Buying Gold and Silver in New York State

Being the fourth most populous state in the US with an estimated population of 19.8 million residents, New York is one of the original thirteen colonies which formed the United States. Its capital is Albany, but its largest city is New York. Both the state and its major city were named for the 17th century Duke of York and have been inhabited by Native Americans for several hundred years before Europeans came to this territory. 

The state is the home to some of the world-famous tourist attractions: Central Park, Times Square, Statue of Liberty, and the Niagara Falls which is shared with Ontario. New York has also a vast educational infrastructure that includes around 200 universities and colleges and is considered a global node of entrepreneurship, creativity, and environmental sustainability. 

New York is the home of the country’s largest city - New York City - which is the Nation’s financial capital. NYC has a population of 8.5 million people - almost half of the entire population of the state - making it a top location for precious metal dealers and investors. It is also one of the major tourist attractions of the US, which only encourages the gold and silver sales and investments within this area.

Gold and Silver Dealers in New York State, by City:

Please check our precious metals dealers directory page to find a local coin shop in your city.

Local coin shows in New York

If you consider yourself a passionate numismatist and plan to visit New York, you should definitely attend a local coin show, coin convention or many of the numismatic auctions that regularly take place in the region. Browse the list below and find the one that fits your availability.

Most popular coin shows:

Melville Coin, Stamp & Collectible Show - Catapona Engineering Hall, 585 Broadhollow Road, Melville NY 11747, 516-557-7096

A free admission show, which takes place almost every second Sunday (except holidays) in the same location since 1964. Open from 8:00 AM – 2:00 PM, the show is a great place to buy, sell or trade coins, stamps, currency, jewelry or other gold & silver items.

New York International Numismatic Convention - $20 Admission – Three-day pass - Waldorf Astoria Hotel 301 Park Avenue, New York City, New York, 10022, 414-807-0116

The largest and most prestigious numismatic show among the international coin communities. Over 115 leading specialists in ancient and world numismatics will be part of this convention held at the 18th floor of Waldorf Astoria. The event will also host the Heritage Auction, Classical Numismatic Group auction, Gemini Numismatic Auctions, LLC auction and several other renowned auctions. Auction sessions will contribute with their expertise during 8 consecutive days. The convention also included a wide range of educational programs such as the Special Young Numismatists Program.

Wall Street Collectors Bourse - Museum of American Finance, 48 Wall Street, NY 10005, 203-292-6819

This is an Admission Free Show, including the Museum Exhibits. Various Numismatic Dealers will showcase their coin collections, as well as stock certificates, bank notes, and many other precious collectible items. Enjoy the Bourse in the historic gallery of the museum to see unique presentations and get free appraisals of your treasures offered by bourse dealers.

The Buffalo Numismatic Association Monthly Coin Show and Bourse - Admission Free - The Knights of Columbus 2735 Union Rd. Cheektowaga, New York 14227

The BNA monthly coin show is one of the largest in New York and is held on the 3rd Sunday of each month, except July and August. The show is open from 10:00 am to 3:00 pm and includes over 50 Dealer Tables, auctions and young numismatists show.

Breaking Down Bullion Sales Tax in New York

In New York, silver, gold, platinum and palladium bullion is taxable according to the state law with a min. 4% and max. 8.875% bullion sales tax. However, there is an exemption from the taxation of precious metal bullion if the purchase transaction is equal or more than $1,000 and the bullion refers to bars, coin or ingots purchased for investment purposes. However, this exemption doesn’t apply in case if the dealer is not registered with the New York Department of State or the bullion price depends on other factors besides its intrinsic value. It also doesn’t apply to coins produced by the Republic of South Africa (e.g. South African Krugerrands). In addition, the bullion price should not surpass 120% (gold tax applies on gold less than ¼ oz.), 140% (silver) and 115% (other precious metal) spot price in order to qualify for the exemption. Gold and silver bullion products, numismatic coins, and medallions that do not meet the above exemption criteria are subject to taxation.

When buying from Bullion Exchanges, the residents of New York do not have to pay any sales taxes, as Bullion Exchanges is not based in New York. Please take your time to browse through our tax-free gold and silver products. However, please note that there may be a local use tax that an individual might have to pay so it is advisable to check with a tax professional before making a purchase.

