Recreational Gold Mining In Michigan
Recreational Gold Mining in Michigan. Its true, the beaches of Lake Superior have gold deposits in them that can be found. We have heard reports of finding 20+ colors in a single pan of gold. The gold that is found in Michigan is Placer gold that is left over from the last ice age when Michigan was covered in Glaciers. YouTube.
Grand Valley Gold And Silver
This is one of Western Michigan’s biggest precious metal dealers. Grand Valley Gold and Silver purchases all types of silver and gold, including scrap gold, jewelry, bullion, and coins. They promise to beat any written offer from another gold buyer. Grand Valley Gold and Silver has a variety of precious metal items available in their Lake Michigan Drive showroom.
4378 Lake Michigan Dr. NWGrand Rapids, MI 49534 735-4653
Welcome To Scotts Sports Cards Coins & Jewelry We Are The Leading Buyer Of Estate Jewelry In Portage As Well As The Areas Best Choice For Coins Sports Cards And Memorabilia
At Scotts Sports Cards, Coins & Jewelry, weve been buying and selling gold, silver, jewelry, coins, bullion, and sports cards for over forty years. As Southwest Michigans leading source for high-quality, affordable estate jewelry, we maintain a sizable collection of engagement rings, designer pieces, and Citizen watches. In addition to this, we regularly buy pre-owned jewelry, bullion, gold, and silver coins. (Limited service at this time. We are only buying & selling coins & bullion as well as buying jewelry. Store hours Mon-Fri 9-6 Sat 10-3 Sunday Closed Store is completely back open with a limit of 10 customers in the store at a time and following the Michigan Retailers Association Guidelines.
If youve been looking for a reputable, fair shop to buy and sell gold, silver, and other precious metals, youve come to the right place! We encourage you to visit our store, talk with our knowledgeable staff, and browse our unparalleled inventory of jewelry, coins, sports cards, and more.
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Gold Bullion Coin Mints
As mentioned above, gold bullion coins are preferred by many investors because they have the backing of central banks and federal governments. Additionally, these coins are issued by national sovereign mints and other state-owned facilities. The following are some of the most prolific issuers of gold coins:
Back Forty Mine Homepage
The Back Forty Mine is a proposed gold and zinc mine located in Menominee County in the South Central part of Michigan’s Upper Peninsula. The mine is estimated to produce 692 thousand ounces of gold, 801 million pounds of zinc, 86 million pounds of copper, 6.26 million ounces of silver, and 26 million pounds of lead during operations.
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West Michigan Jewelry Exchange
This valuable metal dealer buys all types of platinum, silver, and gold, including scrap gold, dental gold, flatware, bullion, coins, and jewelry. In their showroom, they display a selection of jewelry, as well as, gold and silver coins for sale. Since they are actively buying from individual collectors, their selection is always changing.
4364 Division Ave S
What Is A Gold Dealer
Gold dealers are trusted sources for buying gold. They may sell it in the form of coins, bullion, and even collectible pieces.
Many gold dealers are now online. They offer the ability to shop around the market, checking prices from multiple sellers, as well as how soon it can be delivered.
Gold dealers will often let you choose between receiving the gold yourself or keeping it safe in a vault, and, of course, they will buy gold as well should you decide to sell it.
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Buying Gold And Silver In Michigan
The Midwestern state of Michigan, also known as the Great Lakes State, is the only U.S. state to consist of two peninsulas. It has the longest freshwater coastline of any state in the world, and residents here are never more than six miles from a lake.
The capital city is Lansing, and Detroit is the largest city many of the states most notable coin shops are located in or near one of these cities.
Why Should I Buy Gold
Gold buying has become an important part of investment for many investors, institutions or even individuals. There are many reasons why people buy gold, but many of them point to financial reasons. There are many different ways people are buying gold and this makes it important to find one that will ensure you are not exposed too much risk or fraud.
One thing that many people try to avoid when buying gold is fraud. This is because many people who are inexperienced cannot easily differentiate between real and fake. The only way to avoid this is by buying gold from trusted sources that have been around for a long time.
Gold is a precious metal that has been used for many years as currency or for ornaments. The thing that has made gold not be mainly used for financial transactions is that the amount of gold available isnt enough. The amount of gold that is on the surface is far much more than what is being mined. The fact that gold has value as a metal makes it a better options in case of inflation or economic collapse.
Another reason why you should buy gold is because of diversification. Holding positions that are undiversified is one of the reasons why some people make a lot of losses. Gold is a good way to secure wealth without having to worry about inflation.
