Gold $2,391.91 0.83%
Silver $28.68 0.17%
Platinum $929.10 2.48%
Palladium $1,013.77 1.99%

How to Buy Gold Online in the District of Columbia

Historically, investors have chosen to buy precious metals to protect their assets from external factors such as inflation and economic crashes. Of all the precious metal investment options, investors continue to invest in gold most often.

This is because the gold spot price has historically been resistant to dollar devaluation and market volatility. Today, you can also buy gold online if you search for reputable gold dealers and get it delivered to you in Washington, D.C.

Washington, D.C., or the District of Columbia, has a special status since it is a territory of the U.S. and not a state. Therefore, before purchasing gold in Washington, D.C., you should review federal and state laws.

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District of Columbia IRS Regulations

The federal government charges a capital gains tax on all precious metal transactions. This tax is applied to assets that have been held for more than a year and then sold for a profit. Capital gains tax applies when you sell gold, silver, platinum, and palladium.

The tax rate depends on the profit you make from selling the product. It is usually 0%, 15%, or 20% based on your income bracket and filing status. However, the rate cannot exceed 28% of the total transaction value. This table illustrates the capital gains tax rate in more detail:

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

Keep in mind that you will not be required to pay capital gains tax until the sale of your precious metals has been finalized.

IRS-Approved Precious Metals

Many people open a gold IRA to invest in gold. A gold IRA is a retirement account that works exactly like a regular IRA but allows investors to hold precious metal products and stocks in gold mining companies. Not all gold products can be included in the IRA. The IRS has a list of approved precious metals that have to meet the following requirements:

Purity standards should be 99.5% for gold products, 99.95% for silver products, and 99.95% for platinum and palladium products.
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 wrapped in original mint packaging, 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, 1,000-ounce silver, 50-ounce platinum, and 100-ounce palladium bars).
Non-proof bullion coins should be in brilliant, uncirculated, and undamaged condition.

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

IRS Forms

Sellers of precious metals should report the sale on their annual tax return using Schedule D of Form 1040. For certain transactions, you should use Form 1099-B instead. This applies to the sales of the following products only:

Silver U.S. dimes, quarters, or half dollars with 90% purity standards at a $1,000 face value
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.

District of Columbia Taxes on Gold

According to Washington D.C. legislation, the sale of gold products is subject to a 5.75% sales tax with no exemptions. All transactions involving gold and other precious metal coins, bars, or bullion are liable to the full sales tax.

Gold Prices

The gold spot price mostly depends on the weight and gold content of specific products. Gold bars that contain about 99.9% gold are always priced according to these attributes. When it comes to coins, some of them can bear a historical or aesthetic value, which would add to their price. Scarcity, rarity, and demand may also influence the gold coin price.

Types of Gold Coins, Bars, and Bullion in the District of Columbia

Gold coins for sale usually hold 99.9% gold, but some older coins may be 90% or 92% pure. You can also find alloyed coins, which hold 91.67% gold and are sometimes referred to as β€œ916 coins.”

Gold coins come in four different types:

These are collectible items that are prized for their historical value. They can be obtained from certified dealers and come with a certificate of authenticity.
Proof coins are rare, high-quality coins that are produced in very limited quantities. They are manufactured by any of the four U.S. mints and also come with a certificate of authenticity.
These are old, collectible, and rare coins that are valued higher than their face value because of their historical significance, artistry, and scarcity.
Semi-numismatic coins are bullion coins that also take some qualities from numismatic coins. They are valued based on their rarity, design, scarcity, and purity.

Gold Bar Sizes

Gold bars for sale come in different shapes and sizes. All bars come with their purity, weight, and manufacturer’s name imprinted on them, as well as a certificate of authenticity. There are four types of gold bars:
Cast bars
Minted bars
Hand-poured bars
Hand-poured, cast, and minted bars

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.
US Map

Best Gold Dealers Near Me


American Hartford Gold


Augusta Precious Metals


Birch Gold Group



Buy Gold in Your Washington, DC City

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