Garden State Gold & Coin Applauds New NJ Sales Tax Exemption on Precious Metals

BOONTON, NJ / ACCESSWIRE / September 18, 2024 - New Jersey has announced the passage of Senate Bill 721, exempting sales tax on transactions involving gold, silver, and other precious metals starting January 1, 2025. This landmark decision is significant for collectors, investors, and enthusiasts in the state.

Garden State Gold & Coin, a Boonton-based business, celebrates this development. Owner and Trading Director Matthew Eisenberg played a key role in pushing the legislation, working closely with state senators and assembly members. "This is a historic win for our industry," Eisenberg stated.

While the bill marks progress, Eisenberg pointed out that sales under $1,000 still incur a 7% tax. Garden State Gold & Coin remains dedicated to educating clients about precious metal investments, inviting all to visit their Boonton location.