Though New York is often associated with high taxes, it does not require sales tax for the sale of bullion coins, provided that the sale in question totals at least $1,000. While this tax benefit is great for investors buying bullion coins in large quantities, it does little to help those who are purchasing bullion coins in smaller amounts. If you wish to take full advantage of this tax exemption, consider saving up to make single, larger purchases over the $1,000 threshold. That said, we always recommend consulting a financial advisor when it comes to investing in bullion coins.
There are, however, some other restrictions. For example, “coins of the Republic of South Africa or bars, ingots, or coins that have been manufactured, processed, assembled, fabricated, or used for an industrial, professional, or artistic purpose” do not qualify for the sales tax exemption.
