United States
In the United States, physical gold is classified as a collectible, resulting in a federal tax rate on the gain of up to 28%, distinct from usual stock rates.
Import and customs value declaration
The United States levies no federal VAT. Gold imported from Switzerland qualifies for a 0% tariff exemption, confirmed by presidential decree of 5 September 2025, but its value must still be declared to U.S. Customs and Border Protection (CBP) once it reaches the reporting threshold below. Some states apply their own sales tax depending on the type of transaction and the buyer's residence.
Customs declaration
Physical gold is not a "monetary instrument" for FinCEN Form 105 purposes, but its value must still be declared to CBP once it reaches $10,000.
| Amount | Requirement | Form |
|---|---|---|
| Under $10,000 | Standard goods declaration only | — |
| $10,000 or more | Mandatory value declaration to CBP; FinCEN Form 105 may also be requested | CBP – Money & Monetary Instruments ↗ |
Resale
In the U.S., physical gold is treated as a "collectible" rather than a standard capital asset, which caps the federal long-term rate at 28% instead of the lower rates that apply to stocks.
| Scenario | Tax treatment |
|---|---|
| Held over 1 year (long-term) | Taxed as a collectible at your capital gains rate, capped at 28% federally |
| Held under 1 year (short-term) | Taxed as ordinary income at your marginal federal rate |
| State taxes | Many states add their own capital gains or income tax on top of the federal rate, check your state of residence |
What is investment gold?
The United States has no federal VAT, so there's no equivalent legal category of "investment gold." What matters instead is how the IRS classifies physical gold for tax purposes: bars, rounds, and coins are treated as a "collectible" under IRC §408(m), regardless of purity. The 28% rate itself comes from a separate provision, IRC §1(h)(5)(A), which deliberately disregards the IRA-eligibility exception set out in §408(m)(3), which limits IRA eligibility to bars/coins of at least 995‰ fineness (including the American Gold Eagle). So even a coin eligible under that exception is still taxed at 28% outside a retirement account: the exception only affects account structuring, never the resale tax treatment.