Making Gold and Silver Purchases in New Jersey
A Mid-Atlantic state in the Northeastern area of the United States, New Jersey is bordered by the state of New York on the north and east while the Atlantic Ocean borders the state on the east and south. In addition, the state of Pennsylvania and a portion of Delaware sits on the western border of the state while the Delaware Bay sits between most of Delaware and the state.
One of the original 13 colonies prior to the start of the Revolutionary War, New Jersey is known as the most densely populated state in the U.S. while only being the 11th most populous state in the country, with just over 9 million residents. It is also listed as the third-wealthiest state by median household income and has a total area of 8,700 square miles. The capital of New Jersey is Trenton, which sits along the Delaware River.
Much of the industrial revolution in the 19th century was driven by what was known as the “Big Six” cities in New Jersey: Camden, Paterson, Newark, Trenton, Jersey City and Elizabeth. The second half of the 20th century saw rapid suburbanization in New Jersey, with the state situated between what is known as the Northeast megalopolis, with the New York City, Boston toward the north and east and Philadelphia, Baltimore and Washington, DC to the south and west.
The Dutch were the first Europeans to settle in what is now known as New Jersey and during the Revolutionary war, the state was known as “The Crossroads of the American Revolution” due to the number of battles that took place there. One of the more famous engagements involved George Washington crossing Delaware into Trenton, NJ and defeating the British-backed Hessian troops during the Battle of Trenton.
New Jersey is also known as the location of the Menlo Park laboratory where Thomas Edison created some of his more famous inventions, including the phonograph and the electric light bulb. New Jersey is also home to Princeton University, one of eight ivy league schools in the United States.
Sales Tax on Gold and Silver in New Jersey
New Jersey’s statewide sales tax is 6.875%. The Sales and Use Tax Review Commission, in 2000, indicated that a sales tax exemption on precious metals purchases "exempt[s] from tax a portion of the collectibles economy, with no policy reason appearing for preferring that portion over another."
According to some, there is disagreement with New Jersey lawmakers, stating that they fail to understand that gold and silver are money, not collectibles.
Local Gold and Silver Dealers in New JerseyIf you are looking for coin shops in specific cities located in the state of New Jersey, be sure to check out our other local directory pages:
Local coin shops in Jersey City, NJ
Local coin shops in Newark, NJ
Local coin shops in Paterson, NJ
Local coin shops in Trenton, NJ