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In most countries capital gains tax applies when precious metals are sold at a profit. Some countries also apply value added tax to precious metals. In the European Union, the trading of recognized gold coins and bullion products is VAT exempt, but no such allowance is given to silver. Elsewhere in Europe though, Norway has exempted both gold ...
"Additionally, you may face state and local taxes, which could bring your total tax rate to as high as 54% — 37.6% in federal income tax, plus 3.8% in net investment income tax, plus 12.3% in ...
If you want to minimize the tax you pay on the sale of gold coins, it’s best to hold on to them for at least a year and a day to take advantage of the 28% maximum tax rate.
Cash for Gold USA, an established gold buyer, is a top choice for selling your gold items. They offer competitive rates for a wide range of gold items, including jewelry, scrap gold and gold coins.
A gold IRA or precious metals IRA is an Individual Retirement Account in which physical gold or other approved precious metals are held in custody for the benefit of the IRA account owner. It functions the same as a regular IRA, only instead of holding paper assets, it holds physical bullion coins or bars.
It is usually created at the site of a mine and then transported to a refinery for further purification. The proportions of silver and gold can vary widely. Doré bars weigh as much as 25 kg. During the 19th century gold rushes, gold nuggets and dust were melted into crude gold bars mistakenly called "bullion" by miners. They were, more ...
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