New Jersey eliminates sales tax on gold and silver purchases over $1,000 starting January 2025

I've been paying hundreds of dollars every year in sales tax on my silver and gold purchases - that's an added 6.625% 'premium' over and above the one added by dealers. I'll definitely be stepping up my larger purchases, now that the tax burden has been lifted. Wishing everyone a happy, healthy new year in 2025!

if interested, here is the complete article discussing the pros and cons of the new legislation (a 'poor tax' is still being levied on small buyers):
https://bullionexchanges.com/blog/new-jersey-eliminates-sales-tax-on-gold-and-silver-bullion

 

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It is nice when tax is eliminated for coins (although the above $1k threshold for tax-free does hurt the beginners and small buyers, of whom there are plenty).

Also be alert with eBay as they can take a while to implement these sales tax rules (meaning an eBay purchase could still be taxed when it should not be).

 

So New Jersey decided to join the Union. Good for them.