By Marcus Webb, Senior Editor, State Tax & Retirement Geography·Shelby County
Memphis is the #2 city in Tennessee by population (652,717
residents across 249,775 households; median household income $36,445). 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 no state income tax when you take distributions.
The thresholds, sources and storage picture behind those two lines live in the gold IRA guide for Tennessee. Below: the city snapshot our
desk compiles for Memphis, the rated companies that serve it, and where its metals
would physically sit.
Memphis snapshot
Memphis, Tennessee — city profile
Measure
Value
Population
652,717
Households
249,775
Median household income
$36,445
County
Shelby County
ZIP codes served
70
Land area
317.4 sq mi
Source: U.S. Census Bureau estimates (via our cities dataset) · checked October 24, 2026
Where Memphis IRA metals would sit
Metals in your IRA can't sit in a Memphis 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 Memphis to the two reference vaults we
track nationally:
Straight-line distance from Memphis to reference depositories
Facility
Distance
Delaware Depository (Wilmington, DE)
≈ 860 mi
Texas Bullion Depository (Leander, TX)
≈ 550 mi
Method: great-circle distance from city coordinates, rounded to 10 miles — an
indicator of logistics, not a quote. Tennessee's full storage picture: state guide.
Gold IRA companies serving Memphis — 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
Memphis gold IRA questions
Do I pay sales tax on gold IRA purchases in Memphis?
No sales tax on bullion — the rule is set at the state level. Since May 27, 2022, Tennessee exempts coins, currency and bullion valued primarily by metal content from sales and use tax — no purchase threshold; numismatic items valued beyond their metal content remain taxable. Source: TN Department of Revenue — SUT-121, checked October 2026.
Where would metals from a Memphis gold IRA be stored?
Not at home: IRS rules require an approved depository arranged by your custodian. Measured from Memphis, the industry's reference vaults sit roughly 860 mi (Delaware Depository) and 550 mi (Texas Bullion Depository). The distance doesn't affect IRS approval — the vault your custodian uses decides fees and logistics.
Does Memphis 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. Tennessee levies no state income tax on wages — the Hall income tax was fully repealed in 2021 — so IRA distributions are not taxed at the state level.
City guides for 4 more Tennessee cities are in
preparation.
Important
Educational information only — not investment, tax or legal advice. Verify current state and
local tax treatment with the Tennessee revenue department before acting.
