New York City is home to dozens of coin shops. With so many coin sellers, it can be difficult for investors and collectors to know who to trust with their investment. Whether you are looking for a coin shop while vacationing in the Big Apple, or are a NYC native, always remember that trust and reputation are critical when selecting a coin shop.
Within the state of New York, there is a 8.875% sales tax. This applies to coin and bullion sales, except for purchases totaling more than $1,000 where the sale price is not more than 115% of the metal’s current spot price. In other words, if the value of your purchase lies primarily in the value of the precious metal it contains, and you purchase at least $1,000 at once, you may not need to pay sales tax on it.
These are some of the best-known NYC coin shops:
Like many coin shops located in the heart of New York City, Stack’s Bowers is a high-end coin broker. It is renowned for carrying the best-quality coins, and has even become a tourist destination because of this reputation.
Most of the pieces sold here are well outside the casual investor’s price range, it is a popular spot to browse and marvel at the top quality coins. Smaller-sized gold and silver rounds, ranging from five grams to one ounce, can be purchased with ease from their innovative GOLD to go™ ATM.
123 West 57th Street
New York, NY 10019
1-800-458-4646 and 1-949-253-0916
F. H. Coins and Collectibles
F.H. Coins is a family-owned and operated coin dealer. With more than five decades of numismatic experience, this shop represents all of the reasons why collectors love local coin shops.
F.H. Coins offers a personal approach to buying and selling silver and gold bullion and rare coins. They provide free appraisals and have two locations, one in Queens, New York and one in New York City.
1187 Lexington Ave.
New York, NY 10028
Bullion Trading LLC
Bullion Trading specializes in gold and silver bullion, including bars, rounds, and coins. One of New York City’s top coin dealers, this shop focuses less on antique and historical coins, and more on investment-grade precious metals. They are the biggest precious metal retailer in New York, and sell through their shop as well as by mail and online.
1156 Sixth Ave., 8th Floor
New York, NW 10036
American Coin & Stamp Co.
Many buyers find that they get better deals by traveling a bit outside the city itself, where lower rent and reduced competition means lower premiums over the spot price of silver. American Coin & Stamp Co. is one such shop offering affordably-priced silver rounds.
Located about 20 miles from New York City, this is New Jersey’s largest and oldest dealer of gold, silver, and rare coins. As with all New Jersey coin shops, they charge 7.0% sales tax, rather than the 8.875% tax that applies within New York city.
1273 Main Avenue
Clifton, New Jersey 07011