How Much Gold Can I Legally Own?
Justin Fitzpatrick- Gold bars are a form of bullion.
- These bars are produced in weights ranging from 1 gram to 400 ounces and are traded in the wholesale market.
- Gold is traded based on the London fixing price.
Gold bullions and bars are commonly considered safe-haven assets that preserve wealth during turbulent times. Gold is considered a reliable store of value, as its price has historically remained relatively consistent over time. Historically, gold has functioned as a hedge against inflation and currency devaluation.
In 2015, the price of gold per ounce reached a high of $1,222.06. The price of gold, however, has fluctuated and today is trading at $1,096.61 per ounce. The precious metal can be purchased in the form of coins, jewelry and bullion bars.
How Much Gold Can I Own?
The U.S. Legal Limit on Gold.
The limit is 5,000 troy ounces (approximately 143,000 grams), per person per year.
For a married couple, the limit on the total amount of gold they can own is 10,000 ounces (approximately 445,000 grams), per year.
Note: Any gold that is owned must be reported on a Form 1099-CG, and any gold that is purchased must be reported on a Form 1099-BL, both of which are issued by the IRS.
Gold Limits for Gold Investors
Gold investors in the United States may own a maximum of 8,000 troy ounces of gold bullion and coins at any point in time.
Gold Limits for Gold Producers
Gold producers in the United States may own a maximum of 50,000 troy ounces of gold bullion and coins at any point in time.
Gold Limits for Retail Investors
1 ounce of 24-karat gold bullion coins and bars bought and owned for one's own pleasure and investment.
8 ounces total of gold bullion coins and bars bought and owned for one's own pleasure and investment.
400 ounces total of gold bullion coins and bars bought and owned for one's own pleasure and investment.
32 ounces total of gold bullion coins and bars bought and owned for one's own pleasure and investment.
1,600 ounces total of gold bullion coins and bars bought and owned for one's own pleasure and investment.
1,000 ounces total of gold bullion coins and bars bought and owned for one's own pleasure and investment.
Gold Limits for Accredited Investors
5,000 ounces total of gold bullion coins and bars bought and owned for one's own pleasure and investment.
10,000 ounces total of gold bullion coins and bars bought and owned for one's own pleasure and investment.