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Michigan State Sales Tax Laws
Michigan has started the process of freeing gold and silver from bureaucratic shackles.
According to the General Sales Tax Act, Section 205.54s, “a sale of investment coins and bullion is exempt from the tax.”
The law defines bullion as “gold, silver, or platinum in a bulk state, where its value depends on its content rather than its form, with a purity of not less than 900 parts per 1,000.” “Investment coins” is defined as “numismatic coins or other forms of money and legal tender manufactured of gold, silver, platinum, palladium, or other metal and issued by the United States government or a foreign government with a fair market value greater than the face value of the coins.”
For more information on rolling back sales tax on constitutional money,
Where To Buy Bullion
AU Precious Metals is one of Michigan’s top bullion dealers. We sell bullion at wholesale price , and we have large stock for you to choose from. It’s no surprise why AU Precious Metals is the best place to buy bullion in Michigan.
- Honest Dealings
- Professional Service You Can Trust
- Wholesale Prices
- Personal Dealings
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Michigan Capital Gains Tax
Michigan law, like most states, is chock full of draconian revenue statutes. Under current law, gold and silver are subject to capital gains taxation when exchanged for Federal Reserve notes or when used in barter transactions.
Income taxes are one major way government bureaucrats penalize holders of precious metals. If you own gold to protect against the ongoing devaluation of America’s paper currency , you may end up with a “gain” on your gold when it’s priced in dollars. Not necessarily a real gain, mind you. It’s frequently nothing more than a nominal gain — but it’s nonetheless considered income against which the government assesses a tax.
However, other state legislators across the country have started to recognize that paying taxes on nominal gains is beyond the pale. Arizona and Utah recently eliminated capital gains taxation on precious metals, and Idaho hopes to follow soon.
For more information on capital gains taxation of precious metals,
Federal Capital Gains Tax
The Federal Capital Gains Tax applies across the state of Michigan and across the United States. This is due on all profits made from the sale of precious metals, collectibles and other investments, and it applies to all forms of bullion and numismatics. The exact amount you owe depends on your income, but there is a maximum rate of 28%.
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The More Metals You Collect The More Money You Make
With the professionals at AU Precious Metal Solutions, we guarantee you will get the correct amount for your gold, silver and other precious metals. Our customer service professionals are experienced, friendly and efficient. So clean out your jewelry boxes, storage closets and more. Maybe itâs broken, doesnât fit or is just out of style. The more you collect to sell, the more money you make!
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Diemer’s Coins Jewelry & Collectibles
This coin shop is known for their high-quality coins and knowledgeable staff. Diemer’s Coins, Jewelry & Collectibles Is owned and operated by lifelong coin enthusiast, Dan Diemer. Diemer’s Coins, Jewelry & Collectibles offers foreign and U.S. coins, specializing in rare and key date U.S. coinage that can help collectors fill the gaps in their collection. They buy currency, bullion, and coins from individuals. This coin shop is known for their fair pricing.
4982 Plainfield Ave NE 365-9663
Gold And Silver Recognized As Money In Michigan
The United States Constitution states in Article I, Section 10, “No state shall…make anything Thing but gold and silver Coin a Tender in Payment of Debts.”
Legislative acts that take steps towards this constitutional requirement are slowly gaining steam. Utah and Oklahoma are leaders in this field, declaring gold and silver as money within their states.
Unfortunately, Michigan has not taken any steps to reaffirm its constitutional duty to treat gold and silver coins as tender for payment of debts as Oklahoma and Utah did with the recent passage of SB 862 and HB 157, respectively.
Oklahomas SB 862 reads, in part, gold and silver coins issued by the United States government are legal tender in the State of Oklahoma. No person may compel another person to tender or accept gold or silver coins that are issued by the United States government, except as agreed upon by contract.
Utahs HB 157 reads, in part, except as expressly provided by contract, a person may not compel any other person to tender or accept legal tender.
The phrase, except as agreed upon by contract, has significant ramifications. This wording reaffirms the courts ability, and constitutional responsibility according to Article I, Section 10, to require specific performance when enforcing such contracts. If voluntary parties agree to be paid, or to pay, in gold and silver coin, the Oklahoma courts may not substitute any other thing, e.g. Federal Reserve Notes, as payment.
For more information, .
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Buying Silver Bars And Coins As Investment
Silver has always produced a greater percentage increase during precious metals bull markets. In some precious metals bull markets, silver has tripled in price while gold has doubled. In some moves, silver rose four times while gold doubled in price. Additionally, silver has more industrial applications than gold does, with more uses being developed.
