You can buy gold and silver tax-free at Bullion Exchanges online if you order in Alaska, Delaware, New Hampshire, Montana, and Oregon. Estonia is the only country I can find in the EU that doesn't apply sales taxes to purchases of silver ingots or silver coins. The following describes how these investments are taxed, as well as their tax reporting requirements, cost base calculations, and ways to offset any tax liability resulting from the sale of physical gold or silver. For individuals, sales of physical silver or gold are reported in Annex D as an attachment to Form 1040.
Physical gold or silver holds are subject to a capital gains tax equal to their marginal tax rate, up to a maximum of 28%. Many investors prefer to own physical gold and silver rather than exchange-traded funds (ETFs) that invest in these precious metals. The United Kingdom, home to several easy-to-use online gold merchants and numerous offshore gold vaults, has a 20% VAT on silver.