New York Sales Tax on Gold and Silver
CHECKED 2026-10-28. NOT TAX ADVICE.
New York does not charge sales tax on gold and silver bullion bars, ingots, and coins when one invoice is over $1,000.
The exemption applies to bars, ingots, or coins of gold, silver, platinum, palladium, rhodium, ruthenium, or iridium when the invoice total is more than $1,000 and the price depends only on the metal value. Sales of $1,000 or less are taxed. Premium caps apply to coins and bars, and South African coins and processed or artistic items are excluded. A 2026 bill to repeal the exemption (S7875) died in committee, per the National Coin and Bullion Association; the final 2026-27 budget text was not confirmed.
General state sales tax rate: 4.00%. Tax Law 1115(a)(27); effective September 1, 1989. Regulation 20 NYCRR 528.29. Repeal bill S7875 reported dead June 2026 (ncbassoc.org article 266).
Where this comes from
New York State Department of Taxation and Finance: TSB-M-89(20)S, Exemption for Certain Precious Metal Bullion. Checked 2026-10-28. Local sales taxes and rules for specific items can differ, so read the source before you rely on it.
Under IRS Form 1099-B instructions, a sale of precious metals in a form and quantity that matches a CFTC-approved futures contract (for example, at least 25 gold coins of a covered type) can require the broker or dealer to report it; a single coin sale does not, and sales to the same customer within 24 hours are added together. irs.gov
General information only. This is not tax advice. Rules change and have exceptions.
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Quick answers
Does New York charge sales tax on gold and silver bullion?
New York does not charge sales tax on gold and silver bullion bars, ingots, and coins when one invoice is over $1,000. The exemption applies to bars, ingots, or coins of gold, silver, platinum, palladium, rhodium, ruthenium, or iridium when the invoice total is more than $1,000 and the price depends only on the metal value. Sales of $1,000 or less are taxed. Premium caps apply to coins and bars, and South African coins and processed or artistic items are excluded. A 2026 bill to repeal the exemption (S7875) died in committee, per the National Coin and Bullion Association; the final 2026-27 budget text was not confirmed.
Where does this New York rule come from?
New York State Department of Taxation and Finance: TSB-M-89(20)S, Exemption for Certain Precious Metal Bullion: https://www.tax.ny.gov/pdf/memos/sales/m89_20s.pdf. Lustre checked it on 2026-10-28.
Is this tax advice?
No. It is general information from the source above. Rules change and have exceptions. Check with the state tax agency or a tax professional.