New Jersey Tax Regulations for Precious Metals
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New Jersey Sales Tax for Precious Metals

By Gainesville Coins
Published April 23, 2020

As defined in state code, ALL items sold by Gainesville Coins are subject to state sales tax when shipped to a New Jersey address.

Our SST ID is S00114059. Certificate of Authority NJ Sales & Use Tax effective 04/22/2019

New Jersey Tax Code - Sales Tax On Precious Metals

N.J.S.A. 54:32B-8.32:
Only gold or silver in the proper form for futures contracts, and used to settle such contracts, are exempt from sales tax.Gold or silver converted to use by a purchaser IS taxable.

N.J.S.A. 54:32B-3(a)
Retail sales of gold coins and gold and silver bullion, priced according to their metal content, are considered sales of tangible personal property which are subject to sales and use tax.

N.J.S.A. 54:32B-8.32.
Sales of gold coins and gold and silver bullion are exempt from sales and use tax, ONLYwhen used as a medium of exchange

Posted In: tax