DENVER, CO – July 27, 2026 - Gold Rush Denver, a Colorado precious metals and diamond buyer, is publishing guidance for local sellers on the income tax rules that apply to selling gold, silver and coins in 2026. Spot prices have climbed enough this year that many everyday sellers now walk away with a taxable profit for the first time.
Do You Owe Taxes on the Gold You Sell?
Yes, in most cases. Any time an item sells for more than its original cost, the difference counts as a taxable gain in the eyes of the IRS. That rule applies to gold jewelry, silver coins, bullion and inherited pieces alike. The source doesn't matter. Jewelry box, coin collection or family estate, the tax treatment stays the same. If the payout beats the original cost, the gain belongs on a tax return.
How the IRS Tracks These Sales Now
The rules changed in 2025. The IRS narrowed Form 1099-B, the form used to report certain broker and exchange transactions, and removed coin sales from that requirement. That sounds like good news for sellers, but it isn't a loophole. No 1099 doesn't mean no obligation. Sellers stay responsible for reporting any gain either way.
What Sets Your Tax Rate on a Sale
Holding period drives the rate more than anything else.
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Held less than one year: taxed at the seller's top marginal income tax rate
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Held more than one year: taxed at the lesser of the marginal rate or 28 percent
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Sold inside a self-directed precious metals IRA: no reporting or tax due at the time of sale
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Swapped for a different metal, even with no cash exchanged: still counts as a taxable event under rules in place since 2017
A profit is a profit, even if it never touches a bank account.
"Selling gold shouldn't come with tax surprises," said Sarah Mitchell, general manager of Gold Rush Denver. "We walk every customer through the numbers up front, so they know exactly what they're getting and what it might mean once tax season rolls around."
Bring In Your Items for a Straight Answer
Gold Rush Denver offers a free, in-person evaluation before any offer goes on the table. Specialists weigh each piece and explain what they buy, from gold jewelry and dental gold to silver flatware, bullion and pre-1965 coins, so sellers know exactly what they're holding before deciding anything. The evaluation process happens in full view of the customer, with no appointment required and no pressure to sell.
About Gold Rush Denver
Gold Rush Denver has served Colorado sellers for more than 13 years, offering an alternative to pawn shop loans and jeweler markups. GIA-certified specialists evaluate gold, silver, platinum and diamonds on the spot and pay cash the same day. Anyone with questions about how a sale might affect their taxes, or what their gold and silver are worth right now, can visit any Gold Rush Denver location for a free, no-pressure conversation.
Media Contact
Public Relations
Gold Rush Denver
developers@nicastromedia.com
+1 (303) 282-4651
