- Are Gold and Silver Recognized as Legal Tender? - No.
- Sales Tax Laws on Gold and Silver - New Jersey’s Sales and Use Tax Review Commission states that gold and silver are exempt from sales tax as they are considered “collectibles” rather than money. Otherwise, NJ has a statewide sales tax of 6.875%.
- Is Capital Gains Tax Levied on Gold and Silver? - Yes.
- Do the State’s Laws Allow for a State Bullion Depository? - No.
- Does the State Hold Gold and Silver Reserves? - No.
- Does the State Hold Physical Gold and/or Silver in Government Pension Funds? - No.
Call GSI Exchange New Jersey Operations at 1 (732) 607-5386 For All IRA or 401(k) Rollovers, to Physical Gold or Silver Coins or Bars
For Cash or Smaller Transactions Visit These Vetted-Local Gold and Silver Dealers in NJ
Colonial Valley Coins
4343 South Broad Street
Hamilton, NJ 08620
Colonial Valley coins specializes in U.S. and Canadian coins, including state quarters, mint and proof sets, modern commemorative issues, and type coins. They also carry American Eagles, gold coins, and foreign coins.
Colonial Valley offers free appraisals and buys single coins and collections. CVC carries coin collecting supplies and most modern U.S. Mint products.
Monmouth Stamp and Coin Shop
39 Monmouth Street
Red Bank, NJ 07701
Monmouth Stamp and Coin carries U.S. and world coins, currency, and stamps, along with ancient coins, postcards, sports cards, and collecting supplies. Their coin selection ranges from colonial to modern U.S. commemoratives; they also carry gold and silver coins, though the focus is on numismatic collectibles rather than bullion.
Monmouth’s 2,500 square foot showroom offers an expansive inventory suited to beginning or experienced collectors alike. Monmouth Stamp and Coin offers collecting advice and appraisals.
American Coin and Stamp
1273 Main Avenue
Clifton, NJ 07011
Founded in 1955, American Coin and Stamp is the oldest and largest coin dealer in New Jersey. They specialize in rare coins, gold, and silver, and carry American Eagles, South African Krugerrands, and Canadian Maple Leafs, along with privately minted gold and silver from Engelhard, Johnson Matthey, PAMP Suisse, and other top mints.
American Coin and Stamp also stocks bags of 90% silver US coinage, silver dollars and quarters, and other U.S. coinage. They buy scrap gold and offer verbal and certified appraisals, as well as PCGS and NGC grading submission services.
Central Jersey Rare Coins
423 West Union Ave.
Bound Brook, NJ 08805
Founded in 1981, Central Jersey Rare Coins stocks a wide array of U.S. coinage, silver dollars, rare foreign coins, paper currency, and precious metal bullion. They specialize in high-grade coins, and offer coin collecting supplies, NGC and PCGS grading submission services, and free written appraisals.
Central Jersey Rare Coins buys scrap gold, and carries gold and silver bullion in bars, rounds, American Eagles, Canadian Maple Leafs, South African Krugerrands, and 90% silver U.S. coinage.
Ridgewood Coin & Stamp
17 Chestnut Street, Suite 1
Ridgewood, NJ 07450
Ridgewood Coin & Stamp buys coins, stamps, and scrap gold from individuals. They deal in U.S. paper currency, mint and proof sets, coin and stamp collections, and gold, silver, and platinum bullion. Because their inventory comes from individuals, the selection is constantly changes. With more than four decades of coin collecting experience, the owner of Ridgewood Coin & Stamp strives to keep the shop’s prices always up-to-date with market changes.
Stone House Coin Shop
401 Park Ave
Scotch Plains, NJ 07076
Stone House Coin Shop is a family-owned New Jersey coin dealer in business for more than four decades. Though this shop has little internet presence, they are known for offering low prices on gold and silver bullion. In particular, Stone House Coin Shop caters to dealers, with wholesale-level pricing for bulk buys. They also purchase gold and silver from individuals, and offer rare and collectible coins for sale.
Local Gold and Silver Mints in NJ
Also browse the gold and silver mints local to New Jersey. Some of these mints offer retail products, while others are wholesale only.
Engelhard, established in New Jersey in 1902, was once one of the country’s best-regarded precious metal mints. Throughout the 1970s and 1980s, Engelhard minted top-quality silver and gold rounds and bars. They have since been purchased by a German corporation, and no longer produce bullion bars, though their bullion remains regarded as some of the finest quality ever produced, and typically commands a premium on the secondary market.
Engelhard minted one ounce silver rounds, as well as silver bars in 1, 10, and 100 ounce sizes, and gold bars and rounds ranging from 1 gram to 1 troy ounce. Each item carried either the Engelhard ‘E’ logo in a globe, or an image of a gold prospector.