This bill proposes an exemption from the sales and use tax for sales of investment metal bullion and investment coins in New Jersey. Specifically, it defines investment metal bullion as any elementary precious metal, such as gold, silver, platinum, and palladium, that has undergone smelting or refining and whose value is determined by its content rather than its form. The exemption does not extend to precious metals that have been assembled or processed for specific industrial or artistic uses. Similarly, investment coins are defined as numismatic coins made from various metals, including non-precious ones, with a fair market value of at least $1,000, excluding jewelry, works of art, and commemorative medallions.

The bill aims to align the treatment of investment metal bullion and investment coins with other investment instruments, like stocks, which are not subject to sales tax. The act is set to take effect immediately and will apply to retail sales receipts received on or after the first day of the fourth month following its enactment.