Users questions 

Is Apmex a trusted company?

Joe Ford

Is Apmex a trusted company?

Yes you can trust apmex! One good sign is that they don’t take Bitcoin. I’ve never had a bad transaction with them. I’m a big fan of APMEX although I will not buy anymore of the 10 oz bars.

Are Apmex coins real?

99.99% chance your purchase from apmex is real. Virtually zero. Just avoid eBay for bullion or known-to-be counterfeited in the past collectables.

Does Apmex report to IRS?

Do you report my purchase of Precious Metals to the IRS? APMEX is not required to report our sales transactions to the IRS or any other federal, state or local agencies unless you fall under the Form 8300 requirement.

Are gold transactions reported to IRS?

Reporting Requirements Instead, sales of physical gold or silver need to be reported on Schedule D of Form 1040 on your tax return. 3 Depending on the type of metal you are selling, Form 1099-B must be submitted to the IRS at the time of the sale, as such sales are considered income.

Is buying gold traceable?

Will the Government Find Out I Am Buying Precious Metals? Bullion investors like their privacy. The off-the-grid nature of physical gold and silver is one of the metals’ most attractive features. They cannot be tracked electronically, and, in this age of government surveillance, that is increasingly important.

Are gold coins exempt from capital gains tax?

Capital Gains Tax exempt gold, silver & platinum coins Because these coins are not legal tender in the UK – they are not CGT exempt.

Are you taxed when you sell gold?

The IRS classifies precious metals, including gold, as collectibles, like art and antiques. You pay taxes on selling gold only if you make a profit. A long-term gain on collectibles is subject to a 28 percent tax rate, though, instead of the 15 percent rate that applies to most investments.

Do you have to pay taxes on gold coins?

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. Gains on most other assets held for more than a year are subject to the 15% or 20% long-term capital gains rates.

Which states do not tax gold purchases?

State Sales Tax Rules for Gold & Silver Bullion / Coins

  • ALABAMA. NO sales tax will be charged for Gold, Silver, Platinum, or Palladium bullion items as they are exempt from sales tax when shipping to an Alabama address.
  • ALASKA.
  • ARIZONA.
  • CALIFORNIA.
  • COLORADO.
  • CONNECTICUT.
  • DELAWARE.
  • FLORIDA.