Gold Coins/Bullion

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  • Harvey Lucas
    Senior Member
    • Apr 2006
    • 217
    #1

    Gold Coins/Bullion

    I understand that the profit on the sale of gold bullion is classified as a collectable and is taxed at 28% capital gains rate.

    Does this apply to profit on sale of "USA Minted American Eagle Gold Coins" ?
    Tags: None
    • AuditorTurnedGood
      Senior Member
      • May 2008
      • 326
      #2
      Coins are included

      in the list of collectibles which have 28% tax applied to the gain. TTB 6-8, and IRS Pub 17, pages 114 and 115. Hope this helps!

      ATG
      "Congress has spoken to this issue through its audible silence."
      Anyone ever notice they beat the daylights out of the definition of a child, but they don't spend much time at all defining "parent"?

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