New Mexico Rules of Gold

New Mexico Rules of Gold


Are Gold and Silver Recognized as Legal Tender? - No.

Sales Tax Laws on Gold and Silver - Instead of charging customers a sales tax, New Mexico charges businesses a "gross receipts tax," the rate of which may vary from 125% to 8.8675% depending on the business location within the state. Although the tax is levied on businesses, they often pass this tax onto the customer, raising the price of goods.

Is Capital Gains Tax Levied on Gold and Silver? - Yes.

Do the State's Laws Allow for a State Bullion Depository? - No.

Does the State Hold Gold and Silver Reserves? - No.

Does the State Hold Physical Gold and/or Silver in Government Pension Funds? - No.

If you are looking for gold and silver dealer or coin shops in specific cities located in state of New Mexico be sure to check out our other local coin shop pages:

Jim Coad Rare Coins

3107 Eubank NE, Suite #17

Albuquerque, NM 87111

(505) 908-3929

Founded in 1968, this Albuquerque coin dealer specializes in rare U.S. and world coins. Jim Coad Rare Coins offers appraisals, and also buys and sells postcards and jewelry. Though they have little internet presence, this shop is renowned throughout the state for offering friendly, personalized service and a unique array of coins at every price point.

ABC Coin & Stamp

3401 San Mateo NE

Albuquerque, NM 87110

(505) 304-3527

ABC Coin & Stamp strives to offer everything coin collectors need, from ancient to modern, regardless of their budget or experience level. Their inventory of more than 20,000 items includes U.S. and world coins, paper currency, ancient coins, and collecting supplies.

ABC Coin & Stamp carries medals, tokens, postcards, stamps, proof and mint sets, Confederate currency, and more. Many of their items can be purchased online.

Premier Precious Metals

855A Cerrillos Road

Santa Fe, NM 87505

(800) 557-9958

The largest precious metal shop in Santa Fe, Premier Precious Metals buys and sells gold, silver, palladium, and platinum bullion. They also carry other precious metal items such as U.S. and foreign coins, ancient coins, tokens, paper currency, and jewelry.

Premier's expansive U.S. coin inventory includes every denomination produced in U.S. history, along with commemorative issues. Many of their coins can be purchased online. Premier Precious Metals can also be found at many coin shows throughout the Southwest region.

Albuquerque Coins

3216 San Mateo Blvd NE

Albuquerque, NM 87110

(505) 881-4865

Founded more than three decades ago, Albuquerque Coins specialized in 20th century U.S. coins, and also offers an expansive selection of paper currency, estate jewelry, gold and silver bullion, and other collectibles.

Their precious metal inventory includes American Eagles, Canadian Maple Leafs, South African Krugerrands, Credit Suisse bars, generic gold and silver bars, and 90% silver U.S. coinage. Albuquerque Coins offers appraisals and buys individual items or collections.

Southwestern Gold Inc.

6909 Menaul Blvd NE

Ste F

Albuquerque, NM 87110

(505) 881-3636

Founded in 1971, Southwestern Gold Inc. is a PCGS and NGC certified coin dealer. This family-owned shop carries a wide selection of coins and precious metals, including American Eagles, Canadian Maple Leafs, and other bullion coins. They also buy gold, silver, rare coins, and jewelry from individuals, resulting in a frequently-changing inventory.

US State Quarters

PO Box 33108

Santa Fe, NM 87594

This Santa Fe-based online dealer specializes in modern U.S. quarters, especially the popular state quarter series, along with other modern commemorative coin issues from the U.S. Mint. They also offer Morgan and Peace dollars, early U.S. cents and nickels, and silver coins and bullion, along with proof and mint sets and other numismatic collectibles. Founded in 1999, offers online and phone ordering options.