New Jersey governor Philip D. Murphy signed into law S721, which exempts sales of investment metal bullion and certain investment coins from sales and use tax. This success marks the culmination of a dedicated campaign led by the National Coin & Bullion Association and its coalition partners.

The term “investment metal bullion” refers to objects made from precious metals like refined gold, silver, platinum, and palladium whose value is based solely on their metal content, rather than their form. It excludes metals used in industrial, artistic, or other specific applications. The term “investment coin” includes numismatic coins made from metals such as gold, silver, platinum, or even non-precious metals, with a market value of at least $1,000. It does not include jewelry, works of art, or commemorative medallions.

The new law, which goes into effect Jan. 1, 2025, exempts investment coins with a fair market value of not less than $1,000 from sales tax. This threshold was included to address concerns from the Assembly Appropriations Committee about the potential impact on sales-tax revenue, after much negotiation and careful consideration.

David Crenshaw, executive director of NCBA, praised the legislation, saying, “The passage of S721 demonstrates the positive impact of sustained advocacy and collaboration. This law benefits both consumers and the industry by removing unnecessary financial barriers, while still addressing the state’s revenue concerns.”

With the governor’s signature, New Jersey now joins a growing list of states offering similar tax exemptions.

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