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Stefan Gleason: Nearly all taxes on gold and silver purchases eliminated in New Jersey
By Stefan Gleason
Money Metals Exchange, Eagle, Idaho
Wednesday, January 1, 2025
Today, January 1st, New Jersey Senate Bill 721 went into effect -- ending sales taxes on virtually all purchases of gold, silver, platinum, and palladium.
This sales tax exemption was enacted thanks to Money Metals' in-house public policy project advocating for laws that protect precious metals investors, the Sound Money Defense League -- as well as Money Metals' customers in New Jersey who contacted their legislators during key moments, purchases of precious metals are now tax-free statewide, with some restrictions.
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The only kinds of things that still get taxed are high-premium coins, such as proof 1/10th-ounce American Gold Eagles and similar items that are sold for less than $1,000.
Money Metals worked for multiple years to successfully remove this tax imposed on Garden State investors. Only five states still fully tax precious metals purchases: Maine, New Mexico, Vermont, Hawaii, and Kentucky.
We intend to double our efforts in these states to eliminate the scourge of sales taxation from the country entirely.
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GATA is grateful to these companies for their recent support:
Apollo Silver Corp.
Barksdale Resources
Dolly Varden Silver Corp.
Dryden Gold Corp.
Group Eleven Resources
Guanajuato Silver
IBK Capital Corp.
Independent Trading Group
Mining Discovery
Power Nickel
The National Investor
The Prospector
Western Alaska Minerals
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Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon:
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