Cryptocurrency Q&A
What gold is IRS approved?
What gold is IRS approved?
SamsungSpark
Thu Nov 14 2024
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5 answers
1191
I'm wondering about the type of gold that is approved by the IRS. I want to know which kind of gold meets their standards or criteria for approval.
5 answers
Caterina
Sat Nov 16 2024
The purity standards for precious metals are strictly defined. Gold must meet a purity level of 99.5%, ensuring it is nearly free of impurities.
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BlockchainVisionary
Sat Nov 16 2024
These institutions include NYMEX, COMEX, NYSE/Liffe, LME, LBMA, LPPM, TOCOM, and ISO 9000. Additionally, national government mints are also accepted as valid producers.
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ShintoMystical
Sat Nov 16 2024
Silver also has a high purity requirement, needing to be 99.9% pure. This standard guarantees the metal's quality and value.
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SarahWilliams
Sat Nov 16 2024
Platinum and palladium, two other highly valued metals, must both achieve a purity of 99.95%. This level of purity is crucial for their use in various industries.
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Tommaso
Sat Nov 16 2024
The production of bars, rounds, and coins must adhere to specific regulations. They must be manufactured by refiners, assayers, or manufacturers that have been accredited or certified by recognized institutions.
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