All Bullion coins, bars, and rounds are subject to the same tax treatment. The IRS  categorizes palladium, gold, silver, and platinum bullion as “collectibles”, despite the fact most of these items have no collectible premiums. It’s confusing and unfair, but it’s the only way it will be until the U.S. Treasury modifies its regulations or Rep. Alex Mooney (R.W.Va.) passes his Monetary Metals Tax Neutrality Act. 1089), which would eliminate all income taxation on precious metals.

At the moment, bullion that has been held for more than one year is subject to federal tax at 28%. Bullion held for less than one year is subject to personal income tax rates just like short-term capital gain taxes on stocks and bonds.

Investors are not taxed just because their metal holdings appreciate in value. Capital gains tax is applied when the metal holdings are sold and the investor realizes either a gain (or a loss) in fiat dollars.Dealers are being forced to charge sales taxes for precious metals purchases, just like any other business the tax rate varies  from state to state.

Except in very rare cases, a dealer is not required to inform the IRS about a customer’s sale or purchase. There are two exceptions to this rule: purchases exceeding $10,000 in cash or sales of large amounts of gold, silver and platinum bars. Dealers are not required to file any type of 1099 or report for the vast majority of transactions. ABS bullion is committed to protecting the privacy of our customers.