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Posted By: JK

From the IRS's website:

"Gold, silver, stamps, coins, gems, etc. These are capital assets except when they are held for sale by a dealer. Any gain or loss you have from their sale or trade generally is a capital gain or loss."

"Net capital gain from selling collectibles (such as coins or art) is taxed at a maximum 28% rate."

"Capital gains and deductible capital losses are reported on Form 1040, Schedule D (PDF). If you have a net capital gain, that gain may be taxed at a lower tax rate. The term 'net capital gain' means the amount by which your net long–term capital gain for the year is more than your net short–term capital loss."

"If your capital losses exceed your capital gains, the amount of the excess loss that can be claimed is limited to $3,000, or $1,500 if you are married filing separately. If your net capital loss is more than this limit, you can carry the loss forward to later years."