Sales tax in New Mexico

In New Mexico, there is no traditional sales tax; instead, the state uses a Gross Receipts Tax (GRT) that is imposed on the seller but is commonly passed on to the buyer. The rate varies by location, generally ranging from about 5% to over 9% depending on the city and county.

For coins and currency, the treatment depends on what is being sold:

• Investment coins and investment bullion: New Mexico law provides a deduction from gross receipts for qualifying sales of investment coins and bullion. This includes certain precious-metal coins and bullion where value is based on metal content rather than collectible form.
• Gold and silver coins or bullion: A 2026 legislative change (effective July 1, 2026) provides a deduction for sales of gold and silver coins or bullion meeting the statutory definition.
• Collectible coins, paper currency, tokens, medals, and numismatic items: These generally do not fall under the investment bullion/coin deduction and may be subject to New Mexico GRT depending on the transaction and seller status.