Industrial uses provide an underpinning to the price of silver. So great is the industrial demand for silver that mine production and secondary recovery have fallen short of industrial demand since 1990. Some analysts say that supply will fall far short of meeting demand over the next decade, and that much higher silver prices will be the result.
Best Place To Buy Gold
Buying gold online is a good idea if you do not have time to go from store to store looking for what you want. It also gives you the chance to look at several dealers and their products so that you can get the best price possible. Like we mentioned above, Kitco, Monex, and JM Bullion are all great online dealers to check out.
When you are ready to buy gold, it is important to remember a few things. First, always make sure you are buying from a reputable dealer. Second, be sure to understand the product that you are buying. Gold can come in many different forms, so make sure you know what you are getting before you purchase. Finally, don’t buy more gold than you can afford. Gold is a valuable commodity and should be treated as such.
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Westland Jewelry & Exchange
Westland Jewelry specializes in precious metals, buying and selling a wide variety of jewelry, bullion, and coins. Because they actively buy from individuals, the inventory is constantly changing.
They deal in US and foreign coins, mint and proof sets, coin collections, and gold and silver bullion. Westland Jewelry & Exchange also offers trade and pawn services.
28962 Warren Rd.Westland, MI 48185 522-1993
Thank you for reading our guide to gold and silver buying in Michigan. If you know of any other coin or bullion shops in MI, please contact us so we can update our directory.
Rare Coins Of Michigan
Rare Coins of Michigan was founded in 1971, and specializes in various numismatic collectibles, such as U.S. paper currency and foreign and U.S. coins. The company also deals in silver and gold coins, bars, rounds, and other precious metal items. A 24-hour quote line is offered by Rare Coins at 751-8966, for individuals in the Detroit area who are looking to sell their precious metals and coins.
751-8887Warren, MI 48093
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Is Investing In Gold A Good Idea
While they’re popular, stocks and crypto are some of the most volatile investments you can make.
That’s where gold comes in. Here are a few reasons why you might want to consider investing in gold.
How much unmined gold is left?
David Finkelstein Rare Coins
DJF Coins is based in Detroit and is an online dealer. Owner and founder David Finkelstein has almost forty years of numismatic experience. He is a member of ANA, NGC, PCGS and many other collection organization. Mr.Finkelstein offers a varied and rare selection of certified and raw U.S. coins, and specializes in Lincoln and Indian sets, key date and rare coins, 90% and 40% silver U.S. coins, errors and varieties, and ANACS, NGC and PCGS certified coins.
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Local Coin Shows & Conventions
One of the most popular hobbies in the world, coin collecting, is highly popular in the United States. If you are thinking about visiting Michigan, make sure to attend at least a coin show or coin convention which is listed below. Take a look at the impressive numismatic collections showcased by Michigan dealers and the ones from other neighboring states. These prestigious numismatic events also offer you free appraisals and various educational programs.
Gold Panning Spots In Michigan
Gold Panning Spots in Michigan
Pack your gold pan when vacationing in Michigan, and you just might come home with a little gold in your pocket. The Great Lakes State allows recreational panning on its state and federal lands with no permits needed and just a few restrictions.
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Where To Find Gold A State
Gold has been discovered in nearly every state in the U.S. The famous gold areas of Alaska, California, and many of the western states still produce lots of gold, and even many of the states across the Midwest and east coast have gold that can be recovered by prospecting. This state by state guide will help you get started on your adventure!
S Of Investing In Gold
Collecting scrap. Many people in Michigan start out in gold investing by collecting gold scrap. This method involves very low risk with a potential of high return. Its an ideal way to get started, especially if your goal is to invest for a rainy day.This method is done by asking friends and family members if they have gold they are looking to get rid of. Another method is to advertise in Coldwater for those who want to sell their gold items. Be sure to watch gold auctions, and make yourself known to pawn shops and similar businesses in Coldwater so they will call you when they encounter those who wish to sell gold or another precious metal that they are not interested in keeping any longer
Buy gold bullion. If you are looking to make a long-term investment in gold, bullion might be for you. Bullion means the item is valued based primarily on the gold it is made from. Central banks around the world buy gold as a hedge against economic instability. In periods of high inflation the value of gold in that local currency tends to rise over time. When the price of gold rises with inflation it is functioning as an excellent investment, perhaps offsetting losses taken elsewhere in your portfolio.
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