Bullion sales tax · New Mexico
New Mexico sales tax on gold and silver
Is gold taxed in New Mexico?
Yes.
New Mexico's gross receipts tax applies to bullion and coins; the state offers no bullion deduction.
- Investment gold & silver
- Taxable
- Order threshold
- None
- Metals covered
- None exempt
- Jewelry
- Taxed · about 7.67%
What's taxed in New Mexico
| What you're buying | Sales tax | What it means |
|---|---|---|
| Gold and silver bars and rounds | Sales tax applies | Taxed like other goods in New Mexico. |
| Gold and silver bullion coins (Eagles, Maple Leafs, Krugerrands) | Sales tax applies | Taxed like other goods in New Mexico. |
| Platinum and palladium bullion (bars, rounds and coins) | Sales tax applies | Taxed like other goods in New Mexico. |
| Rare and graded (numismatic) coins | Sales tax applies | Taxed like other goods in New Mexico. |
| Jewelry | Sales tax applies | Taxed like other goods in New Mexico. |
| Medals, collectibles and accessories | Sales tax applies | Taxed like other goods in New Mexico. |
The rule, in plain English
New Mexico's gross receipts tax applies to bullion and coins; the state offers no bullion deduction.
What counts: None. Gross receipts tax applies to receipts from selling property in New Mexico. FYI-105 lists no precious-metal, bullion or coin deduction.
Still taxed: Everything: bullion bars, rounds, legal-tender and numismatic coins, jewelry and accessories.
What you would pay: three New Mexico examples
| Purchase delivered to New Mexico | Sales tax |
|---|---|
| Silver coins, $500 | about $38 taxed like other goods |
| Gold coins, $5,000 | about $384 taxed like other goods |
| A gold necklace, $1,000 | about $77 jewelry is taxed |
Using New Mexico's 4.88% state rate plus the average local rate, 7.67% combined (Tax Foundation, January 2026). Your city or county rate may be higher or lower.
New Mexico and its neighbors
Different rules next door: Arizona (tax-free), Colorado (tax-free), Oklahoma (tax-free) and Texas (tax-free). Tax follows the delivery address, not where you live.
Buying from Bullion Trading LLC with delivery to New Mexico
No New Mexico sales tax is added at our checkout. For questions about use tax, ask a tax professional.
Orders ship insured and discreetly packed: USPS under $1,000, FedEx with adult signature from $1,000, usually within 2–3 business days after payment clears. Bank transfer and check are our best price; card and PayPal add 5% (up to $7,500).
Popular bullion delivered to New Mexico
The large price is the check/wire price; the card/PayPal price is listed under it. Prices follow the live spot price.
Selling gold in New Mexico
Selling gold to a dealer is not a retail purchase, so no sales tax applies. A profit is a capital gain: the IRS taxes gains on gold and silver bullion as collectibles, at up to 28% when held more than a year. New Mexico taxes the gain as ordinary income (top rate 5.9% in 2026).
Dealers have to report some larger sales to the IRS on Form 1099-B; keep your purchase receipts to show your cost.
We buy bullion at our counter at 20 West 47th Street in New York: walk in with a photo ID and we pay by same-day check. How selling to us works
Local taxes
The GRT rate is location-based (state rate plus county and municipal increments) and destination-sourced for remote sellers. There is no bullion deduction at any level.
Common questions about New Mexico
Is gold taxed in New Mexico?
Yes. New Mexico's gross receipts tax applies to bullion and coins; the state offers no bullion deduction.
Is silver taxed in New Mexico?
Yes. New Mexico taxes silver bullion and coins like other goods.
Is gold jewelry taxed in New Mexico?
Yes. Jewelry is taxed like other goods in New Mexico (about 7.67% on average with local tax), even when it is made of gold, silver or platinum.
Do I pay tax when I sell gold in New Mexico?
Selling gold to a dealer is not a retail purchase, so no sales tax applies. A profit is a capital gain: the IRS taxes gains on gold and silver bullion as collectibles, at up to 28% when held more than a year. New Mexico taxes the gain as ordinary income (top rate 5.9% in 2026).
Selling to a dealer
No sales tax
A gain on the sale
Taxed by the IRS as a collectible, up to 28% when held more than a year
Sources
- N.M. Taxation and Revenue Dept., FYI-105 — FYI-105 (checked October 19, 2026)
- SB 382 (2025), not enacted — SB 382 (2025) (checked October 19, 2026)
- State and Local Sales Tax Rates, 2026 (table: State & Local Sales Tax Rates as of January 1, 2026) (Tax Foundation)
- 2026 Sales Tax Rates, Midyear Update (rates as of July 1, 2026) (Tax Foundation)
- New Mexico long-term capital gains deduction changed for 2025 (TRD reply quoted) (Intuit TurboTax Community)
- IRS Topic 409: capital gains and losses (collectibles rate)
How we research and check this guide: our method.