking in the East, many residents packed up all their belongings and travelled towards the sun, settling in the area which would eventually become Arizona.
In the fields of Arizona, farms were erected, cattle rose, and the scrub land cultivated. In the towns, bars and brothels were constructed to feed the unregulated desires of the people, especially the cowboys. In the hills, little flecks of color were discovered, bringing a whole new way of life to the arid land of Arizona. This sense of discovery and exploration still pervade the residents of the state. Gold also holds a special place amongst those who can look back generations to their ancestors who first landed in the state. This connection to precious metals, including gold and silver, has led to a number of reputable dealers populating the main streets of the local cities like Phoenix, Scottsdale, and Flagstaff.
Conducting business in the United States invariably leads to the payment of taxes. Across the country, if you make a purchase of any product you may have to pay sales and use tax to the municipalities governing your area. In some states, the purchase of gold has an attached sales tax. Arizona does not. There is absolutely no sales tax for the purchase of precious metals in the state of Arizona, and last check there were no local sales taxes levied for these transactions in the cities of Arizona. It is always prudent to check your local city or county to see if they have passed a sales tax for precious metals.
According to Arizona law, www.azleg.state.az.us/ars/42/05061.htm, the sale of all precious metals and bullion associated with those metals is exempt from sales tax. Precious metals include gold and silver. In addition, any product made from metal used as money, is also exempt from sales tax when bought and sold in Arizona. This ease of restrictions on the markets of gold and silver bullion has made Arizona a very attractive place for all precious metal dealers. It allows those who wish to make a smart investment, do so without any worry of expense or fees.
Golden Eagle Coins, being an out of state retailer, does NOT have to charge sales tax to Arizona residents. Browse our selection of tax-free gold and silver products. Please take note that we are not experts on tax issues, and you may be liable to pay local Use tax. Please contact your local tax professional for more information.