Dealers say NY Dems’ push to tax precious metals is fool’s gold

New York does not charge tax on the sale of bars and coins made out of gold, silver, platinum and other precious metals that are purchased for investment purposes, which are known as bullion. It’s far from alone: At least 40 states have a similar tax exemption, according to the National Coin and Bullion Association. Now, Senate Democrats want to restore the bullion sales tax as part of ongoing negotiations over the roughly $260 billion state budget.