Gold $2,415.47 0.77%
Silver $31.70 1.45%
Platinum $1,054.15 3.74%
Palladium $1,023.88 -0.34%

Buy Gold Online in Arkansas

Arkansas, known as "The Natural State," boasts a rich history of gemstones and minerals, including diamonds from the Crater of Diamonds State Park. While diamonds have their allure, many Arkansans today are turning their attention to gold as a promising investment opportunity.

Before diving into the world of gold investment, you should be well-versed with both federal and state regulations. The IRS has specific guidelines concerning capital gains tax on gold, and Arkansas has its unique tax implications for gold purchases.

If you're considering buying gold online or investing in silver, start by exploring a reputable precious metal dealer's website. Here, you can peruse a variety of gold, silver, and other precious metal products. In certain cases, you might need to engage with a representative to set up an account and decide on the precious metals you wish to buy.

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Arkansas IRS Regulations

When you decide to sell your gold or other precious metals, be prepared to face the federal capital gains tax imposed by the IRS. This is because the IRS views precious metal investments as capital assets, categorizing them as collectibles. If you've held onto your precious metals for over a year before selling, you'll be liable for this tax.

The capital gains tax aligns with your marginal tax rate, capping at 28%. Depending on your income bracket, the capital gains tax rates can be 0%, 15%, or 20%. Here's a detailed 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

Remember, you're only obligated to pay the capital gains tax once your precious metals sale is finalized.

IRS-Approved Precious Metals

If you're thinking of opening a precious metals IRA, ensure your assets adhere to IRS guidelines. The IRS has stringent rules about the kinds of precious metals permissible in an IRA:

Gold must meet a purity standard of 99.5%.
Silver should have a purity of 99.9%, while platinum and palladium must be 99.95% pure.
Bars, rounds, and coins should originate from an accredited or certified refiner, manufacturer, or assayer. This producer should have accreditation or certification from recognized entities like NYMEX, COMEX, and others. They should also satisfy minimum fineness requirements.
Proof coins should be in their original mint packaging, in pristine condition, and accompanied by a certificate of authenticity.
Small bullion bars should adhere to precise weight specifications.
Non-proof bullion coins should be brilliant, uncirculated, and devoid of any 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

Upon selling gold or other precious metals, you must report the profits to the IRS. Sellers should complete Schedule D of Form 1040 of their yearly tax return.

Depending on the metal type sold, the IRS might also require Form 1099-B. This form is mandatory when selling:

90% silver U.S. dimes, quarters, or half dollars with a 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

Arkansas Taxes on Gold

In Arkansas, precious metal investors are not subject to sales tax when they invest in gold and silver. In 2021, the state exempted coins, currency, and precious metal bullion from sales tax charges.

The exemption applies to gold and silver, including refined bullion that is stamped with its weight and purity and valued based on its metal content.

Gold Prices

Several factors influence the price of gold, including the mint, fineness, rarity, condition, size, dealer, and demand. Typically, the higher the gold content and the larger the size of the gold coin or bar, the more it will cost. 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 Arkansas

Gold coins typically weigh one to two ounces; however, half-ounce and quarter-ounce coins may also be available at some dealers. Gold coins also come in varying qualities, with older minted coins containing 90% to 92% gold and newer coins containing 99.9% gold. Some reputable gold dealers also sell alloyed gold coins, which contain 91.7% gold, with the remainder being made up of silver or copper.

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.

Gold Bar Sizes

Gold bars for sale 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 purity standard of 99.5%. Each gold bar is stamped with its weight in gold, fineness, and serial number. These 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.
US Map

Best Gold Dealers Near Me


American Hartford Gold


Augusta Precious Metals


Birch Gold Group



Buy Gold in Your Arkansas City

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