New York City Gold Shops

In New York gold and silver coins fall under the category of “precious metal bullion.” As outlined by the New York State Department of Taxation and Finance this means that some sales of gold and silver coins, ingots and bars are subject to certain sales tax exemptions.

First off, for a gold or silver item to be exempt it cannot be a coin from the Republic of South Africa or be manufactured, processed, assembled, fabricated or used for any industrial, professional or artistic purposes. Basically this leaves only gold and silver used for the purpose of investment.

As outlined in the same department’s Exemption for Certain Precious Metal Bullion guidelines an investment in gold or silver is defined by any single total sale exceeding $1,000 and the purchaser must keep that bullion in the same state as when purchased; meaning one cannot manufacture, process, fabricate or assemble the product.

Finally, the selling price of the item cannot exceed, by a determined percentage, the metal value of the item in question. For silver coins the marked percentage is 140%, for gold coins weighing a quarter ounce or less it is 120% and in respect to all other coins it is 115%. While these percentages are not subject to change, with the fluctuation of the price of precious metals, selling prices and tax exemption may.

Bullion Trading LLC

Bullion TradingBullion Trading LLC is one of New York City’s leading and most reliable gold distributors. In business since 1965, they have nearly fifty years in the gold and silver business. They offer a variety of different tools for buying gold and silver coins. Their website is extremely easy to use for those not familiar with the gold buying process.

They also cater to a range of buyers, from large manufactures to anyone looking to invest in gold and silver coinage. They offer fairly competitive prices for the New York area. One can expect to pay around $1,700 for a one-ounce American Gold Eagle. This compared to JM Bullion, a leading online gold and silver distributer, who offers the same coin nearly $30 dollars cheaper can lead the customer to feel like they are over paying.

On the contrary, the New York Mint issues newly minted gold Eagles from $2,000 to $2,100. Bullion Trading LLC is saving its customers approximately $300 dollars and this is again just one of the many gold and silver products they sell.

Apart from the more common coins such as US Eagles, US Buffalo and Canadian Maple Leafs they stock a variety of coins from different countries. These include Iranian Pahlavi, Netherland 10 Guilders and Hungarian Koronas.  Bullion Trading LLC is located at 1156 6th Avenue, New York, NY 10036 and their phone number is (212) 997-2520.

Manfra, Tordella and Brookes, Inc.

mtbMTB is a gold and silver firm in New York that has operated since the 1950’s. They offer a variety of different coinage in gold and silver. Their most common product is the American gold eagle which they offer in one tenth, quarter, half and whole ounces. They also have the Austrian philharmonic in the same weights.

They stock Canadian Maple Leafs in all the same weights with the addition of a one twentieth coin. Finally, in terms of their popular items, they offer both one Austrian Ducats and the larger four Austrian Ducats. In addition, they stock Chinese Pandas, Gibraltar Cherub Angels, Isle of Man Cats, British Sovereigns, Mexican Gold Pesos, South African Krugerrand, Australian Kangaroo, Lunar Horses and Lunar Dragons.

The only gold bars they offer are the Credit Suisse from a kilogram down to one gram and the Pamp Suisse Fortuna in one-ounce bars.  They also deal in a range of silver coins and provide platinum products as well. Where others bring technology and comprehensive online access to the table, MTB provides its customers with personalized service and a high quality product. They are located at 90 Broad Street, New York, NY 10004 and their phone number is (212) 981-4550.

Brigandi Coins and Collectables

brigandiIn 1959 Brigandi Coins and Collectables opened for business. For about 50 years they have prided themselves on offering their customers the same great quality and service their owner Donald Brigandi founded upon. Aside from a large variety of sports collectables and memorabilia, Brigandi sells many different coinage and rounds from both here in the US and abroad.

In addition to American gold eagles and buffalo they are regularly stocked with Russian gold Rubles, German Marcs, Swiss gold Francs, French Roosters, Austrian Ducats and many more. This gives customers a chance to diversify and expand their coin collections much like Donald in the humble beginnings of his company. Brigandi Coins also offer a large variety of products in silver ranging from coins and rounds to bars.

As far as rare coins and foreign coinage, Brigandi Coins stocks an extremely wide selection. Among this collection of rare coins, Brigandi further divides their stock into what they refer to as Brigandi quality coins.

These are items that they deem a cut above the rest in terms of quality and condition. A few stand-out items in this category is a 1976 US quarter listed for $18,500 and a 1836 Gobrecht dollar going for $23,500. Brigandi Coins and Collectables is located at 60 West 44th street New York, NY 10036 and their telephone number is (212) 869-5350