Buying gold in North Dakota
North Dakota does not charge sales tax on qualifying gold bullion and coins. Jewelry is taxed at the 5% state rate plus any local tax.
Gold has one national spot price in US dollars: the prices on this page are the same as on the gold price in the United States page. What differs in North Dakota is tax, explained below.
Sales tax on gold in North Dakota
U.S. and foreign legal-tender coins and currency are exempt. Other bullion is exempt only if refined to at least 99.9% fineness and valued by metal content, so lower-purity rounds and bars and jewelry are taxable.
Tax when you sell gold in North Dakota
Profits on gold are generally taxed by North Dakota like other investment gains, under its income tax rules. At the federal level, the IRS treats bullion and most gold coins as collectibles: long-term gains (assets held more than a year) are taxed at your ordinary rate, capped at 28%, and short-term gains as ordinary income.
Selling gold or gold jewelry to a dealer in North Dakota
- License: No statewide license for gold, silver or jewelry buyers was found. Cities license them: Bismarck's Pawnbroker Ordinance (City Code Chapter 5-06) covers pawnbrokers, junk dealers and secondhand dealers, and defines secondhand dealers to include antique dealers and jewelers who buy used goods such as jewelry, precious metals and coins worth more than face value. One application form covers all three types; the fee is in the city's fee schedule.
- Hold period: No state hold period found; chapter 51-35 sets none. Bismarck's hold period (if any) is in Chapter 5-06, which was not checked.
- What the dealer records: Chapter 51-35 (if it applies): records of scrap metal purchases over $50, kept 7 years, including a photocopy of the seller's government photo ID. Bismarck record rules not confirmed.
- What sellers need: Chapter 51-35 (if it applies): photocopy of a valid government-issued ID or driver's license with full name, photo, date of birth and signature.
- Payment: Chapter 51-35 (if it applies): no cash for scrap metal purchases over $1,000 (over $100 for detached catalytic converters); pay by check or electronic transfer.
- Jewelers: Bismarck expressly counts jewelers who buy used jewelry, precious metals or coins as secondhand dealers.
- The law: No statewide precious metal or secondhand jewelry dealer statute was found. The state scrap metal law, N.D.C.C. chapter 51-35 (Purchases by Scrap Metal Dealers), covers ferrous and nonferrous metal bought mainly for reuse or recycling; its list of nonferrous metals names platinum but not gold or silver, and it does not mention jewelry. Example local law: Bismarck City Code Chapter 5-06.
Dealers report a customer's sale to the IRS on Form 1099-B only for certain forms and quantities, such as 1-kilo gold bars, 1,000 ounces of silver bars or 25 or more Krugerrands or Maple Leafs; American Eagles and smaller lots are generally not reported. Any business that receives more than $10,000 in cash in one transaction or related transactions files IRS Form 8300. Bring a photo ID when you sell.
What you pay over spot
Dealers sell Gold Eagles, Buffaloes, bars and rounds at a premium over the spot price shown here, which covers minting, shipping and the dealer's margin; small coins carry the biggest premiums. Jewelry adds design and labour. When you sell, dealers usually pay a little under spot for common bullion and the melt value, less a margin, for scrap.
Tax and duty information last reviewed October 2026. Rules change — confirm with your dealer or tax authority before a large purchase.