For customers who want to buy gold locally in Chicago, there are a number of reputable coin shops that have been serving the local market for years. Buying gold locally gives the investor or collector an alternative to online purchases, and may be more preferable to individuals who want to see upfront what they are actually buying before making a payment. While local purchases limit the customer to the particular shop’s inventory, it is still a popular way to buy gold.
A way to overcome the selection limitation is to check out a few coin shops to compare the products, pricing and policies. Buying bullion in and around Chicago may require a bit of a drive, but don’t give up hope. There are numerous options when it comes to buying gold locally in Chicago, and a customer may become overwhelmed with the sheer number of options. If you are pressed for time, the following list is a good place to start.
About 10 miles east of Chicago proper sits Glen Ellyn’s premiere precious metals dealer. Gabe’s is located within the Banyan Tree Mall and specializes in rare US and foreign coins. Precious coins and other collectibles are scrutinized by the owner, a coin dealer and appraiser, with more than 40 years’ experience. While you may not be able to buy bars or bullion, Gabe’s is worth a look if you’re considering gold or silver coins for investment, gifts or collecting.
Drop by Gabe’s Coins at 485 North Main Street Glen Ellyn, IL 60137 or call at 630-469-4477.
Archie’s Coins, Jewelry & Collectibles
Archie’s opened its doors in the heart of the Chicago’s Edgebrook in 1955 and has been buying and selling precious metals, antiques and jewelry ever since. Archie’s has a wide variety of bullion (coin rounds, junk silver, .999 silver bars, 1oz./10oz. gold bars), coins (rare US gold Liberty & Indian coins, St. Gauden coins, silver cent pieces, and more) as well as authentic US Proofs and mint sets.
As you might expect in a shop opened in the 1950s, Archie’s staff have over a half-century of experience and offer appraisals on precious metals, antiques and more.
Visit Archie’s Coins at 5516 West Devon Avenue, Chicago IL 60646 or call at 773-774-1433.
Thirty miles west of Chicago is the home of Scaumburg’s favorite jewelry, antique and precious metal dealer. Jewelry Mart buys and sells watches, wedding and engagement rings, collectibles as well as precious metal as coins.
If you’re looking to pick up gold, silver or platinum and palladium, Jewelry Mart has a wide selection to choose from. Don’t overlook their collection of rare coins, including gold and silver US collectable currency, as well as mint issued proofs, sets and singles.
Visit Jewelry Mart at 757 West Gold Road Schaumburg, IL 60194 or call at 847-839-9500.
Sales Tax on Gold Purchases in Chicago
Always remember that sales tax may apply when buying precious metals, and laws vary from state to state. Thankfully, coins, medallions, bullion, as well as gold and silver currency is exempt from sales tax in Illinois. That means, customers who buy gold from local coin shops in Chicago will not have to contend with sales tax.