Gold $2,414.20 0.82%
Silver $31.65 1.62%
Platinum $1,053.04 3.84%
Palladium $1,022.11 -0.16%

Buy Gold Online in Nevada

Nevada is known as “the Silver State.” Nonetheless, the state is the largest source of gold in the U.S. and produces nearly two-thirds of its gold. From the first discovery of gold in Nevada in 1849 to 2017, the total production of gold totals 205,931,000 troy ounces, worth US$322.6 billion at 2020 values. However, before deciding to invest in gold and other precious metals in Nevada, ensure you’re familiar with federal and state laws such as capital gains and sales tax.

If you’re ready to buy gold online, visit a precious metal dealer’s website to browse their products. With the rising gold spot price today, many are looking to invest in silver and gold as a safeguard against economic fluctuations.

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Nevada IRS Regulations

All profits from selling collectible precious metals are subject to federal capital gains tax. Depending on your marginal tax rate, it can reach up to 28%. The capital gains tax you are charged will depend on your income and the value of the gold sale. 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

When investing in a gold IRA, remember that the IRA has strict regulations regarding the types of precious metals you can hold in your account. Here is a list of the requirements when choosing your precious metals:

The minimum purity standard for gold is 99.5%, 99.9% for silver, and 99.95% for platinum and palladium.
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 sealed in their original mint packaging. They must also be 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

You must report your gains to the IRS if you sell gold or other precious metals. To report the income, the seller must complete Schedule D of Form 1040 on their annual tax return.

However, Form 1099-B may also be required by the IRS, depending on the type of metal being sold. Form 1099-B is required at the time of sale 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

Nevada Taxes on Gold

According to the Nevada Tax Commission, bullion used as a medium for exchange is exempt from sales tax. However, sales tax applies to copper products, coins, and bullion not used as a medium of exchange; accessories; and processed items.
Tax rates in Nevada vary by county. The lowest rate expected to be paid is 6.85%, while the highest is 8.1%. For example, Winnemucca and Spring Creek residents are subject to a 6.85% sales tax. On the other hand, Las Vegas, Clark County, and Henderson residents are subject to 8.1% sales taxes.

Gold Prices

If you’re searching for gold dealers, make sure to compare the gold coin price, bullion exchange rates, and other factors before making a purchase. The cost of gold is affected by a number of characteristics, including the mint, purity, rarity, condition, size, dealer, and demand. The higher the gold content and the larger the size of the gold coin or bar, the higher the price. Nonetheless, the cost of gold has consistently risen over the years since it is a solid long-term investment.

Types of Gold Coins, Bars, and Bullion in Nevada

Gold coins typically weigh between one and two ounces. However, some dealers may also have half-ounce, quarter-ounce, and tenth-ounce coins. Gold coins also vary in quality, with earlier coins holding 90% to 92% gold and contemporary ones carrying 99.9% gold. Some dealers also sell alloyed gold coins, which are made up of 91.7% gold and the rest of silver or copper.

There are four types of gold coins:

Bullion
Bullion coins primarily served as a form of currency. However, they are now collectible items and investments because of their high purity levels. These coins are typically used to hedge against inflation and the stock market. The value of bullion coins is attributed to the rarity and aesthetic beauty of the item.
Proof
Proof coins are the highest quality gold investments and are often produced in limited quantities. These coins are produced by the U.S. Mint and come with a certificate of authenticity.
Numismatic
Numismatic coins are antique coins that are uncommon or collectible. These coins are valued for their historical and artistic worth rather than their fineness or gold content.
Semi-numismatic
Semi-numismatic coins include the characteristics of both bullion and numismatic coins. They are appraised for their rarity, artistry, as well as finesses, and purity.

Gold Bar Sizes

Gold bars are available in various sizes. They can range from a few grams to 10 ounces. The minimum international purity standard for gold bars is 99.5%e. Each gold bar is stamped with its weight in gold, fineness, and serial number. These bars 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.
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