What Are the Laws Regarding the Sale of Bullion Coins in New York?

Ever wanted to know what the laws are for the sale of bullion coins in NY? Get up-to-date information and reliable answers to your bullion and precious metals related questions here at ModernCoinMart's Complete Bullion Resource Center.

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.

©2024 ModernCoinMart.com (MCM), is a retail distributor of coin and currency issues and is not affiliated with the U.S. government. The collectible coin market is unregulated, highly speculative and involves risk. MCM MAKES NO WARRANTIES, REPRESENTATIONS, OR PROMISES AS TO ITS PRODUCTS EXCEPT THOSE SET FORTH IN ITS TERMS AND CONDITIONS, AND NO IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS ARE MADE. Prices, facts, figures and populations deemed accurate as of the date of publication but may change significantly over time. All purchases are expressly conditioned upon your acceptance of our Terms and Conditions; to decline, return your purchase pursuant to our Return Policy. © All rights reserved.
    Your Cart
    Your cart is emptyReturn to Shop