P.L. 2024, c. 64 has amended N.J.S.A. 54:32B-8.32 to exempt sales of qualifying investment metal bullion and investment coins starting January 1, 2025.
"Investment metal bullion" is defined as any elementary precious metal that has undergone smelting or refining processes, including gold, silver, platinum, and palladium. The value of this bullion depends on its contents rather than its form. It does not include precious metals that have been assembled, fabricated, manufactured, or processed for specific industrial, professional, aesthetic, or artistic uses.
"Investment coin" refers to numismatic coins made from gold, silver, platinum, palladium, or other metals with a fair market value of at least $1,000 per individual coin. This exemption does not cover jewelry or works of art made from coins nor commemorative medallions.
The $1,000 fair market value requirement applies only to investment coins and not to investment metal bullion.
