New Mexico

Silver price in New Mexico

Spot is $69.09/oz right now. Spot is the same everywhere — what changes in New Mexico is the premium dealers charge over it and whether the state taxes the purchase.

Sales tax on bullion

Silver bullion is taxed in New Mexico

State rate: None recorded
Exemption threshold: None
Source read on: 2026-08-16

What the tax would cost here

State rate only · local rates stack on top

On a $500 order: Rate not recorded
On a $1,000 order: Rate not recorded
On a $2,500 order: Rate not recorded
On a $10,000 order: Rate not recorded

A dealer only collects sales tax where they have nexus, so what you are actually charged can differ. Compare this against the premium spread below before optimising the smaller number.

How common is this answer

7 of 51 states treat bullion this way

Exempt34
No sales tax5
Above a threshold5
Taxed7

The rule, as New Mexico writes it

New Mexico taxes bullion. It levies gross receipts tax rather than a conventional sales tax, and there is no deduction for precious metals. Bills to create one keep being introduced and keep failing — SB0382 in 2025, and SB0174 in 2026, which died on 29 January 2026 with action postponed indefinitely. Rates vary substantially by location because local increments stack on the state rate.

Source: New Mexico Legislature — SB0174 (2026), gross receipts deduction for gold and silver: died in committee · read on 2026-08-16

What this page cannot tell you

Whether tax is actually charged depends on the dealer, not only on where you live: a retailer collects sales tax in states where they have nexus.

Local city and county rates stack on top of any state rate shown here, and several exemptions cover investment bullion but not jewellery or collectibles sold well above melt.

What silver costs from the dealers we check

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Check another rule

24 more states with a sourced rule

Gold price and bullion tax in New Mexico →Every state’s rule on one page →

Tax information is a sourced, dated reading of a public document, not tax advice. Rules change; confirm with New Mexico before a large purchase. Flag image: public domain via Wikimedia Commons.