Gold $2,623.20 1.18%
Silver $29.51 1.68%
Platinum $929.27 0.72%
Palladium $917.22 1.07%
McGruff Gold Dealers Vermont

Buy Gold Online in Vermont

Vermont, known for its picturesque landscapes and rich history, has always had a keen interest in preserving its heritage. While it may not have the gold rush tales like California, Vermonters understand the value of stability and long-term investments.

That’s why many Vermont 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.

Before diving into the world of precious metals, you should be well-versed with both federal and state regulations. The IRS has specific guidelines regarding capital gains tax on gold, and Vermont has its distinct tax rules concerning gold purchases.

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Vermont IRS Regulations

When you sell gold, you will be required to pay capital gains tax according to IRS regulations. Precious metals are considered capital assets and fall under the category of collectibles. If you've held onto your gold for over a year before selling, you'll be liable to pay this tax.

The capital gains tax aligns with your marginal tax rate, capped at 28%. Depending on your income, the 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

IRS-Approved Precious Metals

For those considering a precious metals IRA, you must know which assets are IRS-approved. The IRS has stringent criteria for the types of metals permissible in an IRA:

Gold must have a purity of 99.5%.
Silver should be 99.9% pure.
Platinum and palladium must meet a 99.95% purity standard.
Bars, rounds, and coins should be produced by a recognized refiner, manufacturer, or assayer. They must be accredited by institutions like NYMEX, COMEX, NYSE/Liffe, and others and meet the 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 need to 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 only approved product is the Canadian Maple Leaf coin.

IRS Forms

Upon selling gold or other precious metals, it's mandatory to report the profits to the IRS. Sellers should complete Schedule D of Form 1040 on their annual tax return. Depending on the type and quantity of metal sold, Form 1099-B might also be necessary. This form is specifically for:

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

Vermont Taxes on Gold

In Vermont, when you buy gold and other precious metals, you will be charged a sales tax. This tax applies even if the purchase is made online. According to Vermont law, there is a 6% state sales tax on gold purchases. However, local municipalities can impose an additional 1% local option tax, making the potential total sales tax 7%.

Gold Prices

The cost of gold is influenced by various factors, including its mint, purity, rarity, and demand. Generally, the higher the gold content and the larger the size of the gold item, the higher its price. Over the years, gold has seen a consistent rise in its value, making it a sought-after long-term investment.

Types of Gold Coins, Bars, and Bullion in Vermont

Gold coins usually weigh between one to two ounces. Their quality varies, with older coins containing 90% to 92% gold and newer ones boasting a 99.9% gold content. Some reputable gold sellers also offer alloyed gold coins, which comprise 91.7% gold, with the rest being silver or copper.

Gold coins' prices are often determined by their size and gold content. However, certain coins might be priced above the gold spot price due to factors like rarity, demand, and unique design elements.


There are four primary types of gold coins:

Bullion
These coins were primarily used as currency but are now valued for their historical and aesthetic appeal.
Proof
These are high-quality coins produced in limited quantities by the U.S. Mint, accompanied by a certificate of authenticity.
Numismatic
These are older, rare coins valued more for their historical significance than their gold content.
Semi-numismatic
These coins blend elements of both bullion and numismatic coins, valued for their rarity, design, and purity.

Gold Bar Sizes

Gold bars are available in various sizes, from a few grams to 10 ounces. Their price is primarily based on their purity and weight. Each gold bar is stamped with its weight, purity, and serial number. Gold bars come in styles like:
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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