Owning Gold and Precious Metals Doesn’t Have to be Taxing

This article was originally published at Sprott.com

There is a relatively easy way to minimize the tax implications of owning gold and other precious metals.

For many U.S. investors the returns provided by owning physical gold — and the other precious metals including silver, platinum and palladium — come with a sobering surprise when the assets are sold and it’s time to pay taxes. The reason: The U.S. Internal Revenue Service (IRS) categorizes gold and other precious metals as “collectibles” which are taxed at a 28% long-term capital gains rate. Most other types of capital gains are subject to 15%-20%.

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