You can buy gold and silver tax-free at Bullion Exchanges online if you order in Alaska, Delaware, New Hampshire, Montana, and Oregon. While many tradable financial securities, such as stocks, mutual funds and ETFs, are subject to short- or long-term capital gains tax rates, the sale of physical precious metals is taxed slightly differently. Physical gold or silver holds are subject to a capital gains tax equal to their marginal tax rate, up to a maximum of 28%. This means that people who fall into the 33, 35 and 39.6% tax brackets only have to pay 28% for their physical sales of precious metals.
To compare the different tax rates for gold and silver investments, you can use a Gold IRA comparison chart. Short-term gains on precious metals are taxed at ordinary income rates. Whether or not you must pay sales tax for a purchase of precious metals depends on your location. Some states require the collection of sales tax, while others do not. Some states may also charge sales taxes to a certain extent, and there may be exemptions beyond that point.
Here, one of the greatest gold fever in history took place, turning a desert backwater into a bright and bustling land of dreams, where many wealthy investors currently earn their living in the gold and silver markets.