- Are Gold and Silver Recognized as Legal Tender? - No.
- Sales Tax Laws on Gold and Silver - According to TSB-M-89 (20)S, signed into law in 1989, precious metal bullion sold for investment is exempt from state and local sales taxes. Specifically, for the exemption to apply, "the receipt or consideration given or contracted to be given for the bullion must depend only on the value of the metal content of the bullion; and if applicable, the retailer must be registered as a broker or dealer with the New York Department of State pursuant to the provisions of section 359-e of the General Business Law."
- 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 York Operations at 1 (646) 783-3142 For All IRA or 401(k) Rollovers, CD's, Money-Market or Annuity Conversions to Physical Gold or Silver Coins or Bars
For Cash or Smaller Transactions Visit These Vetted-Local Gold and Silver Dealers in NY
If you are looking for gold and silver dealer or coin shops in specific cities located in state of New York be sure to check out our other local coin shop pages:
123 West 57th Street
New York, NY 10019
Among the best high-end coin dealers in the country, Stack’s Bowers is renowned for its high-grade rare coins. Its reputation has even made it a tourist destination, though most of the coins sold here are well outside the price range of a casual collector.
Still, Stack’s draws many investors and collectors who marvel at the coins on display here. Their unique ‘ GOLD to go™ ATM’ offers smaller-sized gold and silver bullion, from five grams to one troy ounce, all purchased through a vending machine.
Bullion Trading LLC
20 West 47th Street
New York, NY 10036
Bullion Trading LLC specializes in silver and gold bullion such as rounds, bars, and coins. This dealer focuses less on rare or historical coins, and more on precious metals for investment purposes. As the largest precious metal dealer in New York, Bullion Trading LLC has a New York City showroom and also sells online and by mail. Their buy and sell prices are clearly listed on their website.
Ridge Coin and Gold Exchange
2064 East Ridge Road
Rochester, NY 14622
Founded in 1972, Ridge Coin offers both numismatic collectibles and precious metal bullion. Ridge Coin is best known for a large and frequently-changing inventory of bullion bars and coins, including American Eagles, Canadian Maple Leafs, Krugerrands, 90% silver coins, and one-ounce silver and gold bars. They offer free appraisals, and buy coins, precious metals, and jewelry from individuals.
Brigandi Coin Company
60 West 44th Street
New York, NY 10036
For more than five decades, Brigandi Coin Company on 44th Street in New York City has been known for carrying high-quality rare coins, gold and silver bullion, paper currency from around the world, and sports collectibles. This Manhattan icon offers products at every price range, and welcomes new collectors and serious investors alike.
Brigandi sells a select few products via eBay and on their website, and buy coins, precious metals, and memorabilia from individuals. Brigandi Coin Company offers appraisals and authentication services, and also assists collectors wishing to sell their collection at auction.
Local Gold and Silver Mints in NY
Also browse the gold and silver mints local to New York. Some of these mints offer retail products, while others are wholesale only.
U.S. Mint at West Point
Founded in 1937, the West Point Mint once held the largest amount of silver of any U.S. Mint facility. During the 1970s and 1980s, the West Point Mint produced pennies, quarters, and other circulating coinage, some of which bears no mint mark while others carry a “W” mint mark.
In 1983, it produced $10 gold coins commemorating the 1984 Los Angeles Olympics; this was the first legal tender gold coin produced in the U.S. since 1933. Today, the West Point Mint produces American Eagle bullion coins in gold, silver, and platinum, along with the American Buffalo gold bullion coin and other gold and silver commemorative issues.