Sales Tax on Bullion in New York
In New York, qualifying bullion and coin orders are tax-free if your order total is at least $1,000. Smaller orders, jewelry, and collectibles are taxed normally.
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 | Depends on the order | Tax-free if your order total is at least $1,000 and the items qualify. Smaller orders are taxed. |
| Bullion Coins | Depends on the order | Tax-free if your order total is at least $1,000 and the items qualify. Smaller orders are taxed. |
| Bullion Rounds | Depends on the order | Tax-free if your order total is at least $1,000 and the items qualify. Smaller orders are taxed. |
| Legal-Tender Coins | Depends on the order | Tax-free if your order total is at least $1,000 and the items qualify. Smaller orders are taxed. |
| Numismatic Coins | Depends on the order | Tax-free if your order total is at least $1,000 and the items qualify. Smaller orders are taxed. |
| Jewelry | Sales tax applies | Standard New York sales tax applies at checkout. |
| Industrial Precious Metal | Sales tax applies | Standard New York sales tax applies at checkout. |
| Collectibles (Non-Coin) | Sales tax applies | Standard New York sales tax applies at checkout. |
| Paper Currency | Sales tax applies | Standard New York sales tax applies at checkout. |
| Accessories | Sales tax applies | Standard New York sales tax applies at checkout. |
- What's covered by the exemption
- Investment bullion (gold, silver, platinum, palladium bars, rounds, and coins) plus qualifying legal-tender coins — when priced close to the underlying metal value.
- How they decide what counts as bullion
- Two things have to be true at the same time: (1) your single order totals $1,000 or more, AND (2) each item is priced close to its underlying metal value — not marked up for rarity, grading, or collector premium. The exact premium caps are explained in the "How New York Works" tab.
- What's NOT covered
- Rare or graded coins, high-premium collector items, jewelry, paper currency held as a collectible, fabricated/industrial precious metal, and accessories (tubes, capsules, display boxes).
New York is where we're based, so sales tax always applies to NY-destination orders. The questions below cover exactly how it works.
Do I pay NY sales tax when ordering from Bullion Trading?
Yes — if your order ships to a New York address. We're based in New York City (20 West 47th Street), so by law we collect NY sales tax on every order delivered inside the state.
Is there a way to skip sales tax in New York?
Yes. If your single order totals $1,000 or more, qualifying investment bullion and certain coins are exempt. Smaller orders, jewelry, and collector items are always taxed.
How does NY decide if a coin counts as "investment bullion"?
NY looks at the coin's premium — how much more you're paying compared to the underlying metal's market value (the "spot price"). If the premium is small, the coin counts as bullion. If it's high, NY treats it as a collectible and taxes it.
| Product | Maximum price | Worked example |
|---|---|---|
| Silver coins | Up to 140% of metal value | Silver at $30/oz: a 1 oz silver coin contains $30 of silver, so it can sell for up to $42 and still qualify. Priced higher, NY treats it as a collectible. |
| Gold coins 1/4 oz or smaller | Up to 120% of metal value | Gold at $2,300/oz: a 1/10 oz gold coin contains $230 of gold, so it can sell for up to $276 and still qualify. |
| Larger gold / platinum / palladium coins | Up to 115% of metal value | Gold at $2,300/oz: a 1 oz gold coin can sell for up to $2,645 and still qualify. |
| Bars and ingots | Up to 115% of metal value | Bars are usually priced very close to spot, so they almost always qualify. |
Source: New York State Department of Taxation and Finance, TSB-M-89(20)S. Spot prices fluctuate — your invoice will show the exact tax based on the day's pricing.
Why does the premium even matter?
The exemption is designed for true investment items — not collector pieces. A silver coin selling for ten times its silver weight isn't really an investment in silver; it's a numismatic purchase. NY taxes those like any other collectible.
What about rare, graded, or antique coins?
Those almost always sit above the premium caps, so they're taxed. If you're buying a graded coin or rare numismatic piece, expect sales tax on your order.
Why does my exact tax rate depend on my delivery address?
NY sales tax is "destination-based" — the rate combines the 4% state rate with your local county/city rate. A package to Brooklyn pays a different total rate than one to Buffalo, even though both ship from our Manhattan office.
Will I see the tax before I confirm the order?
Yes. At checkout, the exact tax amount is calculated from your delivery address and what's in your cart. That's the number we collect and remit to New York State.