How Much Gold Can I Sell Without Reporting to IRS?

Selling precious metals for more than you paid creates a taxable capital gain and should be reported each year on your tax return.

Typically, gold investments are taxed at 28% by the IRS; you can reduce your taxes by reinvested your profits into similar investment vehicles.

Types of Transactions

Individuals selling rare coins and precious metals anonymously do so for many reasons, most notably to protect against identity theft, while dealers may fear money laundering risks. To circumvent such issues, buyers and sellers should conduct adequate research on the authenticity of their purchases prior to hiring an appraiser; additionally, clients should ask for client references regarding experience grading rare coins.

Dealers are required to report customer sales of precious metals that fall on the IRS’s list of “Reportable Items.” Reportable requirements are met when customers purchase 25 or more coins or bullion pieces at once – such as 1-oz gold Maple Leaves and Krugerrands from them respectively.

Physical gold investors can reduce their taxes by purchasing and selling investment-grade bullion through a self-directed Roth account. Assets held within such accounts accrue without taxes being withheld; capital gains only become due upon sale of assets held therein.


Many investors choose to purchase and sell gold anonymously for various reasons, ranging from tax avoidance to protecting privacy or minimizing identity theft risks.

No matter the reason for selling gold, all investors must be mindful that selling will likely yield a gain that needs to be reported to the IRS. If your precious metals were purchased for more than what was paid for, a capital gains tax equal to your individual tax rate must be payable and reported annually when filing income tax returns.

Dealers that accept payments exceeding $10,000 in cash must file Form 1099-B with the IRS to report those transactions and prevent money laundering activities and combat fraud. However, if gold is sold for less than what was paid initially then no report needs to be submitted.


When selling physical gold for more than what was paid for it, the IRS taxes the profit as a capital gain tax based on how long you held onto it and your ordinary income rate.

IRS agents usually only know of gold sales if payments have been deposited directly into bank accounts and reported them on tax returns, however this isn’t always the case as some sellers wish to keep their transactions anonymous due to privacy or identity theft concerns.

Based on state laws and the amount of gold purchased, your dealer may need to report your sale to the IRS on a 1099B form. In these instances, they cannot determine whether you should pay sales tax.

Reporting Thresholds

Precious metals may require reporting to the IRS under various circumstances; therefore, it’s important to abide by current IRS guidelines and consult a tax professional in order to stay compliant.

People often become confused over this issue as definitions for which coins and bullion bars need reporting can vary widely. Generally speaking, gold coins and bullion are classified by the IRS as collectibles and subject to higher rates than traditional investments such as stocks or bonds.

However, when selling gold to dealers for more than $10,000 cash in cash sales transactions must be reported to the IRS as it serves to prevent tax evasion and ensure people report their profits accurately. Furthermore, this helps thwart money laundering activities since officials would know who exactly was buying and selling items; all this information must be recorded on a 1099-B form that dealers must present their customers.

Raymond Banks Administrator
Raymond Banks is a published author in the commodity world. He has written extensively about gold and silver investments, and his work has been featured in some of the most respected financial journals in the industry. Raymond\\\'s expertise in the commodities market is highly sought-after, and he regularly delivers presentations on behalf of various investment firms. He is also a regular guest on financial news programmes, where he offers his expert insights into the latest commodity trends.

Categorised in: