Coin shops & coin dealers in Wichita Falls, TX

When you sell

No Texas state law sets ID, hold-period, or payment rules for an ordinary coin shop buying your coins or bullion bars: the state crafted-precious-metal law expressly excludes coins, bars and commemorative medallions. State rules do apply if you sell jewelry, silverware or other crafted precious metal to a registered dealer (you file a list describing the items with your certification that it is true, the dealer records your driver's license or Texas ID number and reports to police within 48 hours) or sell anything, coins included, to a licensed pawnshop (photo ID, a purchase record, and usually a 20-day hold).

Coins and bars at an ordinary coin dealer: no state hold period, because the state crafted-precious-metal definition excludes coins, bars and commemorative medallions (Occ.

When you buy

Texas sales and use tax does not apply to gold, silver, or platinum bullion (bars, ingots, plates), whatever the purchase amount. Bullion made into jewelry is taxable, and palladium is not named in the exemption.

Texas sales and use tax does not apply to sales of gold, silver, or numismatic (collector) coins, whatever the purchase amount. Coins made into jewelry or other adornment are still taxable.

Who licenses dealers

Texas has no state license for coin and bullion dealers as such (negative finding). At the state level, the Office of Consumer Credit Commissioner (OCCC) licenses pawnshops and registers crafted-precious-metal dealers (jewelry, silverware and similar items; coins, bars and commemorative medallions are excluded, but a business that buys and sells crafted precious metal must register, so a coin shop that also buys jewelry generally needs this registration unless it is a licensed pawnshop).