Broker: Gold cheaper in Michigan than Ohio - News, Weather, Sports, Toledo, OH

Broker: Gold cheaper in Michigan than Ohio

By Lauren Lowrey - bio | email 

Posted by Nick Dutton - email

TOLEDO, OH (WTOL) - As the dollar weakens, more people are turning to goal as a safe investment. And it is cheaper to buy in Michigan than Ohio.

MidAmerican Bullion and Coin's George Flanner says the demand for gold has caused prices to skyrocket. As a wealth manager, he recommends these types of investments since the economy faltered two years ago. His clients want to own gold and silver because it holds a tangible value.

Flanner began selling gold as a broker after he found out he could get better wholesale prices for his clients.

Any gold or silver more than 90 percent pure is considered under law as bullion and there is no sales tax in Michigan. However, bullion is taxed in Ohio.

"The consumer would pay that on any purchase of bullion, so they save the 6.75 percent just by driving over the line," said Flanner. "That's a $70 tax on one ounce of gold, so it could be significant savings."

Gold has been hovering around $1,100 an ounce for several months. A small 3.5 ounce box of gold pellets is worth nearly $4,000. Silver is a cheaper and trades for about $15.50 an ounce.

"As any tangible gets more expensive, you have fewer and fewer people who can afford to buy it. Silver is much more attainable…," said Flanner.

Copyright 2010 WTOL. All rights reserved.

  • Headlines from Lucas, Wood, Ottawa, Fulton & Monroe CountiesNewsMore>>

  • Glass City zombies? 'Toledo' sign seen during 'Walking Dead' season 9 preview

    Glass City zombies? 'Toledo' sign seen during 'Walking Dead' season 9 preview

    Friday, July 20 2018 12:29 PM EDT2018-07-20 16:29:48 GMT

    The Adams Street Zombie Crawl could get a LOT more crowded if a "Walking Dead" season nine trailer is accurate. A signpost that appears during the trailer shows arrows pointing to HQ, Oceanside, Alexandria, Sanctuary and ... Toledo. The season nine trailer was released at the San Diego Comic-Con on Thursday. There isn't much known about what the next season will bring, but the teaser seems to indicate that there is a new survivor settlement called Toledo. In the original...

    More >>

    The Adams Street Zombie Crawl could get a LOT more crowded if a "Walking Dead" season nine trailer is accurate. A signpost that appears during the trailer shows arrows pointing to HQ, Oceanside, Alexandria, Sanctuary and ... Toledo. The season nine trailer was released at the San Diego Comic-Con on Thursday. There isn't much known about what the next season will bring, but the teaser seems to indicate that there is a new survivor settlement called Toledo. In the original...

    More >>
  • Saddles stolen from Dusty Boots horse camp

    Saddles stolen from Dusty Boots horse camp

    Friday, July 20 2018 12:16 PM EDT2018-07-20 16:16:06 GMT
    (Source: WTOL)(Source: WTOL)
    (Source: WTOL)(Source: WTOL)

    Dusty Boots in Weston, Ohio uses hippotherapy to help riders with coordination, balance and strength through the movement of the horse.

    More >>

    Dusty Boots in Weston, Ohio uses hippotherapy to help riders with coordination, balance and strength through the movement of the horse.

    More >>
  • All city pools closed Friday

    All city pools closed Friday

    Friday, July 20 2018 11:53 AM EDT2018-07-20 15:53:09 GMT

    The city announced that all pools will be closed today due to the rain and forecast storms. 

    More >>

    The city announced that all pools will be closed today due to the rain and forecast storms. 

    More >>
Powered by Frankly