Gold $2,413.49 0.3%
Silver $31.72 -0.56%
Platinum $1,053.09 -0.78%
Palladium $1,024.48 -0.3%

Buy Gold Online in Louisiana

Many Louisiana residents buy precious metals as a way to grow long-term wealth. Particularly, residents choose to invest in gold given its historical increase in value, especially during economic uncertainty. As a result, many investors buy gold coins and bars for long-term growth.

In addition to gold, residents also chose to invest in silver, platinum, and palladium as a way to diversify their portfolios. Nonetheless, before you start to invest in silver and gold, make sure to familiarize yourself with federal and state laws.

If you’re ready to start buying gold online, visit a gold dealer's website and browse their products. You may also find options to buy silver and other precious metals.

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Louisiana IRS Regulations

The IRS considers precious metal investments as capital assets classified as collectibles. As a result, all profits from selling physical gold or other precious metals, regardless of their form, are subject to federal capital gains tax by the IRS. Investors will owe capital gains tax if they sell their precious metals after holding them for at least one year.

The capital gains tax is equivalent to your marginal tax rate. The capital gains tax rates are 0%, 15%, or 20%, but they can reach a maximum of 28%, depending on your income. 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

IRS-Approved Precious Metals

The IRS has strict regulations regarding the types of precious metals investors can hold in their accounts. It has approved various products, making it easier for those looking to buy gold bars or gold coins for sale. Here is a list of the requirements when choosing your precious metals:

Every precious metal has a minimum purity standard. For instance, gold must be 99.5% pure, silver should be 99.9% pure, and platinum and palladium 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, they must satisfy minimum fineness requirements.
Proof coins must be secured in their original mint packaging, in excellent condition, accompanied by a certificate of authenticity.
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

Investors are required to report all profits from selling gold or other precious metals to the IRS. To report the income, you must complete Schedule D of Form 1040 on your annual tax return.

However, you may also be required to complete Form 1099-B if you sell:

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

Louisiana Taxes on Gold

When buying gold, Louisiana residents must be aware of the taxes. The sales tax rate in Louisiana varies, affecting the price of gold.
According to Louisiana Law, no sales tax will be applied to the purchase of gold, silver, or platinum bullion. However, sales tax will be applied when purchasing numismatic coins priced under $1,000, bullion products made of palladium or copper, accessory items, and processed items. The sales tax rate in Louisiana ranges from 4.45% to 11.45%.
Numismatic coins
include coins whose value exceeds the price of the precious metal content. The coin’s rarity, condition, and age often increase the price.
Accessory items
refer to holders, tubes, or coin flips.
Processed items
have been processed by third parties into items valued more than their precious metal content, such as jewelry or statues.

Gold Prices

Multiple factors influence the cost of gold. Those include the mint, purity, rarity, condition, size, dealer, and demand. Generally, the higher the gold content and the larger the size of the gold coin or bar, the more it costs. Moreover, the cost of gold has been consistently rising over the years, making it a solid long-term investment.

Types of Gold Coins, Bars, and Bullion in Louisiana

A typical gold coin usually weighs between one to two ounces. However, you may find smaller units of gold coins such as half-ounce, quarter-ounce, and tenth-ounce coins. Moreover, gold coins vary in quality. For example, older coins hold a purity of 90% to 92%, whereas contemporary ones are made of 99.9% gold. You may also find alloyed gold coins made up of 91.7% gold, with the rest made 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.

There are four types of gold coins:

Bullion coins historically served as a form of currency. However, they are now collectible and investment items because of their high purity levels. Bullion coins are typically used for protection against economic downturns. Their value is attributed to the rarity and aesthetic beauty of the item.
Proof coins are the highest quality gold investments. They are produced by the U.S. Mint in limited quantities and come with a certificate of authenticity.
Numismatic coins are rare or collectible coins. They are prized for their historical and aesthetic importance rather than their fineness or gold content.
Semi-numismatic coins hold the characteristics of both bullion and numismatic coins. They are valued based on their rarity, artistry, as well as finesses, and purity.

Gold Bar Sizes

Gold bars come in different sizes, ranging from a few grams to 10 ounces. Larger bars are produced by pouring molten gold into molds, whereas smaller bars are made by minting rolled gold sheets. However, regardless of the bar size, investment-grade bars must abide by the international purity standard of 99.5% and be stamped with their weight in gold, fineness, and serial number.

The gold bar price is most often based on purity, gold content, and size. Gold bars for sale are available 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 Louisiana City

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