Gold $2,622.97 1.17%
Silver $29.51 1.67%
Platinum $929.27 0.72%
Palladium $919.02 1.27%
McGruff Gold Dealers Alaska

Buy Gold Online in Alaska

Gold was first discovered in Alaska in the summer of 1896. The discovery sparked a mass migration to the Yukon Territory in hopes of striking it rich. To this day, Alaskans invest in gold as it is a relatively stable and long-term growth asset. Many also choose to invest in silver, palladium, and platinum as part of a diversified investment strategy.


First, make sure you’re familiar with federal and state laws. Then, once you’re ready to buy precious metals online, visit a gold dealer’s website and browse the available investment options. These can include gold coins, bars, and IRAs.

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Alaska IRS Regulations

When you sell gold and other precious metals, you will be subject to capital gains tax by the IRS. This is because the IRS views investments in precious metals as capital assets that fall under the collectibles category. Therefore, capital gains tax is due if the precious metals are sold after being kept for at least a year.

The capital gains tax is equal to the profit you make from the transaction. The capital gains tax rates are 0%, 15%, or 20%, depending on your income, and can reach a maximum of 28%. The following is a breakdown of the capital gains tax rates for 2023:

Filing Status0%15%20%
SingleUp to $44,625$44,626 to $492,300Over $492,301
Head of householdUp to $59,750$59,751 to $523,050Over $523,051
Married filing jointlyUp to $89,250$89,251 to $553,850Over $553,851
Married filing separatelyUp to $44,625$44.626 to $276,900Over $276,901

Keep in mind that you will not be required to pay capital gains tax until the sale of your precious metals has been finalized.

IRS-Approved Precious Metals

When looking to open a gold IRA, the IRS has strict regulations regarding the types of precious metals that are eligible. Therefore, your assets need to meet the following criteria:

Gold products must be 99.5% pure, silver must be 99.9% pure, and platinum and palladium products must be 99.95% pure.
Bars, rounds, and coins must be produced by an accredited or certified refiner, manufacturer, or assayer. The producer must be accredited or certified by NYMEX, COMEX, NYSE/Liffe, LME, LBMA, LPPM, TOCOM, ISO 9000, or a national government mint. Additionally, the producer must meet minimum fineness requirements.
Proof coins must be encapsulated in excellent condition and include a certificate of authenticity in complete, original mint packaging.
Small bullion bars must be manufactured to exact weight specifications.
Non-proof bullion coins must be in brilliant, uncirculated condition and free from all damage.

IRS-Approved Gold Products Include:

American Eagle bullion or proof coins
Australian Kangaroo or Nugget bullion coins
Australian Lunar Series coins
Austrian Philharmonic bullion coins
British Britannia (2013 or newer)
Canadian Maple Leaf coins
Chinese Panda coins
Credit Suisse – PAMP Suisse bars
U.S. Buffalo bullion coins

IRS-Approved Silver Products Include:

American Eagle bullion or proof coins
America the Beautiful coins
Australian Kookaburra coins
Austrian Vienna Philharmonic coins
British Britannia (2013 or newer)
Canadian Maple Leaf coins
Chinese Panda coins
Mexican Libertad bullion coins

IRS-Approved Platinum Products Include:

American Eagle bullion or proof coins
Australian Koala bullion coins
Canadian Maple Leaf bullion coins
Isle of Man Noble bullion coins
The only IRS-approved palladium product is the Canadian Maple Leaf coin.

IRS Forms

When selling gold or other precious metals in Alaska, investors are required to report the profits to the IRS. To report the income, sellers must complete Schedule D of Form 1040 on their annual tax return.

In addition, depending on the type of asset that is sold, investors might also be required to complete Form 1099-B by the IRS. For example, form 1099-B is needed when selling:

90% silver U.S. dimes, quarters, or half dollars at face value of $1,000
Twenty-five or more one-ounce gold Maple Leaf, Krugerrand, or Mexican Onza coins
One-kilogram or 1,000-troy-ounce gold and silver bars

Alaska Taxes on Gold

According to Alaska’s Department of Revenue, “the State of Alaska currently does not have a sales and use tax; however, some local jurisdictions impose local sales taxes.” This means that all precious metal purchases are exempt from taxation on the state level.

However, each county or city can set its own sales tax amount. For instance, the city of Homer has the highest sales tax in Alaska, reaching 7.85%. Additionally, the North Slope, Skagway, and Matanuska-Susitna Boroughs share a sales tax rate of 3%.

Gold Prices

Several factors influence gold costs, like the mint, fineness, rarity, condition, size, dealer, and demand. Usually, gold products cost more when they have high gold content and are larger in size. Nevertheless, the cost of gold has steadily risen over the decades as it is seen as a relatively stable long-term investment.

Types of Gold Coins, Bars, and Bullion in Alaska

Gold coins typically weigh one to two ounces. However, you may also find lower denominations like half-ounce, quarter-ounce, and one-tenth-ounce coins at some dealers. Gold coins also come in varying qualities. Older minted coins contain 90% to 92% gold, whereas newer coins contain 99.9% gold. Some gold dealers also sell alloyed gold coins, which comprise 91.7% gold. The gold coin price is often based on the size and gold content. However, some coins can cost more than the gold spot price based on rarity, demand, and design elements.

There are four types of gold coins:

Bullion
Bullion coins historically served as a form of currency. However, they are now used for investment and collectible purposes. These coins are typically used to hedge against inflation and the stock market. Their value is attributed to their rarity and visual appeal.
Proof
Proof coins are the highest quality gold investments and are often produced in limited quantities. These coins are produced by U.S. Mints and include a certificate of authenticity.
Numismatic
Numismatic coins are collectible or rare coins. They are valued less for their fineness or gold content and more for their historical and artistic significance.
Semi-numismatic
Semi-numismatic coins include the characteristics of both bullion and numismatic coins. This means that they are valued based on their rarity, artistry, as well as finesses and purity.

Gold Bar Sizes

Gold bars come in various sizes, ranging from a few grams to 10 ounces. The gold bar price is most often based on purity, gold content, and size. Gold bars have a minimum international purity standard of 99.5%. Each bar is stamped with its weight in gold, fineness, and serial number. Gold bars come in several styles, including:
Hand-poured, cast, and minted ingots
A blend of old and new techniques, offering an artisanal, rustic appeal.
Hand-poured bars
Uniquely shaped with slight imperfections, showcasing the traditional goldsmithing process.
Cast bars
Showcases modern precision with clean lines and a uniform matte finish, optimized for easy storage.
Minted bars
Highly refined, featuring high-gloss finish, sharp edges and tamper-evident packaging for added security.

Gold Buying Guide by State

Click on your state to learn more about investing in gold, silver, and other precious metals in your area.
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