Online coin dealers in New York

You prefer to order your bullion by post or get your gold by mail? You can choose from any of the following online coin dealers or browse our Bullion Exchanges coin webstore:

  • Bullion Exchanges - a trusted precious metals dealer, founded in 2012 and based in the heart of NY
  • Bullion Shark – a relatively new coin dealer, established in 2014
  • Coin Exchange NY – a well-established precious metal dealer
  • IGR Halach Gold – the US division of the Istanbul Gold Refinery
  • International Bullion Exchange – an international coin dealer based in NY
  • Jack Hunt Gold and Silver – a renowned coin dealer, founded in 1968
  • SchiffGold – the rebranded Euro Pacific Precious Metals, operated by Peter Schiff

Local precious metals companies in New York

Bullion Exchanges
Bullion Exchanges is a leading nationwide precious metal and coin dealer located in the heart of New York City - the famous Diamond District Area.  Having a vast hands-on experience of selling renowned and exclusive precious metals products made of gold, silver, platinum, palladium, as well as newly emerging rhodium, the company offers a spectacular selection of coins, bars, bullion, numismatic items, and various other collectibles struck by the prominent mints from all over the world. Bullion Exchanges also offers a wonderful array of NGC and PCGS certified coins, unique custom-made silver bars and figurines, and high-class assistance in setting up Precious Metals IRA Accounts.

Manfra, Tordella & Brookes, Inc.
Manfra, Tordella & Brookes, also known as MTB, was established in 1957 and provides one of the widest collection of international bullion bars and legal tender coins. The company is a leading dealer in U.S. rare gold coins and other high-value collectible gold coins. Manfra, Tordella & Brookes has been a numismatic dealer for over 50 years, is member of all major numismatic associations, such as ANA or the Professional Numismatists Guild, and is authorized by the renowned PCGS and NGC.

West Point Branch of the US Mint
The West Point facility of the US Mint was originally erected in 1937 to serve as a storage facility for the mint’s silver bullion. For this reason, the bullion depository was nicknamed “The Fort Knox of Silver”. During 1973 and 1986, the West Point minted only cents, but from 1980 it began striking gold medallions. West Point Bullion Depository gained the official mint status in 1988, and today it also produces, packages and ships silver and gold commemorative coins, including the renowned American Eagle Bullion Coins. The location of the West Point branch is highly secured, therefore, the branch doesn’t allow any public tours.

Bullion Depositories

Manfra, Tordella & Brookes, Inc.
Besides being a leading NYC coin dealer, MTB is also a COMEX Authorized Bullion Depository offering gold storage, as well as other bullion depository services to individuals and institutions. If you are looking for where to store gold, silver, or any other precious metal, MTB guarantees that the bullion stored at its depository will be fully segregated, safely secured and protected in state-of-the-art locations and insured by top insurance carriers. MTB’s clients receive periodic statements about their stored precious metals, competitive pricing and the most professional and experienced staff in the industry.

Smelters & Refineries

Since precious metals are limited resources, many investors and collectors often think about melting gold or refining silver. In NYC, silver and gold smelting can be performed at Bullion Exchanges or any gold and silver refinery listed below. You can select a precious metals refinery from the list and sell scrap gold or silver for smelting, or you can contact us to get the best offer:

Bullion Exchanges 30 West 47th Street, Store 1, NY 10036 (212)-354-1517
Abbey Metal Corp 59 Grand St, Moonachie, NJ 07074 (201) 438-0330
Armena Refinery USA 3916 23rd St, Long Island City, NY 11101 (718) 606-0060
Doral Refining Corp 533 Atlantic Ave, Freeport, NY 11520 (516) 223-3684
Express Metal Refining 2 W 47th St # 804A, New York, NY 10036 (212) 302-6014
Federal Refining Inc 7 Commercial St, Hicksville, NY 11801 (516) 932-4653
Gold Trading Express Corp 71 W 47th St # 701, New York, NY 10036 (212) 655-9585
Precious Trade Inc 36 W 44th St Ste 1316, New York, NY 10036 (212) 221-7937
Ross Metals 54 W 47th Street, New York, NY 10036 (212) 869-1407
Scott Precious Metals 250 Green St, Brooklyn, NY 11222 (718) 389-7565
S O Accurate Refining 4540 51st St, Woodside, NY 11377 (718) 899-7790
Stieglitz, Steven 48 W 48th St # 1111, New York, NY 10036 (212) 819-0856
Universal Gold Silver Refining Inc 33 W 47th St, New York, NY 10036 (212) 944-9004