Are Precious Metal Sales Subject to Capital Gains Tax?

Precious metals such as gold, silver, platinum, palladium, and titanium are considered by the Internal Revenue Service (IRS) to be capital assets specifically classified as collectibles and may be subject to capital gains tax. 

The capital gains tax is only owed after the sale of such holdings and if the holdings were held for more than one year.

Cost Basis of Precious Metals

If a capital gains tax applies, then the amount of tax owed on the sale of precious metals depends on the cost basis of the metals themselves. The cost basis is the original per-ounce purchase price of your precious metals.  

As always, consult your tax professional regarding these matters prior to taking any action. For more information: