Gold $2,413.97 0.83%
Silver $31.68 1.54%
Platinum $1,053.71 3.78%
Palladium $1,022.73 -0.22%

Buy Gold Online in Colorado

The Centennial State is famous for its rocky mountains and deep canyons. Colorado is the eighth largest state in the U.S. and is home to about 5.5 million people, many of whom buy precious metals for investment purposes. If you want to invest in gold and silver to grow your wealth, Colorado is the right place.

If you live in Colorado, there are multiple opportunities for you to buy gold and invest in silver. The availability of gold products has grown exponentially in recent years. Today, you can purchase gold from physical stores but also online and even open an IRA with precious metal products. But first, let’s see the governing laws and regulations for trading precious metals in Colorado.

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Colorado IRS Regulations

On the federal level, individuals who sell gold must pay capital gains tax. This tax is applied to assets that have appreciated during the time they’ve been held. It is applied to assets such as real estate, stocks, bonds, and precious metal collections.

The capital gains tax rate depends on the income you make from the transaction and grows as the transaction value increases. Gold sellers typically have to pay 0%, 15%, or 20% of the transaction value, but the tax rate cannot exceed 28% of the profit. The tax is included in the seller’s annual tax return only after the sale has been finalized. Below is a breakdown of rates based on the individual’s filing status:

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

IRS-Approved Precious Metals

Back in the day, the IRS only allowed U.S. American gold coins to be included in IRAs. Today, the list of IRS-approved precious metal products has expanded to include dozens of gold, silver, platinum, and palladium products.

Gold and other coins should match the following requirements set by the IRS:

The purity standards should be 99.5% for gold, 99.9% for silver, and 99.95% for palladium.
Bars, rounds, and coins must be manufactured by refiners, assayers, or producers accredited or certified by NYMEX, COMEX, NYSE/Liffe, LME, LBMA, LPPM, TOCOM, ISO 900, or a national government mint. Moreover, the manufacturer should meet minimum fineness requirements of at least 99.5%.
Proof coins should be enclosed in original mint packaging, be in excellent condition, and have a certificate of authenticity.
Small bullion coins should be produced according to exact weight specifications (except for 100-ounce gold, 400-ounce gold, 1000-ounce silver, 50-ounce platinum, and 100-ounce palladium bars).
Non-proof bullion coins should be in brilliant, uncirculated, and undamaged condition.

Currently, the IRS approves the following types of gold, silver, platinum, and palladium coins:

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

Tax liabilities on the sale of precious metals are not due at the exact time of the transaction. Instead, you must report the sale to the IRS using Schedule D of Form 1040 on your annual tax return. Depending on the type of sale, you should report to the IRS using Form 1099-B at the time of the transaction. These transactions include the sale of any of the following products:

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

Colorado Taxes on Gold

There is generally no sales tax on precious metals in Colorado. Precious metals, such as gold, silver, or platinum that are classified as legal tender are exempt from sales tax. Legal tender refers to precious metal coins that were once or are still used as a means of exchange. For instance, most coins produced by the U.S. Mint are legal tender.

Also, no sales tax is levied on precious metals with high purity standards that are sold for investment or collection purposes. However, some numismatic coins may be taxed if they are sold at a higher price than their face value.

Gold Prices

The cost of gold coins depends primarily on their weight, size, and gold content. Most frequently, the larger, the heavier, and the more gold content a coin has, the more it costs. However, sometimes a coin’s price may be higher than its face value due to its rarity, scarcity, design elements, and demand.

Conversely, the price of gold bars is solely determined by their weight and gold content. Gold bars for sale usually don’t carry a historical or aesthetic value like coins.

Types of Gold Coins, Bars, and Bullion in Colorado

Gold coins come in four forms:
Bullions are collectible items that have aesthetic and historical value. They can be obtained from certified dealers and come with a certificate of authenticity.
These are high-quality coins that are usually produced in limited quantities. They are manufactured by the U.S. Mint and come with a certificate of authenticity.
These are old, collectible, and rare coins that are valued higher than their face value because of their cultural significance.
Semi-numismatic coins take qualities from both bullion and numismatic coins. They are valued based on their rarity, artistry, scarcity, and purity.

Gold Bar Sizes

Gold bars typically weigh between a few grams to a few ounces. Recently produced coins usually have 99.9% purity.

Gold bars can be of four types:

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.
Hand-poured bars
Uniquely shaped with slight imperfections, showcasing the traditional goldsmithing process.
Hand-poured, cast, and minted ingots
A blend of old and new techniques, offering an artisanal, rustic appeal.
Their value is only determined by their weight and gold content. Gold bars can also be obtained from certified and reputable gold dealers and are more than 99.9% pure. They come with their weight, purity, and the initials of one of the four mints they were produced in – the Philadelphia Mint, the Denver Mint, the San Francisco Mint, and the West Point Mint in New York.

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



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