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New York is home to the largest US city, New York City, around which much of the economy of the state revolves. New York is a center for finance, manufacturing, business services, and tourism. Indeed, many consider New York to be the financial center of the world. New York also attracts more annual tourists than any other US state.
Gold and silver mining have never been abundant in New York. Today, however, given the state’s huge population, there are a number of top gold and silver dealers in New York. New York City, obviously, is home to many of the best silver and gold dealers in the state.
Are There Taxes on Buying Gold and Silver Bullion in New York?
There is an exemption for buying gold, silver, and platinum bullion in New York. The product must meet the specified criteria, and the purchase price must meet the minimum threshold of $1,000. Bullion which is considered exempt must be precious metal bullion (gold, silver, platinum, or palladium), and the value of the product must come from the metal itself, and not its form.
The product value of silver bullion coins cannot exceed 140% of the current silver spot price, 120% of the gold spot price for gold coins, and 115% of the spot price for other metals. Exempt bullion must be in the form of bullion bars, rounds, or coins. One important exception is made: coins from the Republic of South Africa are not exempted, including the famous gold Krugerrand. The law spelling out the New York sales tax exemption can be read here:
http://www.tax.ny.gov/pdf/memos/sales/m89_20s.pdf
Please note that numismatic coins, paper currency, tokens, medallions, and gold and silver bullion products which does not meet the stated criteria are all subject to the New York sales tax rate of 4%. Local taxes, such as those in New York City, can raise this rate even further. The $1,000 minimum purchase price is also prohibitive for many buyers who are looking to invest in gold and silver in New York.
CBMint is not based in New York, so residents of New York do not have to pay any sales taxes when buying bullion online from CBMint. Please feel free to Browse our Selection of tax-free bullion products. In addition, CBMint has extremely low order minimums, so tax-free gold, silver, platinum, and palladium can be purchased in small amounts.
Please note, we are not tax professionals or experts. Individuals are sometimes liable to pay local Use taxes. Contact your state and local tax authorities for all laws concerning taxes when buying bullion locally in New York.
Local Gold and Silver Dealers in New York, by City:
- New York City Coin and Bullion Dealers
- Albany Coin and Bullion Dealers
- Yonkers Coin and Bullion Dealers
- Rochester Coin and Bullion Dealers
- Buffalo Coin and Bullion Dealers
- Utica Coin and Bullion Dealers
- Syracuse Coin and Bullion Dealers
Featured Gold and Silver Dealers in New York (NY)
Listed below is a small sample of featured bullion and coin dealers in New York. If you would like to suggest any additional New York coin or bullion stores to add to this list, feel free to Contact CBMint and let us know.
Stack’s Bowers
Stack’s Bowers is, without a doubt, one of the most famous and best coin dealers in New York City, if not the entire nation. They focus on high-grade rare coins, appealing to the high-end investor. Many of their investment-grade coins are well out of the price range of most coin collectors. Many of their high-grade rare issues are so rare, the total population of that particular issue is in the single or low double digits. Rather uniquely, reminiscent of being in Dubai or Abu Dhabi, Stack’s Bowers features a gold vending machine, named “Gold to Go.” Functioning like an ATM, this vending machine allows New York customers to buy gold bars and silver bars in small sizes, such as 5 grams, 1/2 ounce, and 1 ounce of gold or silver.
123 West 57th Street
New York, NY 10019
(800) 458-4646
Brigandi Coin Company
Brigandi is among the best New York gold and silver dealers. Located in Manhattan, they offer rare and collectible coins in all price ranges, appealing to both beginning collectors and serious buyers, seeking investment-grade coins. Their expansive showroom features proof coins, mint sets, graded coins, Morgan and Peace silver dollars, rare large and small cents, nickels, and gold and silver world coins. They offer authentication and grading services, as well as coin appraisals, and are known for helping interested customers locate rare coin auctions. Brigandi Coin also buys and sells gold and silver bullion, and is known for having some of the lowest silver and gold prices in New York. American Eagles, Canadian Maple Leafs, Suisse gold bars, silver bars, and platinum coins are common constituents in their bullion product offerings.
60 West 44th Street
New York, NY 10036
(212) 869-5350
Bullion Trading, LLC
Bullion Trading, fittingly, specializes in selling and buying fine gold and silver bullion. They do not deal much in numismatic items, such as coins, tokens, and paper currency. Their customer base consists mainly of New York buyers looking to invest in silver and gold bullion. They carry silver and gold coins, bars, and rounds, from mints throughout the world. Bullion Trading is one of the largest and bets precious metals dealers in New York, and their showroom is expansive. In addition, they sell gold and silver through the mail and on their website. The Bullion Trading website also lists current gold, silver, and platinum prices.
1156 Sixth Avenue
New York, NY 10036
(212) 997-2520
Manfra, Tordella, and Brookes (MTB Coins)
For over five decades, MTB has been an industry leader, and one of the best gold and silver bullion dealers in New York City, if not the entire country. The main focus of MTB is buying and selling coins and bullion wholesale, although they do sell gold and silver bullion to the public. Their new headquarters, in the International Gem Tower in New York, features over the counter retail selling of fine gold, silver, platinum, and palladium bullion.
Manfra, Tordella & Brookes are famous for being one of the official US distributors of PAMP Suisse bullion products, including the extremely popular Lady Fortuna series of gold, silver, and platinum bullion bars. MTB sells a huge range of bullion bars in all sizes, from small, fractional gold and silver bars, up to massive 1000 ounce silver bars and 100 ounce gold bars. Being predominantly a wholesaler, their platinum, gold, and silver prices are very competitive. MTB is a member of the Numismatic Guaranty Corporation (NGC), and has a Better Business Bureau rating of A+.
50 West 47th Street #310
New York, NY 10036
(212) 981-4550
United States Mint – West Point Branch
An official branch of the United States Mint since 1988, the West Point branch is a secure location. Its address is not given to the public, and no public tours are given. At one time, the West Point branch held the highest amount of stored silver bullion of any US Mint branch. For many years, the West Point mint manufactured circulation coinage, especially pennies. Many of these coins bear no mint mark, while some are stamped with a “W” mint mark, even though, at that time, West Point was not an official US mint. It is notable that coins produced here that have no mint mark are indistinguishable from similar coins produced at the Philadelphia US Mint branch.
In 1984, the West Point branch produced a legal tender $10 gold coin, to commemorate the Los Angeles Olympic Games. This unique gold coin was the first legal tender United States gold coin since the 1933 series of US Gold Eagles. Starting in 1986, during the onset of the US Mint gold bullion program, the West Point, NY branch manufactured American Gold Eagle coins.
Today, all US Mint gold and silver bullion coins are produced at the West Point, New York branch. In addition, all US Mint commemorative gold coins, and many commemorative silver coins are also made here. Starting in 2006, the American Gold Buffalo bullion coins are also produced here. Most gold and silver bullion coins made by the West Point branch have no mint mark, though most of the commemorative silver and gold coins feature the “W” mint mark.
West Point, NY 10996
(800) USA-MINT
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