All states
NM
New Mexico Sales Tax on Bullion
What this means for you
Yes — In New Mexico, sales tax applies to bullion, coins, jewelry, and accessories — just like other goods.
Bullion treatment
Taxed like other goods
Here's how each kind of item is treated in this state. Tap a row to read the plain-English note.
| What you're buying | Sales tax? | What that means |
|---|---|---|
| Bullion Bars | Sales tax applies | Standard New Mexico sales tax applies at checkout. |
| Bullion Coins | Sales tax applies | Standard New Mexico sales tax applies at checkout. |
| Bullion Rounds | Sales tax applies | Standard New Mexico sales tax applies at checkout. |
| Legal-Tender Coins | Sales tax applies | Standard New Mexico sales tax applies at checkout. |
| Numismatic Coins | Sales tax applies | Standard New Mexico sales tax applies at checkout. |
| Jewelry | Sales tax applies | Standard New Mexico sales tax applies at checkout. |
| Industrial Precious Metal | Sales tax applies | Standard New Mexico sales tax applies at checkout. |
| Collectibles (Non-Coin) | Sales tax applies | Standard New Mexico sales tax applies at checkout. |
| Paper Currency | Sales tax applies | Standard New Mexico sales tax applies at checkout. |
| Accessories | Sales tax applies | Standard New Mexico sales tax applies at checkout. |
- What's covered by the exemption
- Nothing — New Mexico applies its gross receipts tax to bullion and coins like any other sale.
- How they decide what counts as bullion
- No bullion-specific test — gross receipts tax applies to all sales.
- What's NOT covered
- Nothing is exempt — gross receipts tax applies across the board.
Common questions about sales tax on gold and silver in New Mexico.
Is gold bullion taxable in New Mexico?
Yes. New Mexico generally applies Gross Receipts Tax (GRT) to bullion sales with no bullion-specific deduction confirmed as of 03/12/2026.
Are silver coins taxed under New Mexico GRT?
Yes. Coins are treated as taxable in New Mexico unless and until a specific deduction is enacted and implemented.
Do numismatic coins get an exemption in New Mexico?
No. Numismatic coins are listed as taxable under New Mexico’s current treatment.
Is jewelry taxable in New Mexico?
Yes. Jewelry is taxable in New Mexico.