Menu

New York Tax Regulations

By Gainesville Coins
Published October 12, 2018

Orders over $1,000 shipping to New York are currently exempt from state sales tax. Otherwise, they are subject to a 4.0% sales tax plus any local taxes. Taxable items include copper, coin accessories, and processed items (value-added products). Additionally, sales tax with be assessed under the following scenarios:

  • Silver coins: if the sales price for the specific coin is greater than or equal to 140% of the silver value in the specific coin;
  • Gold coins (with 1/4 ounce or less of Gold in the specific coin): if the sales price of the specific coin is greater than or equal to 120% of the gold value in the specific coin;
  • Gold coins (with more than 1/4 ounce of Gold in the specific coin): if the sales price of the specific coin is greater than or equal to 115% of the gold value in the specific coin;
  • Platinum or Palladium coins: if the sales price for the specific coin is greater than or equal to 115% of the platinum or palladium value in the specific coin;
  • Bars, ingots, wafers or any other form in gold, silver, platinum, or palladium: if the sales price of the specific item is greater than or equal to 115% of the gold, silver, platinum, or palladium value in the specific item.
Posted In: tax