Gold $2,327.26 0.45%
Silver $27.22 -0.05%
Platinum $921.90 -0.78%
Palladium $955.43 0.3%
McGruff Gold Dealers North Dakota

Buy Gold Online in North Dakota

North Dakota, known for its rich agricultural heritage and the scenic beauty of the Badlands, has always been a state that values stability and foresight. With the fluctuating economy, many North Dakotans are turning to precious metals as a secure investment.

North Dakota residents choose to invest in gold and buy precious metals for long-term growth. Many also invest in silver, platinum, and palladium to diversify their portfolios.

If you're looking to buy gold online in North Dakota, you should be well-informed about both federal and state regulations.

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North Dakota IRS Regulations

When you decide to sell gold or other precious metals, be aware that the IRS will require you to pay capital gains tax on any profit. Precious metals are considered capital assets and are categorized as collectibles. If you've held onto your precious metals for over a year before selling, you'll be subject to this tax.

The capital gains tax can be as high as 28%, but the exact rate depends on your income. Here's 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

If you're considering opening a precious metals IRA, you must know which metals are IRS-approved. The IRS has set specific guidelines for the types of metals you can include:

Gold products must have a purity of at least 99.5%.
Silver products should be 99.9% pure.
Platinum and palladium products must meet a 99.95% purity standard.
Bars, rounds, and coins should be produced by a recognized refiner, manufacturer, or assayer. They must also meet the minimum fineness requirements.
Proof coins should be in their original mint packaging, in excellent condition, and accompanied by a certificate of authenticity.
Small bullion bars should adhere to exact weight specifications.

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
For palladium, the Canadian Maple Leaf coin is the only IRS-approved product.

IRS Forms

When selling gold or other precious metals, you must report the profits to the IRS. Use Schedule D of Form 1040 on your annual tax return. Depending on the type and quantity of metal sold, you might also need to file Form 1099-B. This form is necessary 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

North Dakota Taxes on Gold

In North Dakota, when buying gold and other precious metals, you are subject to a sales tax. The statewide sales tax is 5%, but some counties and cities may impose higher rates.

According to North Dakota law, sales tax is not applied to transactions involving monetized bullion, non-monetized bullion, numismatic coins, accessory items, and processed items if the total for a single transaction is $1,500 or more. However, for transactions under $1,500, the standard sales tax rate of 5% is applied.

Gold Prices

The price of gold is influenced by various factors, including its purity, rarity, and demand. Over the years, gold has proven to be a stable and promising investment, with its value steadily increasing.

Types of Gold Coins, Bars, and Bullion in North Dakota

Gold coins can range in weight, with most being one to two ounces. Their quality can vary, with newer coins having a gold content of 99.9%, while older ones might contain 90% to 92% gold. The gold coin price is often determined by its size and gold content, but rarity, demand, and design elements can also play a role.


There are four primary types of gold coins:

Bullion
These coins were initially used as currency but are now seen as collectible items and investments.
Proof
These are high-quality gold coins produced in limited quantities by the U.S. Mint.
Numismatic
These are collectible or rare coins, often valued more for their historical significance than their gold content.
Semi-numismatic
These coins combine elements of both bullion and numismatic coins.

Gold Bar Sizes

Gold bars are available in various sizes and are priced based on their purity and weight. They must meet a minimum purity standard of 99.5%. Gold bars can come in different styles, including hand-poured, cast, and minted ingots.
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.

Precious Metals Buying Guide by State

Click on your state to learn more about purchasing gold or investing in a gold ira in your area.
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