Precious Metal Sales Tax in United States

Consult our summary table on the taxation of precious metals in different countries (France, Belgium, Switzerland, Canada...).

There is no one all-encompassing sales tax in the United States. The 50 individual states have their own tax laws and their own sales tax rates. These can differ immensely from state to state. In some states there is no such thing as a sales tax on precious metals, whereas in others you will pay close to an extra 10% on every purchase that you make.

It is therefore very important to understand the different laws and rates in your state. The same applies to individual counties, because even in a single state, there is very rarely just one rate that applies everywhere. Tax laws are the same state-wide, but the rates are not, and just by traveling out of the county you might be able to reduce the amount that you pay on precious metal purchases.

Taxation of Gold and Silver in Different Countries

RESIDENCE COUNTRY	GOLD		SILVER		NOTE
RESIDENCE COUNTRY	PURCHASE	SALE	PURCHASE *GoldBroker.com stores silver in a free zone > VAT exemption	SALE	NOTE
FRANCE	0	11.5% Tax on Precious Metals	VAT 20%	11.5% Tax on Precious Metals	Capital gains tax: 5% deduction per year starting from the 3rd year of ownership. However, to benefit from this, you must be able to provide proof of the price and date of acquisition. After 22 years of ownership, there is a total exemption from tax.
FRANCE	0	36.2% Capital Gains Tax	VAT 20%	36.2% Capital Gains Tax
BELGIUM	0	0	VAT 21%	0
SWITZERLAND	0	0	VAT 7.7%	0	Precious metals are included in the declaration of ISF (Wealth tax)
ITALY	0	Companies > 6% Capital Gains Tax Private Investors > 12.5% Capital Gains Tax	VAT 21%	Companies > 6% Capital Gains Tax Private Investors > 12.5% Capital Gains Tax
UNITED KINGDOM	0	18% Capital Gains Tax	VAT 20%	18% Capital Gains Tax	CGT applies only to bars and coins with no legal tender
IRELAND	0	25% Capital Gains Tax	VAT 21%	25% Capital Gains Tax
SPAIN	0	20% Capital Gains Tax	VAT 16%		The rate may slightly vary from one region to another
GERMANY	0	0	VAT 19%	0
CANADA	0	Capital Gains Tax: 50% exemption in the first year of ownership. The remaining 50% must be included in the income tax return	0	Capital Gains Tax: 50% exemption in the first year of ownership. The remaining 50% must be included in the income tax return	More info on the Canada Revenue Agency website
UNITED STATES	0	28% Capital Gains Tax	0	28% Capital Gains Tax	Gold and silver are considered "collectibles" > More info

GoldBroker.com cannot provide investment, tax, legal, or other advice. Therefore, if you lack sufficient knowledge about taxation based on your personal circumstances, we recommend seeking the independent advice from a qualified professional.

Last updated on 02/02/2022