S721 exempts the sale of certain investment metal bullion and investment coins from New Jersey’s sales and use tax. The exemption applies to gold, silver, platinum, palladium, and similar metals in their raw, smelted, or refined form, as well as numismatic coins with a market value of at least $1,000.
The New Jersey State House of Representatives passed S721 on June 28, 2024 by a vote of 73 to 0. We have assigned pluses to the ayes because this bill is a necessary step toward restoring sound money and enforcing the U.S. Constitution’s monetary provisions. According to Article 1, Section 10, of the Constitution, “No State shall…make any Thing but gold and silver Coin a Tender in Payment of Debts.” The States can and must act now to protect Americans’ financial freedom and privacy by both ending the Federal Reserve’s unconstitutional monopoly on money and thwarting government plans to impose a Central Bank Digital Currency.
