By Marcus Webb, Senior Editor, State Tax & Retirement Geography·Hennepin County
Minneapolis is the #1 city in Minnesota by population (413,651
residents across 168,385 households; median household income $51,480). Federal gold IRA
rules are identical here to anywhere else in the US — what changes at the state line
is the money around the metal: no sales tax on bullion at
purchase, and ordinary income rates when you take distributions.
The thresholds, sources and storage picture behind those two lines live in the gold IRA guide for Minnesota. Below: the city snapshot our
desk compiles for Minneapolis, the rated companies that serve it, and where its metals
would physically sit.
Minneapolis snapshot
Minneapolis, Minnesota — city profile
Measure
Value
Population
413,651
Households
168,385
Median household income
$51,480
County
Hennepin County
ZIP codes served
70
Land area
54 sq mi
Source: U.S. Census Bureau estimates (via our cities dataset) · checked October 24, 2026
Where Minneapolis IRA metals would sit
Metals in your IRA can't sit in a Minneapolis safe-deposit box or home safe — an
IRS-approved depository arranged by the custodian holds them, and the vault your
custodian uses decides fees and logistics. To make the geography concrete, we
measure the straight-line distance from Minneapolis to the two reference vaults we
track nationally:
Straight-line distance from Minneapolis to reference depositories
Facility
Distance
Delaware Depository (Wilmington, DE)
≈ 970 mi
Texas Bullion Depository (Leander, TX)
≈ 1,030 mi
Method: great-circle distance from city coordinates, rounded to 10 miles — an
indicator of logistics, not a quote. Minnesota's full storage picture: state guide.
Gold IRA companies serving Minneapolis — network ratings
Company
Overall
Fees
Feedback
Min. investment
Noble Gold Investments
4.1
3.5
4.5
Varies — see review
GoldStar Trust
4.0
4.0
4.0
N/A (custodian)
Augusta Precious Metals
4.0
3.0
4.5
$50,000 for cash or IRA purchases
Advantage Gold
3.9
3.5
4.0
$10,000–$25,000
Birch Gold Group
3.9
3.5
3.5
$5,000 recommended minimum
Goldco
3.9
3.5
4.0
$25,000 generally required for gold IRA…
American Hartford Gold
3.8
3.5
4.0
$10,000 for a Gold IRA
Lear Capital
3.3
3.0
3.5
$10,000 for a Gold IRA
Preserve Gold
3.2
3.0
3.5
$10,000–$25,000
Regal Assets
1.3
2.0
1.0
$5,000
Minneapolis gold IRA questions
Do I pay sales tax on gold IRA purchases in Minneapolis?
No sales tax on bullion — the rule is set at the state level. Minnesota exempts precious metal bullion — bars and rounds at least 99.9% pure gold, silver, platinum or palladium — and qualifying coins and currency from sales tax. Source: Minnesota Revenue — Nontaxable Sales, checked October 2026.
Where would metals from a Minneapolis gold IRA be stored?
Not at home: IRS rules require an approved depository arranged by your custodian. Measured from Minneapolis, the industry's reference vaults sit roughly 970 mi (Delaware Depository) and 1,030 mi (Texas Bullion Depository). The distance doesn't affect IRS approval — the vault your custodian uses decides fees and logistics.
Does Minneapolis add its own tax on IRA distributions?
Income tax is set at the state level, not by cities — with rare exceptions like New York City's resident tax, which none of our covered cities share. Minnesota taxes IRA distributions as ordinary income at progressive rates up to 9.85% — among the highest state top rates; Social Security is exempt.
City guides for 1 more Minnesota cities are in
preparation.
Important
Educational information only — not investment, tax or legal advice. Verify current state and
local tax treatment with the Minnesota revenue department before acting.
